[Editor’s Note: Follow Khaleej Times live blog amid US-Israel-Iran war for the latest regional developments.]
Authorities in Dubai shared a fact check statement early on Thursday, refuting reports claiming that the UAE introduced strict laws to prevent foreign investors from withdrawing their capital and leaving the emirate.
The false reports alleged that the measures include freezing bank accounts and imposing restrictions on money transfers and capital movement to retain investors. Dubai media office made it clear that the UAE economy is strong, and Dubai will continue to remain a global economic hub and a magnet for investors.
Authorities in the UAE call on the public regularly to seek official channels for verified information and to refrain from spreading rumours that stir panic in the society and might have wider repercussions amid uncertain times.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
In a statement, the UAE’s Ministry of Economy and Tourism denied these reports which circulated on social media regarding imposing restrictions on the movement of capital or preventing foreign investors from transferring or managing their funds in accordance with the applicable laws and regulations.
The Ministry underscored the UAE’s firm commitment to policies of economic openness and the free movement of capital, in line with international best practices, in a manner that reinforces a stable and attractive investment environment.
(With inputs from WAM)
Source: Khaleej Times