Latest news with #LicenceRevocation
Zawya
a day ago
- Business
- Zawya
Saudi CMA cancels licence of Edraj Capital
Saudi Arabia's Capital Market Authority (CMA) has rescinded the licence of financial services firm Edraj Capital. The market authority found that the company no longer meets the 'fit and proper' requirements to provide authorised activities, including arranging and advising on securities. The action was taken to protect the integrity of the market and investors' interest. 'The company did not fulfil the 'fit and proper' requirements to carry out the securities business for which the company was licensed,' the authority said. 'The integrity of the market and the protection of investors necessitate this action.' (Writing by Cleofe Maceda; editing by Seban Scaria
Zawya
31-07-2025
- Business
- Zawya
CBUAE revokes licence of Gomti Exchange
Abu Dhabi: The Central Bank of the UAE (CBUAE) has revoked the licence of Gomti 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 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.
Zawya
30-07-2025
- 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
30-07-2025
- 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.
