The Dubai Financial Services Authority (DFSA) has prohibited HDFC Bank’s branch at the Dubai International Financial Centre (DIFC) from onboarding new clients. The decision follows regulatory concerns flagged during a compliance review.

HDFC Bank, one of India’s largest private sector banks, has assured that existing clients and services will not be affected. The restriction is temporary and will remain in place until the branch addresses the identified issues to DFSA’s satisfaction.

This action highlights Dubai’s strict enforcement of financial regulations and the importance of compliance by global banks operating in the region.