The Central Bank of the UAE (CBUAE) has revoked the operating licence of Omda Exchange, removed the company from the official register, and imposed a financial penalty of AED10 million.
The action was taken in accordance with the Decretal Federal Law on the Central Bank and the Organisation of Financial Institutions and Activities, and its amendments. The decision followed supervisory examinations conducted by the CBUAE, which identified multiple failures and violations of Central Bank laws and related regulatory requirements by the exchange house.
Through its supervisory and regulatory responsibilities, the CBUAE continues to ensure that all exchange houses, their owners, and employees comply with UAE laws, regulations, and standards. These measures aim to uphold transparency and integrity in financial transactions and to protect the stability and security of the UAE’s financial system.
