Three firms in the UAE have been fined AED 2.25 million for violating the country's anti-money laundering rules.
Two of these companies operate in the gold and gemstones sector and the third one in real estate.
The Ministry of Economy said they committed a total of 32 offences, violating the provisions of the Federal Decree-law No. 20 of 2018 on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), its executive regulation, and relevant resolutions.
The companies have the right to appeal the sanctions within 15 days from the date of issuance of the notice.
The Ministry frequently conduct inspections of economic activities under its supervision, those enlisted within the business sector, and non-designated financial professions (DNFBP).
These include brokers, estate agents, gold and gemstones merchants, auditors, and service providers.
Nearly 15,000 companies operate in these fields, under the Ministry's supervision.
Under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, 65,000 books from the 33rd Abu Dhabi International Book Fair have been distributed to libraries at 220 schools across the UAE.
Over 100,000 Emiratis are working the private sector for the first time, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai has announced.
Dubai's Roads and Transport Authority (RTA) has completed internal roads and lighting work in five Al Qusais Industrial areas to triple road capacity from 500 vehicles an hour to 1,500.
President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai have congratulated Al Ain FC on their AFC Champions League triumph.
Under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, 65,000 books from the 33rd Abu Dhabi International Book Fair have been distributed to libraries at 220 schools across the UAE.
Over 100,000 Emiratis are working the private sector for the first time, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai has announced.
Dubai's Roads and Transport Authority (RTA) has completed internal roads and lighting work in five Al Qusais Industrial areas to triple road capacity from 500 vehicles an hour to 1,500.