The UAE’s Central Bank (CBUAE) has imposed financial sanctions on exchanges operating in the UAE. Overview of Illegal Organizations, and Article 137 of Federal Law No. 14 of 2018 on Central Banks and Financial Institutions and Organizations of Activities.
Financial sanctions are the result of a study conducted by CBUAE, revealing a weak exchange compliance framework with respect to due diligence policies and procedures needed to prevent money laundering and terrorist financing. rice field. Therefore, CBUAE fined the exchange AED 5,220,858.
CBUAE is a UAE law, regulation adopted by CBUAE to protect the transparency and completeness of the exchange’s business and UAE by all exchanges, their owners and staff through supervisory and regulatory obligations. , And strive to comply with the standards. Financial system.
http://www.eyeofriyadh.com/news/details/cbuae-imposes-financial-sanction-on-exchange-house-operating-in-country CBUAE imposes economic sanctions on domestically operated exchange houses