Central Bank revokes MTS Bank Abu Dhabi branch licence
The Central Bank of the UAE (CBUAE) has revoked the operating licence of MTS Bank's Abu Dhabi branch, effective immediately. Customers and counterparties of that branch must cease new business and begin orderly wind-down of existing relationships. Contact CBUAE or MTS Bank's head office for guidance on account transfers and settlement of outstanding obligations.
The analysis — automated & source-checked
- Applies to
- Financial services · UAE
- What to do
- If you hold accounts or conduct business with MTS Bank Abu Dhabi branch, contact the bank or CBUAE immediately to arrange account transfers and settlement of any outstanding transactions.
Source
“The Central Bank of the UAE (CBUAE) has revoked the operating licence of MTS Bank's Abu Dhabi branch, effective immediately. Customers and counterparties of that branch must cease new business and begin orderly wind-down of existing relationships.”
— Central Bank of UAE, 31 Mar 2023
Source: Central Bank of UAE — official 31 Mar 2023 Read the original ↗ More from Central Bank of UAE →
Quick answers
What do I need to do?
If you hold accounts or conduct business with MTS Bank Abu Dhabi branch, contact the bank or CBUAE immediately to arrange account transfers and settlement of any outstanding transactions.
Who issued this?
Central Bank of UAE (UAE).
When was it announced?
31 Mar 2023.
Where can I read the original?
Read the original at Central Bank of UAE: https://www.centralbank.ae/en/news-and-publications/news-and-insights/press-release/cbuae-revokes-the-licence-of-mts-bank-branch-in-abu-dhabi/
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