Under the scheme that is being planned for formal launch with effect from Oct.1, envisages 1 per cent reward points on annual remittance of up to $10,000 equivalent, 1.25 per cent reward on up to $30,000 of annual remittance and 1.5 per cent reward points on above $30,000.
Six exchange houses operating in the UAE have been put under financial sanctions by the Central Bank of the UAE (CBUAE) for their failure to achieve appropriate levels of compliance.
The MEXC Global has recently achieved the title of ‘Best Crypto Exchange in Asia’ at the Crypto Expo Dubai held in Dubai. From the bear market in 2018, to the rapid rise in 2019,
The financial sanction comes as a result of the examination findings conducted by the CBUAE and revealed that the exchange house had a weak compliance framework regarding the required due diligence policies.
“The UAE has initiated investigations into Ghafoor’s activities in 2020 after receiving an official request to this effect from the US Embassy in Abu Dhabi on behalf of the US Department of Justice, US Federal Bureau of Investigation, Criminal Investigation Department, and the Internal Revenue Service,” the embassy said.
The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent. By doing so, it violated the CBUAE regulations and knowingly put the lives of its employees at risk.
The FIA action followed Hareem Shah's claim of smuggling thousands of British pounds abroad, while travelling from Jinnah International Airport Karachi to London without being checked anywhere at the Karachi airport. Her social media claim soon became viral.
AirCarbon Exchange (ACX), the global exchange revolutionizing the voluntary carbon market, signed a collaboration agreement with the Nairobi International Finance Centre (NIFC)