UAE cancels licence for Russia’s sanctioned MTS Bank
- Date: 02-Apr-2023
- Source: Arab Weekly
- Sector:Financial Services
- Country:UAE
UAE cancels licence for Russia’s sanctioned MTS Bank
DUBAI –
The United Arab Emirates’ central bank on Friday said it will cancel the licence it granted last year to Russia’s MTS bank, which was placed under British and US sanctions in February.
Operations at the bank’s UAE branch, which is licensed in the emirate of Abu Dhabi, will be wound down within six months under UAE central bank supervision.
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