
UAE Denies Blocking Foreign Investor Money Transfers
ABU DHABI,— UAE rejects reports suggesting limits on capital movement or preventing foreign investors from handling their funds.
The Ministry of Economy and Tourism clarified that these claims circulating online are false.
The ministry highlighted that the UAE maintains policies of economic openness and free capital flows consistent with international best practices.
Officials said this framework strengthens stability and encourages investment in the country.
They called on the public and media to seek information from official sources to prevent misinformation.
Foreign investors remain able to transfer and manage funds under existing laws and regulations.
The ministry confirmed that no new restrictions on capital have been imposed or are under consideration.
Meanwhile, shares of banks listed in the United Arab Emirates rose sharply Wednesday after the Central Bank of the UAE announced steps to increase liquidity amid the ongoing Iran crisis affecting Gulf economies.
In a statement dated March 17, the central bank said banks could access up to 30% of their cash reserve requirements. The measures also include term liquidity facilities available in both UAE dirhams and U.S. dollars.
Officials said the move aims to support financial stability and ensure banks have sufficient resources to meet demand during the regional uncertainty.
(With files from WAM)
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