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.

Link:

DFSA Media Release

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s