The night market is located near major hotels in Deira, and visitors can also enjoy free entertainment from different Filipino singers and comedians
uae18 hours ago
The Central Bank of the UAE (CBUAE) on Tuesday lifted administrative measures imposed on a bank operating within the UAE. These measures were initially enacted in response to the bank's non-compliance with the CBUAE's directives regarding the appointment of a consultant to address and rectify its Compliance Framework.
On August 4, 2021, CBUAE initiated administrative actions against the bank under Article 14 of Federal Decree Law No. (20) of 2018, pertaining to Anti Money Laundering and Combating the Financing of Terrorism and Illegal Organizations (AML/CFT). This action was consistent with relevant articles and decisions issued by the Cabinet and the CBUAE's Board of Directors concerning AML/CFT.
The CBUAE has actively collaborated with the bank throughout the remediation process, working together to ensure compliance. The Central Bank maintains a strong commitment to overseeing and regulating licensed financial institutions in the UAE to ensure they meet AML/CFT standards. These institutions have been given adequate time to address any deficiencies in their AML compliance. In cases of persistent non-compliance, the CBUAE retains the authority to impose further administrative and financial sanctions.
Through its regulatory and supervisory role in the financial sector, the CBUAE will continue to closely engage with all licensed financial institutions to guarantee their adherence to UAE laws and regulations, as well as the standards set forth by the CBUAE. This commitment is essential for preserving the integrity of the banking system and reinforcing financial stability in the region.
ALSO READ:
The night market is located near major hotels in Deira, and visitors can also enjoy free entertainment from different Filipino singers and comedians
uae18 hours ago
Zvi Kogan was reported missing by his family since Thursday, November 21
uae20 hours ago
The emirate has promised an exciting lineup of festivities and entertainment for residents and visitors to mark Eid Al Etihad
uae20 hours ago
Increasing birth rates, water security and food safety are among topics that will be discussed
uae21 hours ago
This initiative contributes to enhancing the values of unity and solidarity among members of society, creating a more cohesive and stable community
uae22 hours ago
Rabies virus causes acute encephalitis in all warm-blooded hosts, and the outcome of infection is nearly always fatal
uae22 hours ago
Abu Dhabi authorities urged the public not to publish any recordings captured by surveillance systems on social media platforms
uae23 hours ago
Event will feature field scenarios that highlight the advanced combat capabilities of the Armed Forces
uae1 day ago