Central Bank freezes accounts of new terrorist outfits

The UAE Central Bank has issued a circular to all banks and other financial institutions operating in the country to start immediate search for and freezing of all bank accounts, investments, and deposits that may be held by any individual or entity mentioned in the new terror lists declared by the Kingdom of Saudi Arabia, United Arab Emirates, Kingdom of Bahrain and Egypt on July 25th, 2017.
The move comes as part of the four countries’ consistent efforts to fight terrorism and their continual endeavors to update their lists of groups designated as terrorist organisations and individuals, and in line with the UAE Cabinet Resolution No 28 /2017 to add nine individuals and nine charities to the terror lists.

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