On Friday, the UAE Central Bank reviewed a statement issued regarding a new package of sanctions against the Russian Federation, including Russia’s MTS Bank.
The UAE Central Bank said in a statement: “The Central Bank would like to confirm the following: The Central Bank has granted MTS Bank a license to open a branch in Abu Dhabi in accordance with its approved licensing procedures after the bank meets the criteria for licensing foreign bank branches.”
In his statement, he stressed that the Russian Bank has contributed to supporting legitimate trade between the two countries and serving the Russian community in the UAE under the control of the Central Bank.
He stated that the Central Bank reviewed the branch’s anti-money laundering and counter-terrorist financing policies and reviewed the relevant electronic systems before the UAE branch began operating in accordance with the requirements for licensing banks to operate in the UAE. a country.
In a statement, he indicated that given the circumstances the bank’s headquarters country is going through, the central bank has been monitoring trade finance transactions above a certain limit, explaining that it is currently exploring available options regarding the status of the new bank. , and timely makes an appropriate decision on this matter, taking into account the Obligations assumed by the branch in the previous period.
And the US Treasury announced new sanctions against Russia that included 22 individuals and 83 Russian entities, as well as 30 individuals and entities from third countries “helping Russia evade sanctions,” according to Washington.
Source: RT