The Central Bank of the UAE (CBUAE) has revoked the licence of Malik Exchange, removed it from the Register, and imposed a financial sanction of AED 2 million for breaches of the UAE’s anti-money laundering and counter-terrorist financing requirements. The action was taken under Article 14 of Federal Decree Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations (as amended), following CBUAE examinations that found violations and failures to comply with the AML/CFT framework and related regulations.
Central Bank of the UAE 2025-08-20
Central Bank of the UAE revokes Malik Exchange licence and imposes AED 2 million sanction for AML CFT compliance failures
The Central Bank of the UAE has revoked Malik Exchange's licence, removed it from the Register, and imposed a financial penalty of AED 2 million for breaches of anti-money laundering and counter-terrorist financing regulations. This enforcement action follows examinations revealing non-compliance with the UAE's AML/CFT framework under Article 14 of Federal Decree Law No. 20 of 2018.