CENTRAL BANK ORDERS FREEZE OF TERROR ACCOUNTS

ABU DHABI — 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 Saudi Arabia, the UAE, Bahrain and Egypt on July 25, 2017. The move comes as part of the four countries’ consistent efforts to fight terrorism and their continual endeavours to update their lists of groups designated as terrorist organisations and individuals, and in line with UAE Cabinet Resolution No 28 /2017 to add nine individuals and nine charities to the terror lists. —