The Central Bank of the UAE has revoked the licence of Malik Exchange, removed it from the Register of exchange houses, and imposed a financial sanction of Dh2 million. The measures were taken under Article (14) of the Federal Decree Law No. 20 of 2018, concerning anti‑money laundering and financing of terrorism and illegal organisations.
This action follows the results of examinations by the Central Bank, which found that Malik Exchange failed to comply with the requirements of the UAE’s anti‑money laundering (AML) and counter‑terrorism financing (CFT) framework. The regulatory body stated that these steps reflect its mandate to ensure that exchange houses, their owners, and staff comply fully with the laws, regulations, and standards designed to preserve transparency and integrity across the UAE’s financial system.
