Central Bank revokes Dirham Exchange licence and RMB Commercial Brokers registration
The Central Bank of the UAE (CBUAE) has revoked the money exchange licence of Dirham Exchange and cancelled the registration of RMB Commercial Brokers Co. Both entities are now prohibited from conducting regulated financial activities in the UAE. Customers holding funds or outstanding transactions with either firm should contact CBUAE immediately for guidance on asset recovery and dispute resolution.
The analysis — automated & source-checked
- Applies to
- Financial services · UAE
- What to do
- If you hold funds or have outstanding transactions with Dirham Exchange or RMB Commercial Brokers Co, contact CBUAE's customer protection unit immediately. Do not conduct further business with either entity.
Source
“The Central Bank of the UAE (CBUAE) has revoked the money exchange licence of Dirham Exchange and cancelled the registration of RMB Commercial Brokers Co. Both entities are now prohibited from conducting regulated financial activities in the UAE.”
— Central Bank of UAE, 1 Jan 2023
Source: Central Bank of UAE — official 1 Jan 2023 Read the original ↗ More from Central Bank of UAE →
Quick answers
What do I need to do?
If you hold funds or have outstanding transactions with Dirham Exchange or RMB Commercial Brokers Co, contact CBUAE's customer protection unit immediately. Do not conduct further business with either entity.
Who issued this?
Central Bank of UAE (UAE).
When was it announced?
1 Jan 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-dirham-exchange-and-the-registration-rmb-commercial-brokers-co/
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