by PREMA Team | Feb 21, 2024 | AML
The UAE is tipped to come off the Financial Action Task Force’s (FATF) “grey list” on February 23 after nearly two years, signifying the country’s impressive progress in addressing shortcomings in its anti-money laundering (AML) and counter-terrorist financing (CTF)...
by PREMA Team | Feb 9, 2024 | AML
The Central Bank of the UAE (CBUAE) has revoked the licence of Smart and Secure Insurance Agent (Smart and Secure), an insurance agent operating in the UAE, and struck its name off the Register, pursuant to Article 20 of the Resolution No. 08 of 2011 concerning the...
by PREMA Team | Jan 12, 2024 | AML
The UAE’s Central Bank (CBUAE) has cancelled the licence of First Insurance Brokers Company, an insurer operating in the UAE, and struck its name from the register for failing to comply with an Insurance Authority Board of Directors resolution. The bank said First...
by PREMA Team | Dec 22, 2023 | AML
Key points: The latest updates to the business ownership norms include:
New rules help identify companies’ real owners and prevent hiding ownership through complex structures.
Five steps are outlined to determine the actual beneficiary owner of a company.
Nominee...
by PREMA Team | Dec 14, 2023 | AML
Dubai: Weak compliance has led to the license of Cogent Insurance Broker being revoked by the UAE Central Bank. The latter had earlier conducted an assessment of the company’s operations, which found that apart from having a ‘weak’ compliance...
by PREMA Team | Nov 28, 2023 | AML
The Central Bank of the UAE (CBUAE) on Tuesday lifted administrative measures imposed on a bank operating within the UAE. These measures were initially enacted in response to the bank’s non-compliance with the CBUAE’s directives regarding the appointment...
Recent Comments