Exchange house fined AED 200 million for compliance failures

The Central Bank of the UAE has imposed a financial penalty of AED 200 million on an exchange house for serious violations of anti-money laundering and counter-terrorism financing regulations.

The sanction follows extensive examinations by the Central Bank, which uncovered major compliance failures within the exchange house’s operations.

In addition, a branch manager has been fined AED 500,000 and banned from holding any role in UAE-licensed financial institutions.

The Central Bank says these actions are part of its ongoing efforts to uphold transparency, enforce financial regulations and protect the integrity of the UAE’s financial system.

The #CentralBankUAE imposed a financial sanction of amount AED200 million on an exchange house, pursuant to Article (137) of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organization of Financial Institutions and Activities, and amendments thereto.…

— Central Bank of the UAE (@centralbankuae) May 20, 2025