The branch of a foreign bank operating in the UAE has been fined AED 600,000 for failing to comply with market conduct and consumer protection regulations.
The penalty follows an inspection by the Central Bank, which found violations of UAE banking standards.
The action was taken under Article 137 of the Federal Law No. 14 of 2018, governing financial institutions.
Authorities say the move is part of ongoing efforts to uphold transparency and integrity across the country’s financial sector.
UAE President and NATO Secretary General discuss regional developments
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a phone call on Monday with Mark Rutte, Secretary General of the North Atlantic Treaty Organisation (NATO), to discuss the ongoing military escalation in the region and its implications for regional and international security.
UAE air defences intercept 7 missiles, 16 drones on Monday
The UAE air defences have intercepted 7 ballistic missiles and 16 drones launched from Iran on Monday, an update from the Ministry of Defence confirmed.
UAE President meets with France's Armed Forces Minister in Abu Dhabi
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan discussed strengthening defence ties with Catherine Vautrin, Minister of the Armed Forces and Veterans Affairs of France, during a meeting in Abu Dhabi on Monday.
UAE condemns the targeting of a hospital in Sudan's Darfur
The United Arab Emirates, on Monday, strongly condemned and denounced the strike on a hospital in East Darfur in Sudan, which resulted in 64 deaths and injuries to 89 people.
Abdullah bin Zayed discusses latest developments with foreign ministers
His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, held calls with a number of foreign ministers on Monday, to discuss the latest regional developments amid Iran’s continued attacks targeting the UAE and several countries in the region.
Scholarship applications opens for 'exceptional' Emirati students
Applications have opened for the third cohort of the AED1.1 billion Hamdan bin Mohammed Scholarship that gives exceptional Emirati students access to leading global universities and prepare them to become Dubai's future leaders.
UAE and Indonesian Presidents discuss regional developments
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and his Indonesian counterpart Prabowo Subianto has underscored the need for an immediate halt to the military escalation during a phone call.
UAE issues safety guidelines, travel advisories due to unstable weather
Authorities in the UAE have issued safety guidelines as unstable weather continues to impact several parts of the country.
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Pinoy Expat Corner
What does someone working on a yacht usually do? Are they often out at sea, and how long do they usually stay there?
