The Central Bank of the UAE (CBUAE), on Thursday, fined an unnamed exchange house AED100 million due to what it called significant failures in the company's regulatory framework.
The financial sanction is based on the results of the findings of examinations conducted by the CBUAE, with regards to Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations regulations.
The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by UAE laws, regulations and standards to maintain transparency and integrity in financial transactions and safeguard the UAE financial system.
US, India unveil interim trade framework, move closer to broad pact
Aldar, Dubai Holding announce next phase of strategic partnership
Dubai regulator fines investment firm AED 1.8 million over compliance issues
UAE, US sign framework to secure critical mineral supply chains
ERC inks agreement to develop teachers housing in Fiji
