Crown Prince of Dubai, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has issued Executive Council Resolution No. (101) of 2024 to address administrative violations by foreign banks operating in Dubai.
The resolution outlines specific breaches and the penalties associated with them, aiming to promote compliance and uphold high standards of governance within the emirate's banking sector.
The resolution is part of efforts to ensure responsible operations among foreign banking institutions and will come into effect upon publication in the Official Gazette.
News Source: Dubai Media Office
