United Arab EmiratesThe Central Bank of the United Arab Emirates issued a press release underscoring the country’s exit from the enhanced monitoring process by the Financial Action Task Force.
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The Dubai Financial Services Authority published an enforceable undertaking against R.J. O’Brien (MENA) Capital Limited, known as RJO MENA, for failing to maintain records of electronic communications of transactions and poor compliance with client onboarding rules, among other violations.
The Dubai Financial Services Authority imposed a $373,842 monetary penalty on the United Arab Emirates-based bank for failure to identify and report market abuse and suspicious trades.
| Technical | Effectiveness |
|---|---|
| Compliant : 15 | High : 0 |
| Largely Compliant : 24 | Substantial : 1 |
| Partially Compliant : 1 | Moderate : 6 |
| Non-Compliant : 0 | Low : 4 |
The United Arab Emirates' technical compliance was re-rated in a July 5, 2023 follow-up report.
| Rank : 37/141 |
| Score : 5.89/10 |
| Rank : 21/180 |
| Score : 71/100 |
| Rank : 10/133 |
| Score : 78/100 |