UAE Central Bank Blocks Iran’s Bank Melli Operations

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UAE Central Bank Blocks Iran’s Bank Melli Operations
  • 24 Sep, 16:45
  • Iran

The Central Bank of the United Arab Emirates has barred Iran’s state-owned Bank Melli from conducting financial operations in the UAE.

The regulator said the restrictions cover transfers between Iran and the UAE, interbank transactions, account services and trade financing, according to dpa.

The UAE central bank accused Bank Melli of systematically violating regulations related to anti-money laundering, combating the financing of terrorism and preventing the proliferation of weapons of mass destruction.

The decision comes amid ongoing economic and military tensions between Iran and the US.

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UAE Central Bank Blocks Iran’s Bank Melli Operations

The Central Bank of the United Arab Emirates has barred Iran’s state-owned Bank Melli from conducting financial operations in the UAE.