Abu Dhabi’s financial regulator has delivered a decisive blow to Malik Exchange, revoking its licence and striking the company off the official register. Alongside the shutdown comes a hefty AED 2 million financial penalty.
The move follows a deep-dive examination by the Central Bank of the UAE (CBUAE), which uncovered a series of violations tied to anti-money laundering and counter-terrorism financing regulations. The exchange house was found to have failed in meeting key compliance obligations laid out under the Federal Decree Law on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations.
By taking this step, the CBUAE underscored its zero-tolerance approach to lapses in financial governance. The regulator stressed that its mandate is not only to supervise and regulate, but also to safeguard the UAE’s financial system by ensuring every exchange house, its leadership, and employees adhere to the highest standards of transparency and integrity.
The action sends a clear signal: in the UAE’s financial sector, non-compliance is not an option.
