Russia's MTS bank has UAE licence -central bank website | Reuters
The Central Bank of the United Arab Emirates has granted a licence to Russia's MTS Bank, according to information on its website.
MTS Bank is registered in Abu Dhabi and received the licence last year, the information shows.
It is a fintech unit of Russia's largest mobile operator Mobile TeleSystems. The Financial Times reported the approval from the central bank earlier on Wednesday.
Sweeping Western sanctions against Russia have not yet directly targeted telecoms infrastructure, meaning MTS does not face the same restrictions as some banks and energy companies.
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