DFSA Enforcement Action against Rasmala Investment Bank Limited

Without admitting that its AML program was deficient and that it provided custody services without a license, Rasmala Investment Bank Limited (RIBL) agreed to a $60,000 (USD) penalty from the Dubai Financial Services Authority (DFSA), and agreed to hire an independent expert to oversee its remediation.

DFSA notes that RIBL cooperated fully and had already taken “significant” remedial action.


DFSA Media Release

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