The Central Bank of the United Arab Emirates (CBUAE) has announced that it has revoked the license of Muthoot Exchange, which is an active exchange in the United Arab Emirates, and removed its name from the register.

According to Amac News: In the announcement of the Central Bank of the Emirates, it is stated that CBUAE investigations show that Muthoot exchange failed to maintain its paid-up capital and equity at the level required by applicable standards and regulations.
According to the announcement, the Central Bank of the UAE, through its regulatory functions, strives to ensure that all exchanges, their owners and employees comply with the UAE laws, regulations and standards established by the CBUAE to protect the transparency and integrity of the financial system. The UAE is approved, they follow.