The Central Bank took the poor compliance history of the exchange house into account when issuing the fine. The UAE Central Bank has imposed financial sanctions on an exchange company for violating anti-money laundering (AML) regulations. The regulatory fined the exchange house Dh504,000 for violating anti-money laundering and combating the financing of terrorism and illegal ...

Banks, Financial Institutions will have to incorporate principles of responsible financing. The UAE Central Bank has issued its first comprehensive financial consumer protection regulatory framework that defines the relationship between banks, financial firms and consumers. Abdulhamid M. Saeed Alahmadi, Governor of the Central Bank, said the financial sector in the UAE is growing and expanding ...

Abu Dhabi: The Central Bank of the UAE (CBUAE) has imposed financial sanctions on 11 Banks operating in the UAE. The action was in accordance with section 14 of the Federal Resolution Act no. (20) of 2018 on combating money laundering and combating the financing of terrorism and the financing of illegal organizations (AML / ...

CBUAE introduces the supervisory agenda of the bank’s Anti-Money Laundering Department   ABU DHABI – The Central Bank of the UAE (CBUAE) held the first Compliance Officers Forum to create a dialogue between the CBUAE and Chief Compliance Officers of all banks to discuss expectations from compliance function and banks’ risk management more generally. The forum, chaired by ...

The exercise affirms CBUAE’s preparedness to prevent or mitigate cyber threats that may cause disruptions to the UAE’s economy and financial stability. The Central Bank of the UAE (CBUAE) conducted the first-of-its-kind cyberattack simulation exercise that is designed to test the resilience of the UAE’s banking sector against any potential cyber threats. The exercise was conducted ...

The MENA region’s largest event focused on innovation in financial services, the FinTech Abu Dhabi Festival (FinTech AD), kicked off today and will run until November 26. Held under the patronage of H.H. Sheikh Hazza bin Zayed Al Nahyan, Vice President of the Abu Dhabi Executive Council, and co-hosted by the Central Bank of the ...