UAE Central Bank fines a bank Dh5 million for violating anti-money laundering laws

The Central Bank (CBUAE) on Monday imposed a fine of Dh5 million on a bank operating in the UAE for violating anti-money laundering laws and for funding illegal organisations. The financial sanction was imposed according to articles 89 and 137 of the Federal Decree Law No. (14) of 2018 regarding the Central Bank & Organisation of Financial Institutions and Activities and its amendments, and article 14 of the Federal Decree Law No.

(20) of 2018 on Anti-money Laundering and Combating the Financing of Terrorism and Illegal Organisations. Stay up to date with the latest news. Follow KT on WhatsApp Channels.



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