Dubai Eye 103.8

On Air Now
The Business Breakfast
6:00am - 10:00am

Listen To Dubai Eye

CBUAE revokes exchange house licence, issues hefty fine

Tuesday, 23 December 2025 15:42

By ARN News Staff

WAM

The Central Bank of the UAE (CBUAE) has revoked the licence of 'Omda Exchange' and removed its name from the official register.

The regulator also imposed a penalty of AED 10 million after investigations revealed violations of financial laws and regulations.

The CBUAE says these measures are part of efforts to ensure exchange houses comply with UAE laws and maintain transparency and integrity in financial transactions.

The #CentralBankUAE has revoked the licence of “Omda Exchange” operating in the UAE, struck its name off the Register and imposed a financial sanction of AED10 million, pursuant to the Decretal Federal Regarding the Central Bank and Organization of Financial Institutions and…
— Central Bank of the UAE (@centralbankuae) December 23, 2025

More from Local

Abu Dhabi Police reports five cases of suffocation due to indoor heating

Abu Dhabi Police has reported five cases of suffocation in the UAE due to the use of charcoal and firewood for heating inside homes.
UAE expresses solidarity with Tanzania over helicopter crash victims

The UAE has expressed its solidarity with Tanzania following the crash of a helicopter during a civil defense rescue mission that killed at least five people.
Abu Dhabi eases restrictions on pets in hotels, restaurants

Abu Dhabi's Department of Municipalities and Transport (DMT) has announced new rules allowing hotels and restaurants holding tourism licenses to welcome guests with their pets, like cats and dogs.
Sharjah imams and muezzins granted government employee status

His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has directed that all imams and muezzins in mosques across the emirate be placed under the Sharjah government’s general staff system.
Dynamic message signs cut travel times by 20% on Dubai roads

Dubai’s Roads and Transport Authority (RTA) says its Dynamic Message Signs system has become a key tool in making travel across the emirate safer and more efficient.

Coming Up on Dubai Eye

Starting up with Virtuzone
10:00am - 11:00am

Starting Up is back, with a fresh new edition in a brand-new timeslot every Tuesday from 10am-11am.
The Agenda
11:00am - 1:00pm

Broadcasting every weekday, Georgia Tolley goes beyond the headlines to speak to government ministers, decision makers, analysts and local experts to find out how the news will impact those of us living in the UAE.

BUSINESS BREAKFAST LATEST

UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the USA
UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
New iPhone Launch - Too Soon For Apple?
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Working From Home or Hardly Working?
Does working from home kill productivity or can it benefit staff by giving them more flexibility and a better work/life balance?

On Dubai Eye

Is There Sufficient House Supply In UAE
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?
Noon's First Female Delivery Driver
Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!