UAE Central Bank and Financial Institutions Decree-Law

Article 181 — Article (181)

Part Six: Administrative and Financial Sanctions and Penalties · Chapter Two: Penalties

1. Where a violation was committed by a juridical person, the official in charge of management shall be punished by the same penalties prescribed for actions committed in violation of the provisions of this decree-law, whenever his knowledge of the violation was established, or if the violation was a result of his negligence or failure to perform his duties.        2. The juridical person shall be jointly liable with the manager in charge in respect of the adjudged financial fines and damages, if the violation was committed, in his name and on his behalf, by one of his employees.

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