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.
Eleven agreements signed at Al Ain Future Business Forum
UAE, Argentina launch CEPA negotiations
Meraas awards AED 1 billion contract for Nad Al Sheba Gardens expansion
Meta launches AI gadget Charm as race for post-smartphone hardware heats up
UAE Central Bank sanctions Bank Melli Iran over compliance breaches
