UAE: Dubai watchdog restricts HDFC Bank branch from offering financial services to new customers September 27, 2025 at 11:18PM

Dubai’s financial regulator has barred HDFC Bank’s Dubai International Financial Centre office from onboarding new clients or promoting financial services due to concerns over onboarding practices. Existing customers remain unaffected. The move relates to past regulatory scrutiny over mis-selling high-risk Credit Suisse bonds. HDFC Bank said the branch’s business is not material to its overall operations and is cooperating with authorities.