UAE central bank slaps over Rs 13 crore monetary sanction on Bank of Baroda

The Central Bank of the United Arab Emirates has imposed a financial sanction of AED 6,833,333 (amounting to Rs 13.56 crore) on Bank of Baroda, GCC Operations, Dubai for deficiencies in compliance of Federal Decree Law of 2018 on Anti Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations, the bank said in a release.

from Banking/Finance-Industry-Economic Times https://ift.tt/2YcNj9z