The Central Bank of the UAE has imposed enforcement measures on all Bank Melli Iran branches operating in the UAE, prohibiting them from conducting financial transactions to and from Iran. The restriction covers trade finance and fund transfers. The measures follow examinations that identified failures to comply with UAE regulations, laws and supervisory decisions, including requirements concerning anti-money laundering, counterterrorist financing and proliferation financing. The action was taken under 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.
2026-09-23Central Bank of the UAE
Central Bank of the UAE prohibits Bank Melli Iran branches from conducting transactions to and from Iran
The Central Bank of the UAE has prohibited all UAE branches of Bank Melli Iran from conducting financial transactions to and from Iran, including trade finance and fund transfers. The action follows findings of noncompliance, including breaches of requirements addressing money laundering, terrorist financing and proliferation financing.