According to company executives and various sources, Saudi Arabian banks have been delaying, blocking, or returning financial transfers involving the United Arab Emirates since mid-May. These actions, which affect transactions in multiple currencies, are frequently carried out without any official explanation provided to the involved parties.
Economy
Saudi Arabia increases scrutiny on financial transfers to UAE
Since mid-May, Saudi banks have been delaying or blocking financial transfers involving the UAE without providing official explanations.
Source: The Business Standard