The UAE Central bankThe institution that sets monetary policy for a country or currency area, including interest-rate decisions that can move currencies.Read More has imposed sanctions on branches of Bank Melli Iran, increasing financial restrictions on the Iranian bank and adding pressure to its operations in the UAE.
The Central Bank of the United Arab Emirates imposed sanctions on branches of Iran's Bank Melli operating in the UAE. Reuters reported the bank was barred from operating in the Gulf state, with the central bank citing breaches of regulatory requirements. The action follows the UAE's August suspension of trade, commercial exchanges and financial transactions with Iran, adding a new financial ChannelA pair of roughly parallel boundaries that contain price as it trends or ranges. The channel gives structure, not a guaranteed bounce.Read More to worsening regional tensions.
