The Central Bank of the UAE (CBUAE) has revoked the licence and registration of Smart and Secure Insurance Agent (Smart and Secure), a company operating in the country.
It said it had imposed the sanction due to the agent's weak compliance framework and failure to meet regulatory obligations.
The CBUAE, through its supervisory and regulatory mandates, works to ensure that all companies and professionals abide by the UAE laws, regulations and standards to safeguard the transparency and integrity of the insurance industry and the UAE’s financial system.
Central Bank of the UAE revokes licence and registration of 'Smart and Secure Insurance Agent' due to its weak compliance framework and failure to meet regulatory obligations #WamNews https://t.co/9pvuLFZQay pic.twitter.com/4mbjlwrZ6S
— WAM English (@WAMNEWS_ENG) February 6, 2024
Abu Dhabi Airports posts strong passenger, cargo growth
New deal with Microsoft values OpenAI at $500 billion
Apple races past $4 trillion market value
Amazon targets as many as 30,000 corporate job cuts, sources say
US flight delays near 7,000 as government shutdown hits Day 27
