Abdul Aziz Al-Ghurair, head of the UAE Banks Federation, said the UAE banks have been banned from doing business with some extremist groups including the Muslim Brotherhood, as the central bank won powers to freeze suspect accounts for up to seven days, according to Arab News.
He added that the lenders had been told not to do business with the UAE branch of the Egypt-based Brotherhood and with Al-Islah, a local extremist group banned in the UAE for alleged links to the Brotherhood.
The UAE designated 85 organizations as terrorist groups including the Brotherhood, Islamic State — which has taken over swathes of Syria and Iraq — and other militant groups such as Yemen’s Houthi movement.
He added that the lenders had been told not to do business with the UAE branch of the Egypt-based Brotherhood and with Al-Islah, a local extremist group banned in the UAE for alleged links to the Brotherhood.
The UAE designated 85 organizations as terrorist groups including the Brotherhood, Islamic State — which has taken over swathes of Syria and Iraq — and other militant groups such as Yemen’s Houthi movement.
Source:
Mubasher
