The resolution issued by the Cabinet on Wednesday adds 10 individuals and one entity to the UAE's proscribed list for supporting terrorism.
The Cabinet Resolution directs the UAE Central Bank to take all necessary legal action in order to appropriately deal with the accounts of the named individuals and institutions.
This collective action is the first taken by the recently established Terrorist Financing Targeting Centre (TFTC) which is co-chaired by the US and Saudi Arabia. The TFTC comprises all Gulf Cooperation Council countries and the US.
The TFTC action targets leaders, financiers, and facilitators of terrorist organisations.
The UAE has expressed its support of the list issued by the TFTC, affirming that this action was an effective step towards countering terrorism, and draining its sources of funding by countries and individuals.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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