The Central Bank of the UAE (CBUAE) has struck First Insurance Brokers Company off the Register for failure to comply with its regulatory obligations.
Investigations revealed that the insurance company had a weak compliance framework.
The CBUAE works to ensure that all insurance companies and professionals abide by the laws, regulations and standards in order to safeguard the transparency and integrity of the insurance industry and the UAE’s financial system.
UAE regulator fines bank AED 200 million over compliance failures
The Central Bank of the UAE (CBUAE) has imposed a financial penalty of AED 200 million on a branch of a foreign bank operating in the country for repeated failures in anti-money laundering controls, governance and compliance.
Dubai Police arrest 6 people in AED 2.6 million virtual assets scheme
Dubai Police have arrested a six-member ring that deceived a victim into paying AED 2.6 million through a fraudulent digital currency trading deal via an unlicensed exchange.
UAE court jails eight for life in arms trafficking, money laundering case
The Abu Dhabi Federal Court of Appeal has convicted several individuals involved in an illicit weapons trafficking and money laundering network linked to the supply of arms, ammunition and military equipment to the Sudanese Army.
Flydubai extends flight cancellation to some cities in Saudi Arabia
Flydubai has cancelled more flights to some cities in Saudi Arabia while continuing operations in other areas, including Jeddah.
RTA and Dubai Holding advance Palm Jumeirah traffic improvements
Dubai's Roads and Transport Authority (RTA), in partnership with Dubai Holding Community Management, is constructing two new pedestrian bridges on Palm Jumeirah as part of efforts to improve road safety and traffic flow.
2:00pm - 6:00pm
Brent Black has the biggest stories of the day and the stuff you might have missed.
6:00pm - 7:00pm
An extra hour of the UAE's biggest radio show for your drive home.
So Easy (To Fall In Love)
Olivia Dean
Closer
Neyo
Dai Dai
Shakira & Burna Boy