UAE notifies all ‘Arab’ banks to stop all kinds of dealings linked with Qatar
 Source : News Bharati English  Date : 27-Jul-2017

Abu Dhabi, July 27: The diplomatic rift between four Arab nations including Saudi Arabia, the UAE, Bahrain and Egypt with Qatar is getting more intensified as both the sides are not ready to compromise on several issues. Now, the United Arab Emirates has asked all banks and financial institutions to stop dealing with 18 more individuals and entities with alleged links to Qatar.

Notably, the central bank of United Arab Emirates (UAE) on Wednesday taking a stringent move against terrorism asked all other banks and financial institutions to stop dealing with 18 more individuals and entities with alleged links to Qatar. Now, the central bank of UAE has become the first financial watchdog in the Gulf to act on the new blacklist, with regulators in Saudi Arabia, Bahrain and Egypt likely to follow.

In a circular, the UAE watchdog asked banks and financial institutions to "start an immediate search for and freezing of all bank accounts, investments, and deposits that may be held by any individual or entity" included on the July 25 list. UAE's minister of state for foreign affairs, Anwar Gargash, said on his Twitter account that "we have to go on without Qatar".

Earlier on Tuesday, all the four Arab countries announced of blacklisting nine groups based in Yemen and Libya and nine people from several Arab countries accusing all were directly or indirectly linked to Qatar and sponsors terrorism.

However, Doha strongly denied all the claims made by Arab nations. Qatar said on Wednesday that the new blacklist was "a disappointing surprise" and that it was doing all it could to fight extremism.

Interestingly, in the month of June this year, these four Arab States had released a list of 59 individuals and 12 Qatari affiliated entities describes as ‘terrorist supporters’. Meanwhile, the four countries also affirm the continuation of their current measures, and possible future measures that might be taken, until the Qatari authorities are committed to fulfilling all the just demands, which ensure countering terrorism and maintaining security and stability in the region.

Saudi Arabia, the UAE, Bahrain, Egypt and several other nations cut ties with Qatar and imposed stringent economic sanctions on it over supporting extremism. On the other side, Qatar denied all their allegations saying that they never supported Islamist militants and Shi'ite Iran.

Last month, the UAE central bank ordered local banks to stop dealing with 59 individuals and 12 entities with alleged links to Qatar and to freeze their assets. It also told them to apply enhanced due diligence for any accounts they hold with six Qatari banks.