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Enforcement

The Enforcement Department’s core functions are to support the strategic objectives of the Central Bank of the UAE through a disciplined twofold approach: protection and deterrence.

Protection includes removing individuals from designated functions to make sure they are no longer a threat to the interests of depositors and policyholders, the UAE's financial system or to the CBUAE.  

Deterrence includes imposing administrative and/or financial sanctions to make sure others are deterred from committing violations, because they will see that there are consequences.

 

Download the Enforcement Policy 

 

The Grievances and Appeals Committee (GAC) has exclusive jurisdiction to hear grievances and appeals concerning decisions  regarding licensing and authorization of individuals, licensing and identification of financial infrastructure systems and decisions on the imposition of administrative and financial sanctions issued by the Central Bank in accordance with the provisions of Federal Decree-Law No. 14 of 2018 concerning the Central Bank and the organization of financial institutions and activities.

 

Download the GAC Manual

The Department’s services include the following:

To impose administrative and/or financial sanctions and penalties on financial institutions and/or authorised persons.

To exchange information and collaborate with other financial regulators, supervisors and law enforcement agencies within and outside the UAE.

Enforcement Mandate and Policy

The Enforcement Department was established in 2018 with a mandate to support the CBUAE’s strategic objectives and enhance the regulatory and supervisory framework for Licensed Financial Institutions.



The Enforcement Department evaluates internal referrals and information from financial institutions and individuals to identify violations. The Department also proposes enforcement action, where appropriate.



The Enforcement Department exchanges information and collaborates with other financial regulators, supervisors and law enforcement agencies within and outside the UAE. The Department also works closely with the UAE’s Financial Intelligence Unit.

This is achieved by ensuring:
  • Financial stability and the integrity of the financial system.

  • Market conduct and consumer protection.  

  • Shari’ah compliance.

FAQs

The CBUAE’s departments refer cases internally to the Enforcement Department. 

Designated parties can report violations of the applicable laws and regulations throughenforcement@cbuae.gov.ae.   

At its discretion and subject to the enforcement policy, the enforcement decision may be publicised.    

The Central Bank Law and Anti Money Laundering Law both have provisions for financial institutions, or for an individual related to a financial institution, to submit a grievance or appeal. 

The applicable laws and regulations can be found here.  

In most cases, the financial institution and/or the individual related to it has the opportunity to make representations.  

Related Press Releases


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CBUAE imposes a financial sanction an exchange house operating in the UAE

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CBUAE imposes monitoring and financial sanctions on a bank operating in the UAE

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04 October 2021


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CBUAE issues new guidance for licensed financial institutions on transaction monitoring and sanctions screening

13 September 2021


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CBUAE issues new guidance on financial institutions’ implementation of targeted financial sanctions

26 July 2021


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CBUAE National Summit on Counter-Terrorist Financing and Sanctions discusses vital focus areas and detections measures

15 July 2021


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The CBUAE imposes an administrative sanction on S&S Brokerage House

18 May 2021


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CBUAE imposes financial sanction on an exchange house operating in the UAE

22 April 2021


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CBUAE imposes financial and administrative sanctions on a non-authorised individual related to an exchange house

25 February 2021


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CBUAE imposes financial sanction on an exchange house operating in the UAE

10 February 2021


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CBUAE imposes financial sanctions on 11 banks operating in the UAE

31 January 2021


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CBUAE imposes administrative sanction on a Finance Company operating in the UAE

23 January 2021


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CBUAE imposes administrative sanctions on two exchange houses operating in the UAE

26 October 2020


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Notification of Enforcement Action Administrative Sanction imposed on a Bank operating in the UAE

03 March 2020


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CBUAE’s 2019 National Summit on Counter Terrorist Financing and Sanctions concludes

18 November 2019

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Last updated on: Monday 10 October 2022

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