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.
UAE forces deal with incoming missile, drone threats
UAE air forces have announced early on Sunday that they are responding to incoming missile and drone threats from Iran.
H.H. Sheikh Mohammed congratulates Dubai World Cup winner
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has congratulated the United States on the victory of the horse 'Magnitude' at the Dubai World Cup on Saturday.
Emirates Global Aluminium reports significant damage after attack
Emirates Global Aluminium (EGA) on Saturday announced the company’s Al Taweelah site sustained significant damage during the Iranian missile and drone attacks at Khalifa Economic Zone Abu Dhabi.
UAE air defences engage 20 ballistic missiles, 37 UAVs
The UAE air defences systems on Saturday intercepted 20 ballistic missiles and 37 UAVs launched from Iran.
Gargash urges political approach to regional security
Anwar Gargash, diplomatic adviser to the UAE president, underlined the need for a long-term diplomatic approach to stability in the region on Saturday, and said some media coverage has misrepresented the country’s position, as tensions with Iran continue to escalate.
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