HDFC Bank Barred From Adding New Clients At Dubai Branch By Regulator

HDFC Bank has been restricted by the Dubai Financial Services Authority (DFSA) from onboarding or soliciting new customers at its Dubai branch. The bank can continue serving its 1,489 existing clients. The action stems from alleged violations related to onboarding procedures. HDFC Bank is cooperating with the DFSA and says the impact will not be material.