Regulatory Alerts2025-07-29
Administrative and Financial Penalties for Emiratization Violations Regulation
The Central Bank of the UAE issued this regulation to enforce Emiratization targets within licensed financial and insurance institutions by establishing monitoring mechanisms and defining specific violations. It prohibits practices such as fictitious employment ratios and the submission of inaccurate data, mandating immediate reporting of non-compliance with employment terms. The framework authorizes the imposition of administrative and financial penalties, including fines up to one million dirhams for fictitious Emiratization, while directing collected funds toward national workforce development initiatives.
Share