The Central Bank of the United Arab Emirates prohibited Bank Melli Iran’s UAE branches from conducting transactions to or from Iran. The restriction covers all financial transactions to and from Iran, including trade finance and fund transfers. The regulator said it acted after finding failures to comply with requirements addressing money laundering, terrorist financing and proliferation financing.
The measure was imposed under Article 168-1-C of Federal Decree-Law No. 6 of 2025, the central bank said. Bank Melli has operated in the UAE since 1969 and has seven branches in the country. The regulator did not disclose a financial penalty.
TRANSACTION CHANNELS CURTAILED
The order targets Iran-linked flows rather than stating that every local banking activity must cease.
The decision followed the UAE's suspension in August of trade and financial transactions with Iran. The announcement did not specify the volume of business covered or the duration of the restriction.
NO DETAIL ON DEFICIENCIES
The central bank has not published the detailed deficiencies or Bank Melli’s response.
The CBUAE said it remains committed to maintaining the soundness and integrity of the UAE's financial system.