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flag UAE central bank revokes Omda Exchange's license, fines it $2.7M for breaking financial rules.

flag The UAE’s Central Bank has revoked Omda Exchange’s licence, removed it from the official register, and fined it AED10 million for violating financial laws and regulations. flag The penalties follow CBUAE examinations that found non-compliance with the Central Bank Law and related rules. flag The move underscores the central bank’s commitment to enforcing financial regulations, ensuring transparency, and maintaining the integrity and stability of the UAE’s financial system.

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