The Central Bank of the UAE (CBUAE) has taken action against five insurance brokers for failing to meet anti-money laundering and counter-terrorism financing requirements.
Two of the brokers were hit with financial penalties, while the other three received official warnings.
CBUAE says the move is part of its ongoing efforts to enforce compliance and protect the integrity of the UAE's insurance sector and financial system.
These sanctions were issued under federal laws aimed at combatting money laundering and the financing of terrorism and illegal organisations.
The names of the entities involved have not been disclosed by the Central Bank.
UAE President urges youth to drive innovation while honouring national values
H.H. Sheikh Mohammed: Eid Al Etihad reinforces UAE’s values, enduring legacy
UAE to sing national anthem together on December 2
Ajman earns Guinness record for 603-vehicle Eid Al Etihad message
UAE launches urgent response to Sri Lanka's floods, landslides
UAE President marks Eid Al Etihad by naming seven mosques after each Emirate
