UAE Central Bank cancels registration of Al Fazaa Insurance Agent

The UAE Central Bank on Thursday announced that it has cancelled the registration of Al Fazaa Insurance Agent from the insurance agents’ register, in accordance with the provisions regulating the insurance agents businesses in force.

“The CBUAE, through its supervisory and regulatory mandates, works to ensure that all insurance companies and professions related to insurance companies, comply with the UAE laws and regulations adopted by the CBUAE, to safeguard the transparency and integrity of the insurance industry and the UAE financial system,” the regulator said.

The announcement comes two days after CBUAE cancelled the registration of BH Insurance Brokerage LLC.