{"id":55026,"date":"2023-08-10T10:03:10","date_gmt":"2023-08-10T06:03:10","guid":{"rendered":"https:\/\/www.uaebarq.ae\/en\/?p=55026"},"modified":"2023-08-10T10:03:12","modified_gmt":"2023-08-10T06:03:12","slug":"cbuae-imposes-a-financial-sanction-on-an-exchange-house-operating-in-the-uae","status":"publish","type":"post","link":"https:\/\/www.uaebarq.ae\/en\/2023\/08\/10\/cbuae-imposes-a-financial-sanction-on-an-exchange-house-operating-in-the-uae\/","title":{"rendered":"CBUAE imposes a 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\non an exchange house operating in the UAE, pursuant to Article\n14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and\nCombating the Financing of Terrorism\nand Financing of Illegal Organisations, 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, after it was decided in an\nappeal procedure, is the result of the\nfindings of an examination conducted by the\nCBUAE, revealing that the exchange had a weak compliance framework regarding the required risk analysis- and (enhanced) due diligence policies and procedures to prevent money laundering and the financing of\nterrorism. Accordingly, the CBUAE has imposed a fine of AED 4,800,000 on the\nexchange house.<\/p>\n\n\n\n<p>The CBUAE, through its supervisory and regulatory mandates, works to\nensure that all exchange houses, their owners and staff abide by the UAE laws,\nregulations and standards adopted by the CBUAE to safeguard the transparency\nand integrity of the exchange houses\u2019 business and the UAE financial 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 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":5,"featured_media":52864,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-55026","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\/55026","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\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=55026"}],"version-history":[{"count":1,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/55026\/revisions"}],"predecessor-version":[{"id":55027,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/55026\/revisions\/55027"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/52864"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=55026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=55026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=55026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}