UAE Central Bank fines exchange house Dh10.7 million

The exchange house failed to comply with the AML/CFT policies

Last updated: August 01, 2025 | 12:06

1 MIN READ

UAE Central Bank fines exchange house Dh10.7 million

WAM

Abu Dhabi: The Central Bank of the UAE (CBUAE) imposed a financial sanction of Dh10.7 million 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.

Also Read: UAE Central Bank revokes licence of Gomti Exchange

The financial sanction has been imposed after assessing the findings of an examination conducted by the CBUAE, which revealed that the exchange house failed to comply with the AML/CFT policies and procedures and sanctions obligation.

Also Read: UAE Central Bank revokes Al Nahdi Exchange licence for money laundering

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 exchange houses industry and safeguard the UAE financial ecosystem.

Anupam VarmaOnline Editor

Anupam is a digital and business journalist with nearly two decades of experience. Having worked with newspapers, magazines and websites, he is driven by the thrill of breaking news and page views. Anupam believes all problems can be solved if you just give them enough time and attention. He’s also someone who would rather try and fail, than not try at all.

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