March 17, 2020 / 7:32 PM / in 17 days

UAE says takes control of UAE Exchange's operations

DUBAI, March 17 (Reuters) - The UAE’s central bank has taken control of the operations of UAE Exchange, a unit of troubled London-listed payment firm Finablr, the central bank said on Tuesday.

The Central Bank of UAE’s inspection team also started examining UAE Exchange on Tuesday to verify its compliance with the applicable laws and regulations, it said.

“The Central Bank of UAE will take additional action, if necessary, once the examination is completed,” it said. (Reporting by Davide Barbuscia and Saeed Azhar; Editing by Sandra Maler)

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