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UAE Central Bank bans Bank Melli Iran from transactions
The Central Bank of the United Arab Emirates has imposed strict enforcement measures against the branches of Bank Melli Iran operating within the country. Under Article 168-1-C of Federal Law No. 6 of 2025, the bank is prohibited from conducting any financial transactions to or from Iran, a ban that encompasses both regular fund transfers and the financing of trade businesses.
The regulatory action follows inspections that revealed violations regarding compliance with existing laws and regulations, specifically concerning anti-money laundering, terrorism financing, and proliferation financing requirements. This decision follows a previous move in August by the UAE to suspend all trade and financial transactions with Tehran due to regional tensions.
This move increases economic pressure on Iran amid ongoing regional conflicts. US Treasury Secretary Scott Bessent has noted that pressure on Iran is being increased to unprecedented levels, as the United States continues to seek the economic isolation of the Islamic Republic through various sanctions and secondary measures.
Entities
Bank Melli · Bank Melli Iran · Central Bank of the United Arab Emirates · Iran · Scott Bessent · United Arab Emirates · United States Department of the Treasury
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 6 SOURCES] Bank Melli is prohibited from processing financial transactions to or from Iran within the UAE. www.ad-hoc-news.de · www.upday.com · www.finanzen.net · www.albiladpress.com · ettelaat.net · +1 more
- [● 6 SOURCES] Bank Melli is accused of violating laws regarding money laundering, terrorism financing, and proliferation financing. www.ad-hoc-news.de · www.upday.com · www.finanzen.net · www.albiladpress.com · ettelaat.net · +1 more
- [● 2 SOURCES] The sanctions are based on Article 168-1-C of Federal Law No. 6 of 2025. www.upday.com · www.albiladpress.com
- [● 4 SOURCES] US Treasury Secretary Scott Bessent stated that pressure on Iran is being increased to unprecedented levels. www.upday.com · www.finanzen.net · ettelaat.net · www.cash.ch
- [● 6 SOURCES] The ban covers both regular transfers and the financing of trade business. www.ad-hoc-news.de · www.upday.com · www.finanzen.net · www.albiladpress.com · ettelaat.net · +1 more