Rasmala solves compliance concerns

The

Dubai Financial Services Authority (DFSA) said it has accepted an Enforceable Undertaking (EU) from Rasmala Investment Bank (RIBL), a company incorporated in the Dubai International Financial Centre and a DFSA authorised firm.

The EU resulted from DFSA concerns about RIBL’s anti-money laundering (AML) systems and controls, and about whether it had carried out the Financial Service of Providing Custody to its clients without being licensed to do so.

(Staff Report)