The latest
Companies and individuals have faced unusual delays completing bank transfers from Saudi Arabia to the United Arab Emirates over the past several weeks, Bloomberg reported, citing people familiar with the matter. The delays have affected multiple sectors, but the cause and scope remain unclear.
Details
• Transfer problems: Bloomberg said some funds left accounts in Saudi Arabia but did not reach their intended destinations in the UAE.
• Payment issues: Some transfers were reportedly rerouted back to senders, while electronic payments were blocked.
• Workarounds: Several affected parties have routed payments through other jurisdictions that appear to be unaffected, according to Bloomberg.
• Saudi response: Saudi Arabia’s central bank said there are no direct restrictions on specific countries and that banks apply risk-based safeguards across transactions.
• UAE response: A UAE official said the economy and tourism ministry had not received private-sector complaints about unusual delays in transfers between the two countries.
Background
The issue touches a sensitive financial corridor. Saudi Arabia and the UAE are the Gulf’s two largest economies, home to major sovereign wealth funds and deeply connected through trade, banking and investment flows. Bloomberg said bilateral trade rose to $25.7 billion last year, up from $21.7 billion in 2024.
What to watch
Key signals now include any clarification from banks, signs of new compliance checks, whether the delays widen, and whether companies keep shifting Saudi-UAE payments through alternative routes.
