DFSA Restricts HDFC Bank’s Dubai Branch from Onboarding New Clients

announced that its Dubai International Financial Centre branch has been directed by the Dubai Financial Services Authority (DFSA) to halt onboarding of new clients effective September 26, 2025, citing concerns over gaps in its onboarding process. The restriction applies to activities such as advising on financial products, arranging deals in investments and credit, and custody-related services. Importantly, the directive allows the continued servicing of its 1,489 existing customers (as of September 23, 2025) and those already in the pipeline, with no material financial impact expected given the branch’s limited contribution to overall operations. The bank has initiated corrective steps and reaffirmed its commitment to address regulatory concerns in close coordination with the DFSA. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.