Dubai officials dismiss rumors of capital controls targeting investors

Authorities in Dubai issued a statement early Thursday, rejecting reports that the United Arab Emirates had introduced strict measures to prevent foreign investors from withdrawing capital and leaving the emirate.

According to Al Khaleej and the state news agency WAM, the false claims alleged that authorities planned to freeze bank accounts and impose restrictions on money transfers and capital movement to retain investors.

Dubai’s media office said the reports were unfounded, stressing the UAE economy remains strong and that Dubai will continue to serve as a global economic hub and a magnet for investment.

Officials also reiterated calls for the public to rely on verified information from official channels and to refrain from spreading rumors that could cause panic or have wider repercussions, particularly during periods of global economic uncertainty.

In a statement, the UAE Ministry of Economy and Tourism likewise denied social media reports suggesting restrictions on the movement of capital or attempts to prevent foreign investors from transferring or managing their funds in accordance with applicable laws and regulations.

The ministry reaffirmed the UAE’s commitment to economic openness and the free movement of capital, in line with international best practices, saying these policies are intended to reinforce a stable and attractive investment environment for investors worldwide.