UAE Central Bank cancels licence of First Insurance Brokers Company

File Picture

The Central Bank of the UAE (CBUAE) has struck First Insurance Brokers Company off the Register for failure to comply with its regulatory obligations.

Investigations revealed that the insurance company had a weak compliance framework.

The CBUAE works to ensure that all insurance companies and professionals abide by the laws, regulations and standards in order to safeguard the transparency and integrity of the insurance industry and the UAE’s financial system.

More from Local

Coming Up on Dubai Eye

  • The Agenda

    10:00am - 1:00pm

    Broadcasting every weekday, Georgia Tolley goes beyond the headlines to speak to government ministers, decision makers, analysts and local experts to find out how the news will impact those of us living in the UAE.

  • Entertainment Extra

    1:00pm - 2:00pm

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Flying Taxis

    It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.

  • Tough penalties for deliberate tax evasion

    The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.