According to the CBUAE, the decision was made in accordance with article 22 (2) of the Board of Directors of the Insurance Authority Resolution No. 15 or 2013 with respect to the insurance brokerage regulations.
The revocation of the license comes from an examination carried out by the officials of the Central Bank, which discovered that the dynamic insurance corridors “did not meet the license terms and requirements issued by the Central Bank and with the stipulations of additional stipulations of stipulations
The CBUAE also declared that through its “supervision and regulatory mandates”, it works to ensure that all insurance companies and related professions adhere to the laws of the EAU and the central banking regulations.
This application action reflects the regulator’s commitment to “safeguard the transparency and integrity of the insurance industry and the Eau Financial System”.
