A Senior official at UAE’s finance ministry and industry said that the United Arab of Emirates and the United States of America seized on Wednesday the assets of Al Barakat and others belong to a number of organizations, companies and individuals linked to it.
The next day, the freezing assets phenomenon expanded to engulf 62 individuals and groups who are suspected of financing or dealing with Osama bin Laden or his movement.
The order came in power by the Central Bank of the United Arab Emirates.
The source was quoted by Emirates’ official news agency (WAM) as saying that the UAE and the US yesterday seized the assets of Al Barakat and other assets having in a way or another ties with “terrorist organizations, including Al Qaeda network.”
These entities were designated by the US Secretary of the Treasury under executive order 13224 and will be added to the United Nations assets freeze list under Security Council Resolution 1333.
The designated organizations operate all over the world, including in the UAE and the US.
Both UAE and US authorities had moved to block bank accounts and seize physical assets of these entities to ensure that their activities could no longer pose a threat to international security or to the conduct of legitimate economic activity, said the agency.
On October 30, the UAE’s central bank shut down a foreign exchange office and placed nine others under surveillance – Albawaba.com
