The Central Bank of the UAE (CBUAE) has withdrawn the license of Muthoot Exchange, an exchange house operating within the UAE, and removed its name from the Register. This action was taken in accordance with Article 137 (1) of the Decretal Federal Law No. (14) of 2018 concerning the Central Bank and the Organization of Financial Institutions and Activities, along with its amendments. The CBUAE's examination uncovered that Muthoot Exchange did not uphold its paid-up capital and equity to the levels mandated by the relevant standards and regulations. Through its supervisory and regulatory roles, the CBUAE is committed to ensuring that all exchange houses, their proprietors, and staff adhere to the UAE's laws, regulations, and standards set by the CBUAE to maintain the transparency and integrity of the UAE's financial system.