DUBAI: The Central Bank of the UAE (CBUAE) on Wednesday imposed a financial sanction of Dh5.9 million on a foreign bank branch operating in the UAE for violating anti-money laundering rules.
The financial sanction is based on a CBUAE examination, which revealed the bank failed to comply with its Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework, and related regulations.
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