{"id":48046,"date":"2022-07-27T11:36:39","date_gmt":"2022-07-27T07:36:39","guid":{"rendered":"https:\/\/www.uaebarq.ae\/en\/?p=48046"},"modified":"2022-07-27T11:36:41","modified_gmt":"2022-07-27T07:36:41","slug":"cbuae-imposes-financial-sanction-on-an-exchange-house-operating-in-the-uae-2","status":"publish","type":"post","link":"https:\/\/www.uaebarq.ae\/en\/2022\/07\/27\/cbuae-imposes-financial-sanction-on-an-exchange-house-operating-in-the-uae-2\/","title":{"rendered":"CBUAE imposes financial sanction on an exchange house operating in the UAE"},"content":{"rendered":"\n<p>The Central Bank of the UAE (CBUAE) imposed a financial sanction on\nan exchange house operating in the UAE, pursuant to Article <\/p>\n\n\n\n<p>&nbsp;14 of the Federal Decree Law No. (20) of 2018 on Anti-Money\nLaundering and Combating the Financing of Terrorism and Financing of Illegal\nOrganisations, and article 137 of the Decretal Federal Law No. (14) of 2018\nRegarding the Central Bank &amp; Organisation of Financial Institutions and\nActivities.<\/p>\n\n\n\n<p>The financial sanction comes as a result of the examination\nfindings conducted by the CBUAE and revealed that the exchange house had a weak\ncompliance framework regarding the required due diligence policies and\nprocedures to prevent money laundering and financing of terrorism. Accordingly,\nthe CBUAE imposed a fine of AED 5,220,858 on the exchange house. <\/p>\n\n\n\n<p>The CBUAE, through\nits supervisory and regulatory mandates, works\nto ensure that all exchange houses, their owners and staff abide by the UAE\nlaws, regulations and standards adopted by the CBUAE to safeguard the\ntransparency and integrity of the exchange houses\u2019 business and the UAE\nfinancial system. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of the UAE (CBUAE) imposed a financial sanction on an exchange house operating in the UAE, pursuant to Article &nbsp;14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations, and article 137 of the Decretal Federal Law No. &hellip;<\/p>\n","protected":false},"author":2,"featured_media":46949,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-48046","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news"],"_links":{"self":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/48046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=48046"}],"version-history":[{"count":1,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/48046\/revisions"}],"predecessor-version":[{"id":48047,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/48046\/revisions\/48047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/46949"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=48046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=48046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=48046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}