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The Central Bank has imposed penalties related to the law on anti-money laundering and counter-terrorism financing. Nicole Hill / The National

UAE Central Bank fines three exchange houses Dh4.1 million

Move comes as banking regulator cracks down on regulatory non-compliance

Banking

UK-US trade deal begins as steel negotiations continue

Emirates NBD to start charging for some international transfers

UAE bank's Islamic window suspended from taking on customers for six months

UAE Central Bank fines exchange house Dh3.5m for compliance failure

Turkish companies expect more deals to support Syrian reconstruction

Expansion push to help JP Morgan double its Middle East revenue by 2030



In focus

The vehicle drove past lines of cars stuck in standstill traffic. Dubai Police

Dubai Police release footage of driver overtaking on hard shoulder at high speed

The 10th-century poet Abu Al Tayeb Al Mutanabbi. Poetry is often considered to be the favourite class of art among Arab societies both today and throughout history.

CommentHow poetry can help us understand the Gulf's economic history

UAE artist and graphic designer Hannan Arshad explores storytelling through material fabrication and historical research. Photo: Admaf

Indian artist's edible brick installation wins Christo and Jeanne-Claude Award

City Football Schools and Al Jazira Club have linked up to help the development of players as young as six. Photo: City Football Schools

Man City and Al Jazira hope to produce UAE stars through academy collaboration

Parkin manages more than 200,000 paid parking spaces across Dubai. Chris Whiteoak / The National

New 24-hour paid parking zone introduced in Dubai

Iga Swiatek celebrates after beatiing Liudmila Samsonova at Wimbledon. AFP

Swiatek left with 'goosebumps' after reaching Wimbledon semi-finals

General view of crowds of people crossing the road in Dubai. Chris Whiteoak / The National

These are the roles driving UAE job growth

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Data explainedThe future of the population in the Middle East


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The UAE Central Bank did not name the two fined lenders. Wam

UAE Central Bank fines branches of foreign banks Dh18.1m for breaking rules

Penalties of Dh10.6 million and Dh7.5 million imposed on foreign lenders

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An HSBC bank branch in London. Despite its high-flown status, the bank nearly brought down the industry in the UK and imperiled operations in many other places. EPA

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KKR's office in New York. The private equity firm will expand its presence in the Middle East where it has offices in Dubai and Riyadh. Getty Images

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Bernard Mensah, President of International at Bank of America. Bloomberg via Getty Images

ExclusiveBank of America sees deals slowdown as investors wait for Trump

A sense of the 'new playing field' is needed as global bank chiefs arrive in Dubai for annual global summit

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UAE Central Bank follows Fed in keeping interest rates steady

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UAE buyers to pay higher upfront property costs as Central Bank issues new orders

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Millionaires head for UAE as they quit UK amid tax hikes

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Mohamed Abdelbary, group chief executive of ADIB, says it plans to boost its business in Egypt and Saudi Arabia. Victor Besa / The National

ExclusiveFuture of banking is AI-driven, Abu Dhabi Islamic Bank CEO says

With an in-house digital lab and a team of data scientists, the lender is pouring about 25 per cent of its annual cost into technology investment

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Group chief executive Adnan Chilwan anticipates Dubai Islamic Bank's lending growth to match the projected 10 per cent increase this year. Photo: DIB

ExclusiveDubai's DIB open to acquiring other banks and FinTech businesses

The UAE's biggest Islamic lender has grown its balance sheet from close to Dh100bn a decade ago to more than Dh300bn and aspires to expand it further

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Bitcoin Mena: Crypto could be ‘revolutionary step’ for Islamic finance

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