From the type of visa being issued to its validity – here are some tips to help you avoid getting scammed
life and living1 week ago
The Central Bank of the UAE (CBUAE) on Friday imposed a fine of Dh5.8 million a bank for violating rules on anti-money laundering and combating the financing of terrorism (AML/CFT)and financing of illegal organisations.
The regulator said that financial sanctions were imposed after an examination found that the bank had deficiencies in its AML/CFT policies and procedures. The Central Bank said the financial sanctions were imposed under Article 14 of the Federal Decree Law No. (20) of 2018 on AML/CFT.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
The Central Bank didn’t disclose the name of the bank.
The CBUAE, through its supervisory and regulatory mandates, works to ensure that all Banks, their owners and staff abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the banking sector and the UAE financial system.
Last week, the Central Bank revoked the licence of Galaxy Insurance Broker (Galaxy) for a weaker compliance framework. The administrative sanction was a result of the findings of an examination conducted by the Central Bank, which revealed that Galaxy had a weak compliance framework and failed to comply with its regulatory obligations.
ALSO READ:
From the type of visa being issued to its validity – here are some tips to help you avoid getting scammed
life and living1 week ago
These American-curriculum schools are free of cost, and are neither public nor private
life and living1 week ago
Trained staff always accompanies the young passengers and guides them through immigration, baggage claims and customs
life and living1 week ago
Men working in the federal government and private sectors can use their paternity leave within six months of their child's birth
life and living2 weeks ago
Here's a list of the places you can go; entry is free to most of them
life and living2 weeks ago
For most residents in the country, receiving salary on time is not just a matter of convenience but a necessity for managing personal finances effectively
life and living2 weeks ago
In 2023, the Ministry of Health and Prevention announced the launch of a digital service for all residents to apply for a new birth certificate within a day
life and living2 weeks ago
Other than contribution towards the construction, individuals can also donate towards maintaining mosques and providing amenities in the premises
life and living2 weeks ago