By: Amr Adel
Dubai – Mubasher: Several banks operating in the UAE have decided to suspend bank transfers from and to Qatar, banking sources told Mubasher on Tuesday.
This is a “precautionary" measure until the Central Bank of the UAE issues instructions regarding this matter, the sources, who could not be named because the information is private, added.
Earlier on Tuesday, banking sources told Mubasher that the UAE banks did not receive official guidance from the Central Bank about suspending their dealings with Qatari banks.
Local media reported that the UAE Central Bank had asked banks to provide details about their exposure to Qatar’s banks.
The UAE has 58 banks operating in the country, of which 23 are national banks and 35 are foreign ones.
On Monday, Saudi Arabia, Bahrain, Yemen, Libya, Egypt, and the UAE broke their diplomatic relations with Qatar, accusing it of supporting terrorism.
Translated by: Mohamed Hesham Azab
