UAE Central Bank to investigate UAE Exchange, oversee operations - Arabianbusiness:
It keeps getting worse for Indian billionaire BR Shetty.
His remittance business UAE Exchange is the latest victim in his empire to be investigated for financial discrepancies.
One of the oldest exchange houses in the UAE has stopped new transactions through its branches and online platforms as it struggles with liquidity, and is being investigated by the Central Bank of the UAE (CBUAE), which announced it will oversee its operations management, according to a statement.
Only its Wage Protection System will be allowed to operate until further notice.
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