Saudi and UAE central banks freeze hundreds of bank accounts

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The Saudi Arabian Monetary Authority

The central banks of Saudi Arabia and the United Arab Emirates (UAE) have both suspended the bank accounts of numerous Saudi citizens amid a crackdown on alleged corruption.

A statement from the Saudi Arabian Monetary Authority says it has blocked the accounts of several people accused of corruption on the request of the country’s attorney general. Banking sources told outlets, including Reuters news agency and the UK’s Financial Times, that Sama had suspended around 1,700 bank accounts.

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