Abu Dhabi:The Central Bank of the UAE has imposed strict enforcement measures on the branches of Bank Melli Iran operating within the UAE.
According to Emirates News Agency, the sanctions were implemented following violations of regulations, laws, and supervisory decisions, particularly those related to combating money laundering and the financing of terrorism and proliferation. These measures are in line with Article (168-1-C) of Federal Decree-Law No. (6) of 2025, governing the Central Bank's regulation of financial institutions and activities.
As a result of these enforcement actions, Bank Melli Iran's branches in the UAE are prohibited from conducting any financial transactions with Iran, including trade finance and fund transfers. The decision was made following an examination based on the powers granted to the Governor of the Central Bank under existing laws and regulations.
The Central Bank emphasizes its commitment to strengthening its supervisory framework and ensuring the integrity of the financial system in the UAE. It aims to ensure that financial institutions comply with the highest international standards and best practices.