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The United Arab Emirates central bank has instructed local banks to stop dealing with 59 individuals and 12 entities with alleged links to Qatar and to freeze all their assets, the state news agency WAM reported on Friday.
This came after Saudi Arabia, the UAE, Egypt, and Bahrain, who have isolated Qatar by cutting all diplomatic and transport links this week, put dozens of figures with links to the country on blacklists.
The central bank directed banks and other financial institutions in the country to search for and freeze any accounts, deposits, or investments belonging to any of the persons and entities blacklisted.
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 has also ordered banks and other financial institutions 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.
(CGTN)
