Three people familiar with the matter said Saudi Arabia has imposed additional controls on financial transfers to banks in the United Arab Emirates, measures typically applied to jurisdictions judged high-risk for illicit flows. The steps have not been publicly announced but may explain why some firms recently reported difficulty moving funds from Saudi accounts to the UAE; business sources said transfers in multiple currencies were delayed or returned by Saudi banks without explanation. The dev

Three people familiar with the matter said Saudi Arabia has imposed additional controls on financial transfers to banks in the United Arab Emirates, measures typically applied to jurisdictions judged high-risk for illicit flows. The steps have not been publicly announced but may explain why some firms recently reported difficulty moving funds from Saudi accounts to the UAE; business sources said transfers in multiple currencies were delayed or returned by Saudi banks without explanation. The developments signal a widening rift between the two Gulf states. The Saudi central bank said currently there are no direct restrictions targeting specific countries.