UAE: Central Bank cancels licence of company for failure to comply with requirements

The name of the company has also been removed from the register, the authority added

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Central Bank of the UAE. Photo: File
Central Bank of the UAE. Photo: File

Published: Fri 12 Jan 2024, 12:05 PM

Last updated: Fri 12 Jan 2024, 10:42 PM

The Central Bank of the UAE has cancelled the licence of an insurance company for its failure to comply with necessary requirements.

The banking authority said that First Insurance Brokers Company, which operates in the UAE, had failed to comply with the requirements of the insurance brokerage system. The name of the company has also been removed from the register, the authority added.

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