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
UK's Jaguar Land Rover to cut 4,000 jobs over next two years
Salik renews tolling technology deal for five years
Volkswagen flags 50,000 job cuts across group
UAE tightens anti-fraud rules, sets 24-hour deadline to withdraw fake goods
Apple facing $2.7 billion UK lawsuit over 'unfair' app tracking rules
