Latest news with #financialsanction
Arabian Business
3 days ago
- Business
- Arabian Business
UAE fines exchange house $953,000 over rule violations
The Central Bank of the UAE imposed a financial sanction on an exchange house, 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 sanction of AED3.5m ($953,000) has been imposed after assessing the findings of an examination conducted by the Central Bank, which revealed that the exchange house failed to comply with AML/CFT policies and procedures. Central Bank of the UAE imposes exchange house sanction The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the nation's laws, regulations and standards established by the Central Bank to maintain transparency and integrity of the financial transactions and safeguard the United Arab Emirates financial system.
Khaleej Times
4 days ago
- Business
- Khaleej Times
UAE imposes Dh3.5-million fine against exchange house
The UAE has imposed a penalty of Dh3.5 million on an exchange house, the Central Bank of the UAE (CBUAE) announced on Monday. The financial sanction was imposed 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 sanction comes after an investigation revealed that the exchange house failed to comply with AML/CFT policies and procedures. The CBUAE, through its supervisory and regulatory mandates, aims 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 of the financial transactions.
Emirates 24/7
4 days ago
- Business
- Emirates 24/7
CBUAE Imposes a Financial Sanction on an Exchange House
The Central Bank of the UAE (CBUAE) imposed a financial sanction on an exchange house, 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 sanction of 3,500,000 has been imposed after assessing the findings of an examination conducted by the CBUAE, which revealed that the exchange house failed to comply with AML/CFT policies and procedures. 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. Follow Emirates 24|7 on Google News.
Zawya
29-05-2025
- Business
- Zawya
CBUAE imposes a financial sanction of 100mln on an exchange house
Abu Dhabi: The Central Bank of the UAE (CBUAE) imposed a financial sanction of amount 100 million on an exchange house, 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 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 Organizations 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.
