UAE Central Bank cancels licence of First Insurance Brokers Company

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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.

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