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UAE Central Bank Orders To Freeze Accounts Related To Terrorism List

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DUBAI – The Central Bank of the United Arab Emirates (UAE) issued Friday two notices to order banks in the UAE on transactions with Qatari banks to freeze the accounts related to an issued “terrorism” list, UAE state news agency WAM reported, according to China’s Xinhua news agency.

The UAE Cabinet Friday issued Resolution No. 18 of 2017 on the adoption of a joint statement issued by Saudi Arabia, the UAE, Egypt and Bahrain, which ranks 59 individuals and 12 entities on its lists linked to Qatar and banned them from entering or doing business in the four Arab states.

The central bank directed banks and other financial institutions operating in the country to search for and freeze any accounts, deposits or investments belonging to any of the persons and entities on the list.

A number of financial institutions “have been identified, which have opened bank accounts for these individuals and terrorist entities,” said the WAM report.

The UAE Central Bank in Abu Dhabi also ordered banks and other financial institutions operating in the country to immediately apply enhanced due diligence procedures on transactions with any of the following Qatari banks: Qatar Islamic Bank, Qatar International Islamic Bank, Barwa Bank, Masraf Al Rayan, Qatar National Bank and Doha Bank, the report said.



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