UAE Central Bank revokes Al Nahdi Exchange licence for money laundering

Regulatory action taken after serious failures found in anti-money laundering compliance

Last updated: July 30, 2025 | 14:29

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CBUAE said the revocation was necessary to preserve the integrity and transparency of the UAE’s financial system.

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Dubai: The Central Bank of the UAE (CBUAE) has revoked the licence of Al Nahdi Exchange, effectively removing the company from the official Register of Exchange Houses operating in the country.

The move comes following an in-depth examination by the Central Bank, which uncovered major compliance breaches in anti-money laundering (AML) and counter-terrorism financing (CTF) frameworks, as well as violations related to international sanctions regulations.

The decision was made in accordance with Article (137) of the Decretal Federal Law No. (14) of 2018 concerning the Central Bank and the regulation of financial institutions in the UAE.

In a statement, the CBUAE said the revocation was necessary to preserve the integrity and transparency of the UAE’s financial system.

Also Read: CBUAE fines UAE-based exchange house Dh2 million for violating AML rules

“The CBUAE, through its supervisory and regulatory mandates, ensures that all exchange houses, their owners, and staff comply with UAE laws and the regulatory standards established by the Central Bank,” the statement said.

The Central Bank reaffirmed its commitment to strengthening the UAE’s financial stability and preventing the misuse of financial institutions for illicit activities, particularly through robust supervision of licensed entities.

Al Nahdi Exchange will no longer be permitted to operate in the UAE’s financial services sector. No further details were provided on whether any additional penalties or legal actions are under consideration.

Justin VargheseYour Money Editor

Justin is a personal finance author and seasoned business journalist with over a decade of experience. He makes it his mission to break down complex financial topics and make them clear, relatable, and relevant—helping everyday readers navigate today’s economy with confidence. Before returning to his Middle Eastern roots, where he was born and raised, Justin worked as a Business Correspondent at Reuters, reporting on equities and economic trends across both the Middle East and Asia-Pacific regions.