Central Bank revokes Muthoot Exchange licence — money exchange operators — effective immediately
The Central Bank of the UAE (CBUAE) has revoked the operating licence of Muthoot Exchange, a money exchange service provider. This action affects all customers, agents, and counterparties of Muthoot Exchange operating in the UAE. Affected parties should cease transactions immediately and contact CBUAE or seek alternative licensed money exchange providers for ongoing services.
The analysis — automated & source-checked
- Applies to
- Financial services · UAE
- What to do
- Cease all transactions with Muthoot Exchange immediately. Customers holding funds or pending transfers should contact CBUAE or seek alternative licensed money exchange providers. Verify any new provider's CBUAE licence status before proceeding.
Source
Source: Central Bank of UAE — official 22 Aug 2024 Read the original ↗ More from Central Bank of UAE →
Quick answers
What do I need to do?
Cease all transactions with Muthoot Exchange immediately. Customers holding funds or pending transfers should contact CBUAE or seek alternative licensed money exchange providers. Verify any new provider's CBUAE licence status before proceeding.
Who issued this?
Central Bank of UAE (UAE).
When was it announced?
22 Aug 2024.
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-muthoot-exchange/
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