The central bank imposes a fine on a financing company
Abu Dhabi, August 6 / WAM / The United Arab Emirates Central Bank imposed a fine on one of the financing companies, which amounted to 600 thousand dirhams under Article 137 of the Decree of Federal Law No. 14 of 2018 regarding the Central Bank and the organization of facilities and financial activities and its amendments.
The financial fine comes based on the results of the inspections conducted by the central bank, which showed that there are violations related to the lack of compliance with the financing company of market behavior and consumer protection standards and standards.
The Central Bank works, through its supervisory and regulatory missions, to ensure the commitment of all financing companies and its employees to legislation in the state, and the regulations and standards adopted by it, with the aim of preserving the transparency and integrity of the financing sector, and protecting and stabilizing the state’s financial system.
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