FILE PHOTO: A man enters the main branch of UAE Central Bank in Abu Dhabi, January 29, 2013. REUTERS/Ben Job
ABU DHABI (Reuters) - The United Arab Emirates' decision to punish seven currency exchange houses is unrelated to a crackdown on a network funnelling illicit funds to Iran, the UAE central bank said on Sunday.
"The seven exchange houses had their licences downgraded because they were found to be in violation of central bank regulations, including anti-money laundering regulations, and then failed to regularise their status during a grace period," a central bank statement to Reuters said.
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