Latest News

We understand the importance of availability, and we act on it.

Apex Bank Imposes Fines!


Time for Financial Institutions to pull up their socks as Central Bank imposes fines for violating UAE Rules and Regulations

Central Bank of the UAE (CBUAE), on 14 June 2022 imposed administrative and financial sanctions on a finance company operating in the UAE for not adhering to the rules and regulations of the regulator.

The Apex Bank imposed fines for failure to submit audited financial statements by the deadline, and failure to abide by its guidance. Moreover,companies failed to comply with the Consumer Protection Regulations and Complainant Management System rulebook and the Central Bank instructed the company to remedy its shortcomings within a month of the notification.

Previously, the regulator had fined financial companies for not adhering to anti-money laundering and combating the financing of terrorism and illegal organisations.

Central Bank of the UAE (CBUAE) through its supervisory and regulatory mandates, works to ensure that all licensed financial institutions abide by the UAE Regulations, in the interest of transparency and integrity of financial companies.

You might also like...
OTP links with Fake government logo – new scam in the market!
Residents warned about fake messages with the government logo.
read More
Electronic Attestation of Invoices of Imported Goods
The MOFAIC has launched smart registration forms for companies and individuals in line with its sustained commitment to enhancing the services for the private sector, public relation companies and other institutions.
read More
Dissolving Dubai World Financial Disputes Tribunal and Cases Referral to Dubai Courts
Decree No. (20) of 2022 was issued dissolving the "Tribunal to Decide the Disputes Related to the Settlement of the Financial Position of Dubai World and its Subsidiaries".
read More
Thanks, got it!
Something went wrong, please try again.

Use our online calendar to set up your own appointment and connect to an elawyer for a consultation.