Dubai Executive Council Decision No. 101 of 2024 On approving violations and administrative fines for foreign banks operating in the Emirate of Dubai


We, Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, 

- having reviewed Dubai Law No. 1 of 2016 on the Financial System of the Government of Dubai and its Executive Regulations and its amendments, 

- Dubai Law No. 26 of 2023 on the Dubai Executive Council, 

- Dubai Law No. 1 of 2024 on Taxation of Foreign Banks Operating in the Emirate of Dubai, 

have decided the following:



Article 1 - Definitions 

The words and phrases mentioned in this Decision shall have the same meanings assigned to them in Dubai Law No. 1 of 2024 referred to above.

Article 2 - Approval of Administrative Violations and Fines 

a. Without prejudice to any harsher penalty stipulated in any other decision, administrative violations and fines for foreign banks are hereby approved as specified in the table attached to this Decision.

b. The value of the fine specified in the table attached to this Decision shall be doubled if the same administrative violation is committed again within two years from the date of...