UAE Central Bank revokes licence of insurance broker

Friday, 26 July 2024 15:16

By ARN News Staff

The Central Bank of the UAE (CBUAE) has revoked the licence of Galaxy Insurance Broker and struck the company's name off its official register.

This action follows a recent examination revealing that the firm had significant compliance issues and failed to meet regulatory standards.

CBUAE enforces these regulations to maintain transparency and integrity in the UAE’s insurance industry and financial system.

The #CentralBankUAE has revoked the licence of Galaxy Insurance Broker (Galaxy), an insurance broker operating in the UAE, and struck its name off the Register, pursuant to Article 22(2) of the Board of Directors Resolution No. 15 of 2013 Concerning Insurance Brokerage…
— Central Bank of the UAE (@centralbankuae) July 26, 2024

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Dubai’s Roads and Transport Authority (RTA) has announced plans to expand bus and taxi lanes as public transport ridership touched 802.1 million in 2025, marking a 7.4 per cent growth from 747.1 million riders in 2024.
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UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan held talks in Abu Dhabi on Saturday with His Highness Sheikh Tamim bin Hamad Al Thani, Emir of Qatar.
UAE, Egypt Foreign Ministers discuss Gaza peace plan
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UAE Central Bank revokes licence of insurance broker

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