UAE orders banks to freeze accounts, assets of those on terrorist list

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The Central Bank of the UAE issued a general statement to all banks and financial institutions to search for and freeze any accounts, deposits or investments belonging to persons and entities listed by the four countries boycotting Qatar.

The bank said in a statement that the orders come within the framework of the efforts of the United Arab Emirates, Saudi Arabia, the Kingdom of Bahrain and the Arab Republic of Egypt in the fight against terrorism, and their ongoing efforts to update the lists issued in their countries with the names of entities and individuals listed for terrorism.

The bank also noted that its decision was based on "UAE Cabinet Decision No. 2017/28 listing 9 individuals and 9 entities on the terrorist list."

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