The Dubai Financial Services Authority has banned two private bankers at a UK lender from operating in the emirate, after claiming they knowingly misrepresented the terms of financial products sold to their clients.

The DFSA said in a statement that Vanita Chatterbhoj and Sweta Nayar, both former private bankers at UK bank Barclays, have been banned from carrying out financial services "in or from the DIFC".