The Central Bank of the UAE has imposed a financial penalty of AED 1,820,000 on a licensed branch of a foreign bank operating in the country, citing a breach of consumer protection regulations.
The fine followed inspection work carried out by the Central Bank, which found that the branch had failed to issue a liability certificate within the prescribed seven-day period. The Central Bank said this constituted a violation of its market conduct and consumer protection standards.
The penalty was issued under Federal Decree-Law No. 6 of 2025, which governs the Central Bank and regulates financial institutions and insurance activities.
The Central Bank said its supervisory and regulatory mandate covers all banks licensed in the UAE, along with their leadership and staff, and that enforcement action of this kind is aimed at protecting the integrity of the financial system and ensuring compliance with applicable rules.
The name of the foreign bank branch was not disclosed.
