Saudi Arabia Tightens Scrutiny on UAE-Bound Money Transfers

Saudi Arabia has reportedly told major banks to apply tougher scrutiny to financial transfers going to the United Arab Emirates. The measures have not been publicly announced but are said to include checks typically used for jurisdictions considered higher risk for money laundering, terrorism financing and other financial crimes.

Businesses say transfers from Saudi accounts to the UAE have been delayed or returned, sometimes without a clear explanation. The extra requirements are creating friction for companies that rely on smooth cross-border payments between the two Gulf economies.