Five insurance brokers sanctioned in UAE compliance drive

Monday, 12 May 2025 15:38

By ARN News Staff

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.

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News

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Starting the 2026–2027 academic year, the cut-off age for admissions to Kindergarten and Grade 1 will shift to December 31, from the previous date of August 31.
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Professor Majed Chergui has been honoured with the UAE's "Great Arab Minds" award in Natural Sciences for his pioneering contributions to capturing ultrafast motion at the atomic scale.
UAE issues yellow alert as dusty conditions reduce visibility
Motorists have been advised to exercise caution on the road after UAE weather bureau issued a yellow dust alert and warned of visibility dropping to less than 2,000 metres in some parts.

Five insurance brokers sanctioned in UAE compliance drive

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