The Central Bank of the UAE (CBUAE) has revoked the licence of Omda Exchange operating in the UAE, struck the firm off the Register, and imposed a financial sanction of 10 million under the Decretal Federal law regarding the Central Bank and the organisation of financial institutions and activities, as amended. The measures follow CBUAE examinations that identified failures and violations of the Central Bank Law and related regulations by the exchange house. The central bank reiterated that its supervisory and regulatory role requires exchange houses, their owners and staff to comply with UAE laws, regulations and CBUAE standards aimed at maintaining transparency and integrity in financial transactions and safeguarding the UAE financial system.
Central Bank of the UAE 2025-12-23
Central Bank of the UAE revokes Omda Exchange licence and imposes 10 million financial sanction
The Central Bank of the UAE has revoked Omda Exchange's licence, removed it from the Register, and imposed a 10 million AED fine for violations of the Central Bank Law and related regulations. This enforcement action follows examinations revealing compliance failures. The CBUAE emphasized the importance of adherence to UAE laws and standards to ensure transparency and integrity in financial transactions.