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ARTICLE 11: ENFORCEMENT

C 13/2021 Effective from 14/2/2021
  1. 11.1 Violation of any provision of this Regulation and any accompanying Standards may be subject to supervisory action and administrative & financial sanctions as deemed appropriate by the Central Bank.
     
  2. 11.2 Supervisory action and administrative & financial sanctions by the Central Bank may include withdrawing, replacing or restricting the powers of Senior Management or members of the Board, providing for the interim management of the Bank, imposition of fines or barring individuals from working in the UAE banking sector.