The branch of a foreign bank operating in the UAE has been fined AED 600,000 for failing to comply with market conduct and consumer protection regulations.
The penalty follows an inspection by the Central Bank, which found violations of UAE banking standards.
The action was taken under Article 137 of the Federal Law No. 14 of 2018, governing financial institutions.
Authorities say the move is part of ongoing efforts to uphold transparency and integrity across the country’s financial sector.
Over 800 arrested in UAE-led operation to fight environmental crime in Amazon basin
A UAE-led operation to tackle environmental crime in the Amazon basin has seen the arrests of 839 individuals and the seizure of harvested timber, illegal mining equipment, fuel and minerals that is valued over $280million.
Dubai expands road capacity on key traffic corridor
Dubai's Roads and Transport Authority (RTA) has completed traffic improvements on Latifa bint Hamdan Street to ease congestion and increase road capacity.
Dubai Police correctional establishments recognised for human rights excellence
Dubai's Correctional and Penal Institutions have received accreditation from the American Correctional Association (ACA) and the organisation’s top Global Eagle Award, becoming the first in the region and only the third jurisdiction worldwide to receive the honour.
Two face legal action over offensive social media broadcast
The UAE's National Media Authority has taken legal action against two individuals for violating media regulations and content standards.
UAE, Bahrain foreign ministers discuss regional developments
Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, has discussed the latest regional developments with Bahrain's Minister of Foreign Affairs, Dr. Abdullatif bin Rashid Al Zayani.
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