Latest news with #UAEregulations
Khaleej Times
23-06-2025
- Business
- Khaleej Times
Up to Dh30,000 fine: UAE announces penalties for offences by public benefit institutions
In a recent Cabinet resolution, the UAE government has introduced a new framework for administrative penalties imposed on public benefit institutions. These measures aim to ensure compliance with Federal Decree-Law No. (50) of 2023, which regulates the operations of such entities. Under the new regulations, institutions can face fines ranging from Dh1,000 to a staggering Dh30,000 for various violations. These offences include failure to notify authorities of operational changes, unauthorised participation in events, and mismanagement of funds. Here is a list of offences and their corresponding penalties: Failure to notify changes within the institution First and second violations: Warning Third violation: Dh1,000 fine Fourth violation: Temporary closure for one month Unauthorized participation in events First violation: Warning Second violation: Dh1,000 fine Third violation: Dh2,000 fine Fourth violation: Temporary closure for one month Hosting individuals from within the country for events without approval First violation: Warning Second violation: Dh1,000 fine Third violation: Dh2,000 fine Hosting individuals from outside the country for events without approval First violation: Dh2,000 fine Second violation: Dh4,000 fine Third violation: Dh6,000 fine Fourth violation: Temporary closure for one month Participation in activities organized by associations or entities outside the country without approval First violation: Dh5,000 fine Second violation: Dh10,000 fine Third violation: Dh15,000 fine Affiliation or membership in any organization based outside the country without local approval and ministry authorization First violation: Dh10,000 fine Second violation: Dh20,000 fine Third violation: Dh30,000 fine Improper fund management First violation: Warning Second violation: Dh5,000 fine Third violation: Dh10,000 fine The resolution emphasises the importance of adhering to regulations and highlights the government's commitment to transparency and accountability within the sector. Institutions are urged to familiarize themselves with these new rules to avoid penalties and ensure their operations align with national standards.
Zawya
17-06-2025
- Business
- Zawya
CBUAE revokes licence of ‘Sundus Exchange', imposes fnancial sanction of $2.7mln
The Central Bank of the UAE (CBUAE) has revoked the licence of 'Sundus Exchange' operating in the UAE, struck its name off the licences register and imposed a financial sanction of AED10 million, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations and its amendments. The revocation and financial sanction were imposed based on the results of the findings of examinations conducted by the CBUAE, which revealed failures and violations of the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework, and related regulations. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system.
Khaleej Times
05-06-2025
- Politics
- Khaleej Times
New UAE media law: Who needs to comply; offences, fines, all you need to know
As of May 29, a new media law has come into effect in the UAE, ushering in a wide-ranging regulatory framework aimed at fostering responsible media practices, protecting public interest, and promoting social cohesion. The law introduces several detailed provisions that affect how media is produced and shared in the UAE. Here's a clear breakdown of what it covers and what it means for media outlets, influencers, and content creators: What the law aims to do The new law sets out clear media standards to: To whom the law applies The provisions apply to: The law also explicitly offers protection for media professionals, signalling the government's intention to support ethical journalism and influencer work that complies with licencing rules. Who needs to comply? Under the law, the following are clearly within scope: Licenced media outlets (TV, radio, digital, print) Content creators producing promotional or journalistic material within the UAE Influencers earning revenue through content or advertising Foreign correspondents working in the UAE or reporting on the UAE Entities in free zones Offences and fines The law lists a wide range of violations, with fines based on severity and recurrence. Some key examples include: Respect for religion and the state Disrespecting Islamic beliefs or other religions: up to Dh1 million Insulting state symbols or leadership: up to Dh500,000 Undermining national unity or foreign relations: up to Dh250,000 Content-related violations Publishing false information or harmful content: Dh5,000–Dh150,000 Promoting destructive ideas or insulting youth: up to Dh100,000 Inciting criminal behaviour (murder, rape, drug abuse): up to Dh150,000 Licencing violations Operating media activities without a licence: First offence: Dh10,000 Repeated offence: Dh40,000 Practicing additional media activity without approval: First offence: Dh5,000 Repeated offence: Dh16,000 Failure to renew licence within 30 days: Dh150/day, capped at Dh3,000 What should you do to stay compliant? Where can professionals go to get licenced or stay compliant? To help professionals navigate these requirements, the UAE Media Council offers a wide range of licencing and content-related services on its official platform. These services are designed to simplify compliance for individuals and institutions working in media, advertising, and digital content. Licencing and content regulation services include: For institutions and individuals: Licencing for digital media, news platforms, and advertising services Permits for audio/visual blogging and influencer activity Licencing and renewal for visiting individuals creating content in the UAE For content-related activities: Script approvals for theatre, TV, and film Newspaper and magazine distribution permits Publication circulation permits (local and international) Video game and foreign media trading permits Self-monitoring tools for internal content review These services are meant to encourage early compliance and help media workers stay on the right side of the law while continuing to produce quality, responsible content. Services can be explored and applied for at the UAE Media Council website: Who issues the fines? A Media Content Standards Violations Committee will handle enforcement. It is a permanent committee established within the UAE Media Council and composed of 3 to 7 media specialists. Can you appeal a fine? Yes. The law outlines a grievance process:
Zawya
28-05-2025
- Business
- Zawya
CBUAE imposes financial sanctions of 18.1mln on two branches of foreign banks operating in the UAE
Abu Dhabi: The Central Bank of the UAE (CBUAE) imposed financial sanctions on two branches of foreign banks operating in the UAE, amounting to 10,600,000 for the first bank and 7,500,000 for the second bank, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations. The financial sanctions were imposed based on the findings of examinations conducted by the CBUAE, which revealed violations and failures to comply with the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework, and related regulations. The CBUAE, through its supervisory and regulatory mandates, endeavors to ensure that all banks and their staff, abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system.
Zawya
28-05-2025
- Business
- Zawya
CBUAE imposes financial sanctions of $4.93mln on two branches of foreign banks
The Central Bank of the UAE (CBUAE) imposed financial sanctions on two branches of foreign banks operating in the UAE, amounting to AED10,600,000 for the first bank and AED7,500,000 for the second bank, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations. The financial sanctions were imposed based on the findings of examinations conducted by the CBUAE, which revealed violations and failures to comply with the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework, and related regulations. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all banks and their staff, abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system.
