The Central Bank of the United Arab Emirates (CBUAE) published a statement saying that it has sanctioned a bank operating in the UAE.

According to Amac News: The CBUAE announcement states that this decision is based on Articles 89 and 137 of the Federal Decree Law No. (14) of 2018 on the Central Bank and Organization of Institutions and Financial Activities and its Amendments and Article 14 of the Federal Decree Law No. (20) 2018 was taken on the fight against money laundering and the fight against the financing of terrorism and illegal organizations.
The CBUAE fined the bank Dh5 million and ordered the bank to present the central bank's action to the board of directors of its overseas headquarters, according to the announcement.
The CBUAE, through its supervisory and regulatory powers, strives to ensure that all banks, their owners and employees comply with UAE laws, regulations and standards adopted by the CBUAE to protect the transparency and integrity of the industry, the statement said. UAE banking and financial system follow suit.