UAE Central Bank sanctions Bank Melli Iran over compliance breaches

The Central Bank of the UAE has imposed strict enforcement measures on the UAE branches of Bank Melli Iran following violations of regulatory requirements, including legislation related to anti-money laundering and combating the financing of terrorism and proliferation financing.

Based on the findings of supervisory examinations, the Central Bank has prohibited all UAE branches of Bank Melli Iran from conducting financial transactions to and from Iran, including trade finance activities and fund transfers.

The move was taken under the powers granted under Federal Decree-Law No. 6 of 2025 regarding the Central Bank, the regulation of financial institutions and activities, and insurance business.

The Central Bank said it continues to strengthen its supervisory framework and take necessary measures to protect the soundness and integrity of the UAE's financial system, while ensuring financial institutions adhere to the highest compliance standards and international best practices.

Central Bank imposes strict sanctions on branches of Bank Melli Iran operating in UAE#WamNews https://t.co/qJQxvsqD84 pic.twitter.com/9Rm4mS7v2M

— WAM English (@WAMNEWS_ENG) September 23, 2026