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The central bank imposed strict enforcement measures on Bank Melli Iran branches operating in the UAE.
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The Central Bank of the UAE (CBUAE) has barred all Bank Melli Iran branches in the country from financial transactions to and from Iran, WAM reported.
It cited violations of UAE rules, including those on combating money laundering and terrorism financing.
What sanctions did the UAE central bank impose on Bank Melli Iran?
The central bank imposed strict enforcement measures on Bank Melli Iran branches operating in the UAE. They can no longer conduct any financial transactions to and from Iran.
The ban covers trade finance and fund transfers.
Why did the UAE central bank act against Bank Melli Iran?
The measures follow violations of regulations, laws and supervisory decisions in force in the UAE. These include obligations under legislation on combating money laundering, terrorism financing and proliferation financing.
The decision is based on the results of examinations. The central bank governor made it under powers granted by applicable laws and regulations.
Which law did the UAE central bank use for the sanctions?
The central bank acted under Article 168-1-C of Federal Decree-Law No. 6 of 2025.
The law governs the central bank, the regulation of financial institutions and activities, and insurance business.
What will the UAE central bank do next?
The CBUAE said it will keep strengthening its supervisory framework. It aims to protect the soundness and integrity of the UAE financial system.
The bank also wants supervised institutions to meet the highest compliance standards, in line with international best practices.
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