UAE Exchange controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Finablr financing and liquidity crisis
UAE Exchange was affected by the crisis at parent group Finablr, which disclosed approximately $100 million in previously undisclosed financing, faced uncertainty over its financial position, and was suspended from trading on the London Stock Exchange. UAE Exchange suspended new transactions and was subsequently placed under Central Bank of the UAE supervision.
2020
Withdrawal of Xpress Money UK authorisation
The UK Financial Conduct Authority withdrew Xpress Money Services Limited’s authorisation for its previously authorised payment-services activities, with limited activity permitted only as agreed with the regulator.