Saudi Arabia Tightens Anti-Crime Oversight on UAE Bank Transfers

Saudi Arabia has introduced stricter controls on bank transfers to the UAE, citing concerns over money laundering and terrorism financing.

The measures, which were not publicly announced, have affected several companies that have experienced delays or difficulties transferring funds between the two countries.

According to sources, Saudi banks are now required to apply additional checks when dealing with customers or jurisdictions considered high-risk for financial crimes.

These changes may be related to a wider rift between the wealthy Gulf monarchies, as tensions have been escalating over issues such as oil quotas and geopolitical influence.