24 Hrs
Source:
الاتحاد
Central Bank penalizes Milli Iran branches in UAE
The Central Bank of the United Arab Emirates has announced strict penalties on the branches of Milli Iran Bank operating in the UAE, due to violations related to non-compliance with regulations and legislation, especially regarding anti-money laundering and counter-terrorism financing. Based on inspection results and the bank's authority, all of its financial transactions with Iran have been prohibited, including trade financing and money transfers, in order to safeguard the stability of the financial system and strengthen compliance with international standards.
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