The Central Bank of the UAE has reportedly imposed financial penalties of AED381 million ($104 million) over violations by financial institutions since the start of 2025.
The fines were issued after 19 inspections of 35 financial institutions, including 20 exchange companies, 11 banks, three insurance companies and one finance company, according to central bank data.
The penalties are part of the bank’s oversight and regulatory functions aimed at maintaining transparency and stability of the financial sector.
Additionally, the central bank cancelled licences of exchange houses and temporarily restricted operations at some banks and insurers for breaching rules.
Local exchange houses accounted for 92% of the total fine, amounting to AED350 million, the report said. The balance was shared between banks and two insurance companies.
Around 98% of the fines, amounting to AED374 million, were due to non-compliance with the anti-money laundering and combating the financing of terrorism policies and related regulations. These were divided among 23 institutions, including three banks and 20 exchange companies, the report said.
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