The Central Bank of the UAE (CBUAE) has imposed strict enforcement measures against branches of Bank Melli Iran operating in the UAE over violations of the country’s regulations, laws and supervisory decisions.
The measures were imposed in accordance with Article (168-1-C) of Federal Decree-Law No. (6) of 2025 regarding the Central Bank, Regulation of Financial Institutions and Activities, and Insurance Business.
The violations included non-compliance with requirements and obligations under UAE legislation relating to combating money laundering, the financing of terrorism and proliferation financing.
Following examinations of the branches, and under the powers granted to the Governor of the CBUAE, the central bank decided to prohibit all branches of Bank Melli Iran operating in the UAE from conducting financial transactions to and from Iran.
The prohibition includes trade finance and fund transfers.
The CBUAE said it would continue to strengthen its supervisory framework and take measures to safeguard the soundness and integrity of the UAE financial system.
It added that financial institutions and entities under its supervision must comply with the highest standards of compliance, in line with relevant international best practices and standards.
