Archive · 28 Sep 2025
HDFC Bank Dubai Branch Barred from New Business
HDFC Bank's Dubai branch is not allowed to sign up new clients or start new financial business due to rules from the Dubai Financial Services Authority (DFSA).
The bank can still serve its current customers.
The DFSA sent a notice about this on September 26.
HDFC Bank is working to fix the problems, but the restrictions will stay until the DFSA changes them.
The bank says this won't greatly impact its overall business.
HDFC Bank's Dubai branch is barred from onboarding new clients and new business.
The ban comes from the Dubai Financial Services Authority (DFSA).
The DFSA issued a decision notice on September 26.
The ban covers soliciting new clients for financial services.
Existing clients can continue using services.
- Who
- HDFC Bank's Dubai branch
- What
- Prohibited from soliciting new clients and conducting new business
- When
- September 26, decision notice; restriction in place until amended or revoked
- Where
- Dubai International Financial Centre (DIFC)
- Why
- DFSA decision notice
HDFC Bank
DFSA / Regulators
Compliance
HDFC Bank
Initiated steps to comply with directives, working to resolve concerns.
DFSA / Regulators
Enforcing regulations and ensuring compliance with financial services rules.
- Bank
- HDFC Bank
- Branch Location
- Dubai International Financial Centre (DIFC)
- Regulator
- Dubai Financial Services Authority (DFSA)
- Restriction
- Prohibited from onboarding new clients and new business
- Services Restricted
- Soliciting new clients for financial services
- Reason
- DFSA decision notice
- Existing Clients
- Can continue using services
- Existing Clients Count
- 1,489 (as of Sept. 23, 2025)
Sources
UAE regulator bars HDFC Bank’s Dubai branch from onboarding new clients amid probe: Report
UAE regulator restricts HDFC Bank’s Dubai International Financial Centre branch from onboarding new clients
UAE Regulator Bars HDFC Bank's DIFC Branch from Onboarding New Clients Amid Compliance Concerns
UAE regulator bars HDFC Bank from taking on new customers at its Dubai branch
UAE Regulator Freezes HDFC Bank’s Dubai Branch from New Client Onboarding Amid Scrutiny
HDFC's Dubai Branch Operations Barred By UAE Regulator From New Client Onboarding, Bank Responds
Dubai regulator bars HDFC Bank’s DIFC branch from taking new clients
HDFC Bank barred from onboarding new clients in Dubai branch
