UAE targets Islamist accounts in money-laundering clampdown

November 20, 2014 9:47 AM

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DUBAI (Reuters) - United Arab Emirates banks have been banned from doing business with some Islamist groups including the Muslim Brotherhood, their representative said, as the country's central bank won powers to freeze suspect accounts for up to seven days.

The government said it was stepping up efforts to cut off financing to groups it classifies as terrorist. The move was announced in a decree published on the prime minister's website, which did not mention specific groups.

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