The Central Bank of the UAE (CBUAE) has revoked the license of Al Nahdi Exchange and removed its name from the Register, in accordance with Article (137) of Decretal Federal Law No. (14) of 2018 Regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments.

The decision follows examinations conducted by the CBUAE, which identified major breaches in the Exchange House’s compliance with the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and Sanctions framework.

The CBUAE continues to carry out its supervisory and regulatory responsibilities to ensure that all exchange houses, their proprietors, and staff adhere to UAE laws, regulations, and the standards set by the Central Bank, in order to uphold the integrity and stability of the country’s financial sector.

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