The Central Bank of the UAE (CBUAE) has directed all Bank Melli Iran branches operating in the UAE to stop any financial transactions to and from Iran, including trade finance and fund transfers.

According to the regulator, the enforcement measures result from violations related to non-compliance with the regulations, laws and supervisory decisions applicable in the UAE.

These include requirements and obligations under legislation on combating money laundering, the financing of terrorism and proliferation financing.

The CBUAE imposed the measures in accordance with 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.

Examination results formed the basis of the decision, which the CBUAE made in accordance with the powers granted to its Governor under the applicable laws and regulations.

The central bank said it continues to enhance its supervisory framework and take the necessary measures to safeguard the soundness and integrity of the UAE financial system.

It also aims to ensure that financial institutions and entities under its supervision meet the highest compliance standards, in line with relevant international best practices.

Featured image: Edited by Fintech News UAE, based on image by Central Bank of the UAE (CBUAE) via its website.