Saudi Arabia tightens regulations on money flow to UAE, in latest sign of deepening rift

The measures, which were not announced publicly, could help explain why a number of companies say they have had difficulties transferring funds from accounts in Saudi Arabia to the UAE recently.

By Timour Azhari RIYADH, Aug 18 (Reuters) - Saudi Arabia has placed financial transfers to the United Arab Emirates under extra layers of regulatory oversight reserved for countries considered high-risk for illicit money flows, according to three people with direct knowledge of the matter, the latest sign of a widening

Three bankers said the enhanced oversight means transfers to the UAE pass through more hands and receive closer scrutiny from compliance departments.

RIYADH, Aug 18 - Saudi Arabia has placed financial transfers to the United Arab Emirates under extra layers of regulatory oversight reserved for countries considered high-risk for illicit money flows, according to three people with direct knowledge of the matter, the latest sign of a widening rift between the wealthy G