The administrative penalties stem from the eight banks’ failure to comply with Central Bank instructions not to provide loans or credit facilities to persons benefiting from loans from the Troubled Debt Treatment Fund, including debit cards. credit.
The Central Bank of the United Arab Emirates, through its supervisory and supervisory functions, ensures that all licensed financial institutions operating in the United Arab Emirates, including banks, comply with the laws in force in the country, as well as as the regulations and standards approved by the Central Bank, with the aim of preserving the transparency and integrity of banking activities and protecting the financial system of the State.
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