ADGM updates legal-persons ML/TF risk assessment
ADGM firms must calibrate CDD and monitoring to the 2026 LPA ML/TF risk assessment
UAE
33 briefs
Dubai Financial Services Authority prohibits and fines reinsurance broker for misleading conduct
DIFC reinsurance brokers must evidence premium and brokerage accuracy
DFSA
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FSRA warns fraudulent websites are impersonating Tungsten
Investors and onboarding teams must reject Tungsten-imitating websites not authorised by FSRA
OFAC adds Iran-linked refinery network to SDN List
Screening teams must block newly listed Iran-linked refinery parties immediately
OFAC
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UAE exits OPEC and OPEC+ from May 1
Oil traders must reassess Gulf supply outside OPEC quota discipline
UAE Central Bank updates AML guidance for licensed financial institutions
UAE financial institutions must recalibrate AML controls across PF, trade and CDD risk
CBUAE
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Abu Dhabi suspends Borouge petrochemical operations
Production halted pending safety inspection
UAE tightens tax procedures and extends record retention
Retention period extended and disclosure rules tightened
UAE suspends operations at Habshan gas facilities after fires
Production halted pending safety clearance
RBI approves Emirates NBD acquisition of RBL Bank
Foreign bank to acquire majority stake
UAE DFSA bars HDFC Bank DIFC branch from onboarding new clients
Branch blocked from new business due to compliance failures
RBI approves Emirates NBD takeover of RBL Bank
Majority acquisition triggers open offer