Latest news with #CombatingtheFinancingofTerrorismandIllegalOrganisations
Gulf Today
2 days ago
- Business
- Gulf Today
Central Bank of UAE imposes financial sanction of Dhs100m on exchange house
The Central Bank of the UAE (CBUAE) imposed a financial sanction of Dhs100 million on an exchange house, 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 amendments thereto. The financial sanction is based on the results of the findings of examinations conducted by the CBUAE, which revealed significant failures in the exchange house's Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework, and related regulations. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system. WAM
Dubai Eye
3 days ago
- Business
- Dubai Eye
UAE exchange house fined AED100mn for regulatory breaches
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.
ARN News Center
3 days ago
- Business
- ARN News Center
UAE exchange house fined AED100mn for regulatory breaches
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.
Al Etihad
3 days ago
- Business
- Al Etihad
UAE Central Bank imposes financial sanction of Dh100 million on exchange house
29 May 2025 14:01 ABU DHABI (WAM) The Central Bank of the UAE (CBUAE) imposed a financial sanction of Dh100 million on an exchange house, 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 amendments financial sanction is based on the results of the findings of examinations conducted by the CBUAE, which revealed significant failures in the exchange house's Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework, and related regulations. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system.
Sharjah 24
20-05-2025
- Business
- Sharjah 24
CBUAE imposes AED200 million financial sanction on exchange house
Significant failures in compliance framework The financial penalty follows an investigation conducted by the CBUAE, which uncovered major deficiencies in the exchange house's Anti-Money Laundering (AML) and Combating the Financing of Terrorism and Illegal Organisations (CFT) framework. These findings highlight serious non-compliance with regulatory requirements. Additional penalty on branch manager In a related measure, the CBUAE imposed an AED500,000 financial penalty on a branch manager involved in the case. The individual has also been permanently banned from holding any position within any licensed financial institution in the UAE. CBUAE reaffirms commitment to financial integrity The CBUAE emphasized its ongoing commitment, through supervisory and regulatory mandates, to ensuring that all exchange houses, their owners, and employees comply with UAE laws and CBUAE regulations. These efforts aim to uphold transparency, protect the integrity of financial transactions, and safeguard the UAE's financial system.
