HDFC Bank ’s Dubai International Financial Centre has been barred from onboarding new clients or offering financial services to them, following regulatory action by Dubai’s financial watchdog. The action stems from concerns over the bank's onboarding practices and its role in past mis-selling of complex financial instruments. While existing clients remain unaffected, the decision adds to ongoing scrutiny the Indian bank faces in the UAE. The Dubai Financial Services Authority (DFSA) has imposed strict restrictions on the Dubai International Financial Centre (DIFC) branch of HDFC Bank Limited, preventing it from onboarding new clients or promoting any financial services until further notice. As per the DFSA’s statement issued on Thursday, September 25, the following activities are

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