Latest news with #AntiMoneyLaundering
Zawya
20 hours ago
- Business
- Zawya
CBUAE revokes licence of Al Nahdi Exchange
Abu Dhabi: The Central Bank of the UAE (CBUAE) has revoked the licence of Al Nahdi Exchange, an Exchange House operating in the UAE, and struck its name off the Register, pursuant to Article (137) of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organization of Financial Institutions and Activities, and its amendments. The licence revocation was imposed based on the results of the findings of examinations conducted by the CBUAE, which revealed that the Exchange House had significant failures to comply with the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and Sanctions framework. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff comply with the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the exchange houses industry and safeguard the UAE financial ecosystem.
Khaleej Times
20 hours ago
- Business
- Khaleej Times
UAE Central Bank revokes licence of Al Nahdi Exchange
The Central Bank of the UAE (CBUAE) has revoked the licence of Al Nahdi Exchange, an Exchange House operating in the UAE, and struck its name off the Register, 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. The licence revocation was based on the CBUAE's examination findings, which revealed significant failures by the Exchange House to comply with the Anti-Money Laundering, Combating the Financing of Terrorism and Illegal Organisations, and Sanctions framework. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff comply with the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the exchange houses industry and safeguard the UAE financial ecosystem.
South Wales Argus
2 days ago
- Business
- South Wales Argus
Parish Hall in Cwm, Ebbw Vale, up for auction for £40,000
This property is being sold via secure sale online bidding, with terms and conditions applying. The building, dating back to around 1900, is situated in School Terrace and has been partially converted into a residential property by its current owner. However, considerable work is still needed to complete the conversion. (Image: Pattinson - Commercial via Zoopla) The property holds potential for conversion back to a commercial building, subject to the necessary permissions, or to be fully converted into a residential property, again subject to consents. The building measures over 300 square metres and has a solid base, offering ample space for potential development. However, the mains gas and electric have currently been shut off to the building, indicating some of the work needed to make the property habitable. Immediate 'exchange of contracts' is available for this property, which is being sold via 'Secure Sale', a process that ensures the property is legally prepared for purchase. (Image: Pattinson - Commercial via Zoopla) This allows any interested buyer to secure the property immediately once their bid or offer has been accepted. This transparent process provides speed, security, and certainty for all parties involved. Pattinson Auction, in partnership with the marketing agent, is overseeing this online auction sale. The property is being sold either under conditional (Modern) or unconditional (Traditional) auction terms. Viewings of the property are strictly by appointment only and can be arranged via the marketing agent or the auctioneer. Potential buyers should be aware that any enquiry, bid, or viewing of the property will require their details to be shared between both the marketing agent and the auctioneer to ensure that all matters can be dealt with effectively. The property is sold via a transparent online auction. To submit a bid, all bidders and buyers will need to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. A Legal Pack associated with this property is available to view upon request. The pack contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. It is strongly advised that potential buyers seek the counsel of a solicitor before proceeding with any property or land title purchase. Successful bidders will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price upon exchange of contracts.
Hindustan Times
3 days ago
- Hindustan Times
ED gets 5-day custody of Chhangur Baba
A special court here on Monday granted a five-day police custody remand (PCR) of Jalaluddin alias Chhangur Baba, arrested for alleged illegal religious conversions, to Enforcement Directorate (ED) for the former's interrogation regarding the assets acquired by him using the proceeds of crime, confirmed prosecution officials. Chhangur Baba (File) Chhangur Baba is accused of masterminding a large-scale religious conversion racket from Balrampur. The officials said ED took him into their custody soon after. They said the special court for Prevention of Money Laundering Act (PMLA) cases granted Chhangur Baba's PCR to ED from 5 pm on Monday to 5 pm on August 1. They said the ED had sought the suspect's PCR for seven days, alleging that he and his associates had acquired several properties using the proceeds of crime. The ED has claimed that Chhangur Baba and his associates received suspicious funds from foreign countries and utilised them for unlawful religious conversions. As per a prosecution official, ED prayed to the court for Chhangur Baba's PCR, stating that the conditions under Section 19 of the PMLA, 2002, were met in the case. During the investigation, Anti Money Laundering (AML) cells of concerned banks provided statements of bank accounts mentioned in the FIR, he said, quoting ED officials. He said the PCR was filed by ED assistant director Yogesh through special public prosecutor Kuldeep Srivastava. The ED officials informed the court that Chhangur Baba and his associates had acquired immovable properties worth crores of rupees, including a land worth ₹16 crore in Pune, Maharashtra. ED also found that Sangeeta Upadhyay, the wife of a clerk at the CJM's court in Balrampur, had a profit-sharing agreement with Chhangur Baba in this land. On July 17, ED had searched, under Section 17 of the Prevention of Money Laundering Act (PMLA), 15 premises related to Chhangur Baba and his associates.
Zawya
24-07-2025
- Business
- Zawya
BIBF launches e-learning course on anti-money laundering for the Saudi insurance sector
Manama – The Bahrain Institute of Banking and Finance (BIBF), the region's leading training and development provider, has announced the launch of a fully online, self-paced course on Anti-Money Laundering (AML), designed specifically for professionals within the insurance sector in the Kingdom of Saudi Arabia. This comes as part of the institute's ongoing commitment to support the regional insurance industry and provide accessible digital training solutions, This initiative reflects the Institute's strategic focus on empowering professionals in highly regulated sectors with relevant and practical learning opportunities. The course has been developed to support insurance professionals seeking to remain compliant and informed, while navigating an evolving risk and regulatory landscape. Designed for individuals working in compliance, risk, operations, internal audit, and related roles, the course provides comprehensive AML awareness within the insurance context. It covers key concepts, industry best practices, and regulatory expectations, with a focus on practical application. Delivered entirely online, the course offers self-paced flexibility, allowing participants to learn at their convenience. The interactive learning experience includes real-world case studies, knowledge checks, and content customised to reflect the regulatory frameworks and compliance priorities of the Saudi market. Commenting on the launch, Ms. Manal Mashkoor, Head of the Insurance Centre at the BIBF, stated: 'At the BIBF, we are committed to delivering accessible, market-relevant digital training solutions that support the development of insurance professionals across the region. This self-paced e-learning course has been carefully tailored to meet the specific compliance needs of the Saudi insurance market, while promoting a strong culture of AML awareness, transparency, and accountability.' Ms. Mashkoor also confirmed that future versions of the programme are planned for other GCC markets, ensuring broader regional relevance and further reinforcing BIBF's leadership in digital insurance training across the region. With over four decades of experience in delivering industry-focused education, the BIBF continues to expand its e-learning offerings to meet the professional development needs of the financial services sector and beyond. About the BIBF The Bahrain Institute of Banking and Finance (BIBF) is the leading provider of education and training in the region, established in 1981 under the Central Bank of Bahrain. With a commitment to enhancing human capital, the BIBF serves not only Bahrain but also extends its reach to 64 countries worldwide, solidifying its global presence. The BIBF is dedicated to delivering excellence across a broad spectrum of business disciplines. It partners with numerous international institutions to offer thought leadership, assessment, and training in key areas, including: Banking and Finance Islamic Banking Executive Education Accounting and Finance Academic Studies Leadership and Management Insurance Digital Transformation and Project Management For more information, please contact the Marketing and Corporate Communications Department at: Email: media@ Website:
