Central Bank revokes Al Rasheed Exchange House licence
The Central Bank of the UAE (CBUAE) has revoked the operating licence of Al Rasheed Exchange House, effective immediately. This affects all customers holding accounts, remittance orders, or funds with the exchange house. Customers must contact CBUAE or visit its website for guidance on fund recovery and alternative service providers.
The analysis — automated & source-checked
- Applies to
- Financial services · UAE
- What to do
- If you hold funds, accounts, or pending remittances with Al Rasheed Exchange House, contact CBUAE immediately for instructions on fund recovery and transition to an alternative licensed exchange house.
Source
“The Central Bank of the UAE (CBUAE) has revoked the operating licence of Al Rasheed Exchange House, effective immediately. This affects all customers holding accounts, remittance orders, or funds with the exchange house.”
— Central Bank of UAE, 27 Feb 2023
Source: Central Bank of UAE — official 27 Feb 2023 Read the original ↗ More from Central Bank of UAE →
Quick answers
What do I need to do?
If you hold funds, accounts, or pending remittances with Al Rasheed Exchange House, contact CBUAE immediately for instructions on fund recovery and transition to an alternative licensed exchange house.
Who issued this?
Central Bank of UAE (UAE).
When was it announced?
27 Feb 2023.
Where can I read the original?
Read the original at Central Bank of UAE: https://www.centralbank.ae/en/news-and-publications/news-and-insights/press-release/cbuae-revokes-the-licence-of-al-rasheed-exchange-house/
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