UAE International Investment Council completes senior leadership structure UAE bank assets reach $1.53trln in May, central bank says Bahrain set for major e-invoicing push Dubai Taxi migrates core systems to du's sovereign cloud platform Saudi Aramco considers new pricing for Sidi Kerir oil exports to Asia, sources say PDO to supply up to 200 MW to Oman grid under five-year power deal Invest in Oman secures $1.1bln in projects during H1 2026 Oman achieves new milestone in government digital transformation journey UAE, Jordan sign Memorandum of Understanding to establish Joint Consular Committee UAE reinforces global food standards at Codex meetings in Geneva Bahrain Bourse appoints Al Ramz Capital to expand equity research coverage Al Ansari enters Western Union Partnerships in Bahrain and Kuwait Oman advances in global environmental index QCB grants license to set up first insurance price comparison website in Qatar Saudi PIF set to win EU nod for Electronic Arts deal under subsidy rules, sources say IMF says UAE economy remains resilient despite regional tensions UAE non-oil trade rises 13.1% to $527.5bln in first half of 2026 Bahrain pushes ahead with Muharraq city redevelopment plan Halliburton wins multi-year Aramco gas development contract Saudi: Kent secures long-term deals with Aramco for future EPC projects Oman and Jordan launch $100mln investment firm Modon, ADIB introduce Abu Dhabi’s first off-plan home financing solutions Abu Dhabi launches maritime investment guide to attract global businesses Saudi Arabia inaugurates over 900km of roads to boost connectivity Gulftainer unveils $2bln global trade infrastructure strategy Saudi Arabia's trade surplus surges 60% to over $24bln in Q1 2026 Sharjah Chamber registers 30,000 memberships in H1 Dubai's AMIS breaks ground on Jacob & Co.’s villa community; targets $10bln IPO in three years UAE's new government work model to deploy Agentic AI in public services Indonesia, Kuwait strengthen strategic energy partnership

Log in

عربي

Media Centre

Home » Media Centre

CBUAE fines UAE bank for anti-money laundering lapses

CBUAE fines UAE bank for anti-money laundering lapses

CBUAE fines UAE bank for anti-money laundering lapses

Aug 02, 2024

ABU DHABI: The Central Bank of the UAE (CBUAE) imposed a financial sanction on a bank operating in

the UAE, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering

and Combating the Financing of Terrorism and Financing of Illegal Organisations.

The financial sanction is the result of the findings of an examination conducted by the CBUAE, which

revealed that the bank had deficiencies in its AML/CFT policies and procedures. Accordingly, the CBUAE

has imposed a fine of AED5,800,000 on the bank.

The CBUAE, through its supervisory and regulatory mandates, works to ensure that all banks, their

owners and staff abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard

the transparency and integrity of the banking sector and the UAE financial system.