The strategy, formulated around 11 strategic goals, introduces legislative and regulatory reforms to combat money laundering and terrorism financing
Mozn is making waves in the global fintech landscape with its cutting-edge platform, FOCAL as the company showcases its latest innovations at the 24 Fintech event in Riyadh
The ministry of finance said its inspections of the refineries uncovered 256 violations, eight for each refinery
The grey-list exit will increase the international community’s confidence in the country’s financial services sector
An exit from the grey list marks a swift turnaround for the UAE, which was initially added to the list of jurisdictions under increased monitoring in March 2022
The penalty includes disgorgement of $975,000, reflecting the economic benefit Mirabaud gained from its violations in the form of fees and commissions
These guidelines follow CBUAE’s recently introduced AML/ CFT guidance for licensed financial institutions on risks related to payments
The new guidelines state that licensed financial institutions should have compliance programmes in place to mitigate payment-related risks
The guidance came into effect on Monday, September 13, with licensed financial institutions being given a month to demonstrate compliance
It has been set up within the Court of First Instance and Court of Appeal
He will succeed Bryan Stirewalt with effect from October 1, 2021
The fine was imposed because the individual had no authorisation to undertake a function that required prior approval from the Central Bank
The exchange house reportedly has a weak anti-money laundering and combating financing of terrorism compliance framework
The financial sanctions were imposed on January 24, 2021