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Saudi Arabia

Expats told to close bank accounts before exit

MADINAH: The Interior Ministry has warned citizens and residents to be careful with their bank accounts by not allowing anyone to use their accounts for terrorism-related purposes.
Official spokesmen for the ministry have noted recently that many bank accounts of expats who leave the Kingdom often remain open and pose a great risk to the security of the nation. The authorities says it should be closed before their departure to ensure that no one can access their accounts for financial transfers of a suspicious nature.
Specifically, security expert Nayef Al-Marwani said that these bank accounts remain a dangerous security breach and may help in the financing of terrorism electronically between individuals. He added that most cases of terrorism depend on such modes of electronic finance, which is proven to have been used to fuel the events of Sept. 11, 2001 in the United States.
Al-Marwani said that it was essential that the parties concerned are made aware of this and make closing their accounts prior to departing the Kingdom a top priority.
Al-Marwani also suggested that as soon as expats apply for their final exit visa, this should be contingent upon the person closing their bank account prior to the visa being supplied.

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