Banks and other financial institutions operating in the United Arab Emirates have been instructed to search for and freeze any accounts or deposits or investments held by individuals or entities designated as terrorists or terrorist organisations by the UAE, Saudi Arabia, Bahrain and Egypt.
The UAE Central Bank issued a circular stating the freezing measures as part of the quartet-led efforts to combat terrorism and update terror lists and on the basis of Thursday's Cabinet Resolution, according to a circular issued by the Central Bank of the UAE.
The statement, based on UAE Cabinet Resolution 28/2017, designates nine individuals and nine entities on the terror list.
The bank had already issued two previous statements based on the UAE Cabinet Resolution 18/2017 designating fifty-nine individuals and twelve entities as terrorists or terrorist organizations.
It also designated Qatar-based financial institutions which held operated accounts for these sanctioned individuals and entities.
The list includes Qatar Islamic Bank, Qatar International Islamic Bank, Barwa Bank, Masraf al Rayan, Qatar National Bank and Doha Bank.
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