The Central Bank of the UAE (CBUAE) has imposed more than Dh370 million in fines since the start of 2025, targeting banks, money exchange houses, insurers, and a finance company. The move comes as part of one of the most extensive enforcement campaigns in recent years, aimed at strengthening financial oversight and compliance standards in the country.

The penalties were not limited to monetary fines — they also included license cancellations, operational suspensions, and restrictions. In some cases, senior executives were personally fined, including a branch manager who was ordered to pay Dh500,000 and barred from holding specialized financial roles in the UAE.

The most severe action was taken in May 2025, when the Central Bank levied a Dh200 million fine on a money exchange company, alongside a Dh500,000 penalty against its branch manager. Earlier in the year, another firm was fined Dh100 million, while several foreign banks faced multimillion-dirham sanctions for compliance failures.

Inspections revealed violations in three critical areas: non-compliance with federal laws governing licensed financial institutions, weak anti-money laundering (AML) and counter-terrorism financing (CFT) frameworks, and breaches of consumer protection and market conduct standards.

The Central Bank also revoked the licenses of several exchange houses, including Gomti Exchange and Al Hindi Exchange, while shutting down branches of foreign insurers. One local bank was ordered to suspend onboarding new Islamic banking clients for six months due to significant compliance lapses.

Analysts say the crackdown underscores the UAE’s commitment to transparency, consumer protection, and global credibility. The measures also follow the European Union’s decision to remove the UAE from its list of high-risk jurisdictions for money laundering and terrorism financing — a move that highlights the country’s strengthened regulatory regime.

By holding institutions accountable, the Central Bank aims to safeguard financial stability and reinforce the UAE’s position as a trusted international financial hub.