CBUAE imposes a financial sanction of AED 1.2 million on an insurance company operating in the UAE

The Central Bank of the UAE (CBUAE) imposed a financial sanction on an insurance company operating in the UAE, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations.The financial san