No unusual transfers into UAE: Central Bank

The UAE has not recorded any unusual financial inflows from Egypt, Tunisia and other Arab countries hit by unrest over the past few days, the semi-official daily 'Alittihad' said on Wednesday.

It quoted an unnamed central bank official as saying reports in international media about such transfers into the UAE were untrue.

“These are rumours that have no basis…they are mere assumptions that are not based on any correct or accurate data…for some time, banks in Egypt were closed so there no transfers at all,” the official told the Arabic language newspaper.

“All the news carried in the media about unusual financial transfers from those countries into the UAE’s banking system are only misleading reports and suspicious analysis.”

According to the official, countries which suffer from turbulence normally increase their control of financial transfers and their banking sector and this will block any illegal or unusual transfers.

“The UAE banks have not received any unusual transfers from the Arab countries which are witnessing such events.”

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