UAE c bank begins registering hawala operators

UAE - In a first step towards regulation of hawala, the UAE Central Bank has embarked on a registration and reporting system for hawaladars or brokers.

"The Central Bank will start registering and issuing a simple certificate to all hawala brokers (hawaladars) in the UAE, free of charge, Gulf News reported. The Central Bank of the UAE assures hawala brokers that their names and details will be kept safe at the Central Bank," an announcement from the UAE Central Bank said yesterday.

Accordingly,

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