Latest news with #AED10.7
Dubai Eye
3 days ago
- Business
- Dubai Eye
UAE Central Bank imposes fine of AED600,000 on finance company
The UAE's Central Bank on Wednesday said it imposed a fine of AED 600,000 on a finance company for reportedly failing to comply with market and consumer protection standards. In a statement, the authority said the action was taken after CBUAE inspections revealed that the finance company had failed to comply with the "Market Conduct and Consumer Protection Regulations and Standards". The authority did not reveal the name of the company. Earlier this week, the Central Bank had imposed a AED10.7 million fine on an exchange house for violations of anti-money laundering and counter-terrorism financing regulations. It also shut down three exchange houses for similar violations in July, as the country cracks down on non-compliance with regulations. The #CentralBankUAE imposed a financial sanction of amount AED 600,000 on a Finance Company, pursuant to Article (137) of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments. For more… — Central Bank of the UAE (@centralbankuae) August 6, 2025
ARN News Center
4 days ago
- Business
- ARN News Center
UAE Central Bank imposes fine of AED600,000 on finance company
The UAE's Central Bank on Wednesday said it imposed a fine of AED 600,000 on a finance company for reportedly failing to comply with market and consumer protection standards. In a statement, the authority said the action was taken after CBUAE inspections revealed that the finance company had failed to comply with the "Market Conduct and Consumer Protection Regulations and Standards". The authority did not reveal the name of the company. Earlier this week, the Central Bank had imposed a AED10.7 million fine on an exchange house for violations of anti-money laundering and counter-terrorism financing regulations. It also shut down three exchange houses for similar violations in July, as the country cracks down on non-compliance with regulations. The #CentralBankUAE imposed a financial sanction of amount AED 600,000 on a Finance Company, pursuant to Article (137) of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments. For more… — Central Bank of the UAE (@centralbankuae) August 6, 2025
TAG 91.1
4 days ago
- Business
- TAG 91.1
UAE Central Bank imposes fine of AED600,000 on finance company
The UAE's Central Bank on Wednesday said it imposed a fine of AED 600,000 on a finance company for reportedly failing to comply with market and consumer protection standards. In a statement, the authority said the action was taken after CBUAE inspections revealed that the finance company had failed to comply with the "Market Conduct and Consumer Protection Regulations and Standards". The authority did not reveal the name of the company. Earlier this week, the Central Bank had imposed a AED10.7 million fine on an exchange house for violations of anti-money laundering and counter-terrorism financing regulations. It also shut down three exchange houses for similar violations in July, as the country cracks down on non-compliance with regulations. The #CentralBankUAE imposed a financial sanction of amount AED 600,000 on a Finance Company, pursuant to Article (137) of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments. For more… — Central Bank of the UAE (@centralbankuae) August 6, 2025
Dubai Eye
01-08-2025
- Business
- Dubai Eye
UAE Central Bank fines exchange house AED10.7 million
The Central Bank of the UAE (CBUAE) has imposed a fine of AED10.7 million on an exchange house for violations of anti-money laundering and counter-terrorism financing regulations. The decision was taken after an investigation conducted by the Central Bank revealed that the exchange house failed to "comply with anti-money laundering and combating the financing of terrorism policies." The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners and staff abide by the UAE laws adopted to safeguard the transparency and integrity of the UAE financial system.
ARN News Center
01-08-2025
- Business
- ARN News Center
UAE Central Bank fines exchange house AED10.7 million
The Central Bank of the UAE (CBUAE) has imposed a fine of AED10.7 million on an exchange house for violations of anti-money laundering and counter-terrorism financing regulations. The decision was taken after an investigation conducted by the Central Bank revealed that the exchange house failed to "comply with anti-money laundering and combating the financing of terrorism policies." The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners and staff abide by the UAE laws adopted to safeguard the transparency and integrity of the UAE financial system.
