Search DubaiPRNetwork.com

Home >> Banking & Investments

Central Bank of the UAE

Monday, June 11, 2018/ Editor -  

Share

Home >> Banking & Investments

Dubai, United Arab Emirates, June 11, 2018:  Central Bank of the UAE announced that it has decided to downgrade the license of the following exchange houses to deal in sale and purchase of foreign currencies and travelers cheques only: 

1.    Taher Exchange Est.
2.    Al Hadha Exchange LLC
3.    Al Hemriya Exchange Company LPC
4.    Dubai Express Exchange
5.    Sanaa Exchange
6.    Cosmos Exchange
7.    Bin Bakheet Exchange Est.

As the above exchange houses violated Central Bank’s regulations, including Anti-Money Laundering regulations.

Based on this decision, the above exchange houses were prohibited from conducting any activities relating to remittances or payment of wages. This decision comes after the failure of these exchange houses to regularize their status during the grace period granted by the Central Bank .

The Central Bank confirms that it will not tolerate violations of financial institutions to its regulations and instructions, and the Central Bank alerts not to remit funds or pay of wages via the above exchange houses.

 


Previous in Banking & Investments

Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

The 22nd edition of Indian Property Show to take place in Dubai from 21-23 June ...

Sharjah's Economic Realities Focal Point of Statistics and Community Development ...

Shop and earn Skywards Miles at The Dubai Mall

Beautiful Freaks

Alfahim Announces New Three-year Partnership With UAE Triathlon Federation

Infinix Partners With Google to Launch New Mobile Innovation in the Middle East ...

The Rado True Open Heart Automatic

KHDA accredited Parent Education Courses equip parents with positive parenting t ...

GUESS Trend Alert | The Summer Blues

Dubai Cares launches ‘WASH UP! Girl Talk' program in Zimbabwe to promote healthy ...

TAG Heuer back at the 24 Hours of Le Mans

CBUAE Announces New Caps on Banking Fees for Customers

UAE Team Emirates Blend Youth and Experience as They Announce Line-up for Italia ...

Ericsson and MTS to deliver superior mobile broadband experiences for football f ...

Samsung Introduces Sunrise Gold and Coral Blue Editions for the Galaxy S9 and S9 ...

Hyperloop Transportation Technologies Signs Agreement for Commercial System in U ...

Commitment and Protection – the increasing importance of DIFC Wills amid economi ...

RAYMOND WEIL Freelancer ACDC Limited Edition

Eberhard & Co. Scafograf Black Sheep

Saint Honore Allure Lady-Charming colour