UAE Central Bank revoked Muthoot Exchange license for failing to meet capital requirements.

The UAE Central Bank revoked the license of Indian remittance firm Muthoot Exchange, removing its name from the Register due to failure to meet paid-up capital and equity requirements. This action emphasizes UAE's commitment to enforcing compliance with its regulatory framework for financial system stability and integrity. Muthoot Exchange is no longer authorized to operate in the UAE.

August 22, 2024
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