20 Hrs
Source:
الاقتصادية
UAE Central Bank Targets Iran Bank Branches
The Central Bank of the United Arab Emirates has imposed strict penalties on the branches of Mell Iran Bank operating in the UAE due to violations related to non-compliance with local regulations and laws, particularly those concerning anti-money laundering and counter-terrorism financing. Based on inspection results, all branches have been prohibited from conducting any financial transactions with Iran, including trade financing and financial transfers, in order to protect the integrity of the financial system and enhance adherence to international regulations. This measure is part of the bank's efforts to strengthen oversight and ensure compliance with financial integrity standards within the country.
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