Latest news with #exchangehouses
Arabian Business
2 days ago
- Business
- Arabian Business
UAE central bank fines 6 exchange houses $3.3m
The Central Bank of the UAE imposed financial sanctions on six exchange houses, amounting to AED12.3m ($3.3m). The sanctions were pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The financial sanctions were imposed based on the findings of examinations conducted by the Central Bank, which revealed the violations and failures of the six exchange houses to comply with the AML/CFT framework, and related regulations. CBUAE financial sanctions The Central Bank, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by national laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the country's financial system.
Zawya
2 days ago
- Business
- Zawya
CBUAE imposes financial sanctions of $3.35mln on six exchange houses
The Central Bank of the UAE (CBUAE) imposed varying financial sanctions on six exchange houses in the UAE, amounting to AED12,300,000, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The financial sanctions were imposed based on the findings of examinations conducted by the CBUAE, which revealed the violations and failures of the six exchange houses to comply with the AML/CFT 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.
Zawya
2 days ago
- Business
- Zawya
CBUAE imposes financial sanctions of AED 12.3mln on six exchange houses
Abu Dhabi: The Central Bank of the UAE (CBUAE) imposed varying financial sanctions on six exchange houses in the UAE, amounting to 12,300,000, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The financial sanctions were imposed based on the findings of examinations conducted by the CBUAE, which revealed the violations and failures of the six exchange houses to comply with the AML/CFT framework, and related regulations. The CBUAE, through its supervisory and regulatory mandates, endeavors 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.
