Regulatory Alerts2018-03-01
The Standards for the Regulations Regarding Licensing and Monitoring of Exchange Business
The Central Bank of the UAE issued Version 1.20 of the Standards to establish baseline regulatory requirements for all Exchange Houses operating within the United Arab Emirates. The document mandates strict compliance across licensing, governance, risk management, anti-money laundering, and customer protection, while defining specific capital, bank guarantee, and ownership structures for Category A, B, and C licenses. It further outlines permitted business activities, including foreign exchange and remittances, and establishes a phased compliance timeline for existing entities to meet updated financial thresholds.
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