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The Economic Times

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UAE central bank imposes strict sanctions on Bank Melli Iran branches

The UAE's central bank has prohibited Iran's Bank Melli from conducting operations in the country. This decision follows the UAE's suspension of trade and financial transactions with Iran in August. Bank Melli, established in 1969, has seven branches in various emirates, with its main office located in Dubai. The UAE has historically been an essential economic partner for Iran, despite ongoing US sanctions.

24 Sep 2026 7:30 am