The rules include requiring exchange houses to appoint a compliance officer." /> The rules include requiring exchange houses to appoint a compliance officer." >
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UAE money exchange houses ordered to raise standards by regulator

Money exchange houses in the United Arab Emirates have been ordered by the central bank to raise their standards, after several banks cut ties with them due to concerns about the risk of illicit financial flows.
The United Arab Emirates' huge expatriate workforce and growing business and tourism sectors have made it a global centre for exchanging foreign currencies and transferring money to and from the Middle East, Asia, Africa and parts of Europe.
The rules include requiring exchange houses to appoint a compliance officer and to check and record the identification of the senders and receivers of all money transfers, Currently, exchange houses are only required to do so on transactions of more than 2,000 dirhams.

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