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The Central Bank of the UAE (CBUAE) has reaffirmed its dedication to ensuring that all licensed financial institutions within the country comply with established legal and regulatory frameworks. This commitment is central to upholding transparency and integrity across the UAE’s banking sector.
Through continuous regulatory oversight, the CBUAE aims to strengthen the stability and resilience of the financial system while preserving public confidence in licensed banks and financial entities.
Recent enforcement actions reflect this proactive approach:
A UAE exchange house was fined Dh2 million for breaching anti-money laundering regulations.
Five banks and two insurance companies were collectively fined Dh2.62 million for tax violations.
Sundus Exchange faced a Dh10 million penalty, with its licence cancelled due to serious non-compliance.
These measures underline the Central Bank’s resolve to promote a secure, transparent, and well-governed financial environment.
