The unseen photo was taken during their visit to India to promote their 2017 action movie 'xXx: Return of Xander Cage'
The Central Bank of the UAE (CBUAE) has imposed a financial sanction on an exchange house operating in the UAE, pursuant to the Decretal Federal Law no.14 of 2018 regarding the Central Bank and Organisation of Financial Institutions and Activities, as amended by Decretal Federal Law no. 25 of 2020.
The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent. By doing so, they violated the CBUAE regulations and knowingly put the lives of their employees at risk.
On June 27, 2021, the CBUAE imposed a fine of Dh600,000 on the exchange house for violating obligations to use a Cash-in-Transit Agent when transporting cash, and to report any occurrence material or crucial development to the CBUAE immediately.
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The Exchange House appealed the sanction within the time limit applicable for appeal. On November 28, 2021, that appeal was rejected and the Central Bank’s procedures have been concluded.
The CBUAE, through its supervisory and regulatory mandates, works to ensure that all licensed financial institutions operating in the UAE, including exchange houses, abide by UAE laws, regulations and standards adopted by the CBUAE, to safeguard the transparency and integrity of the exchange houses business and enhancing the efficiency of the UAE financial system.
The unseen photo was taken during their visit to India to promote their 2017 action movie 'xXx: Return of Xander Cage'
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