UAE Central Bank orders freeze of Ben Ali assets

The Central Bank of the United Arab Emirates has ordered banks to freeze all assets of ousted Tunisian President Zine el Abidine Ben Ali, his wife, and 120 other Tunisians.

The UAE central bank instructed banks to “search for and freeze accounts, deposits and investments” of the former president and those of his wife, Leila Trabelsi, and others, according to newspaper Alrroya Al Iqtissadia, which cited a circular from the bank.

The bank said that the orders follow a request, transmitted through the foreign ministry from the Tunisian public prosecutor, which asked for the former president’s assets to be frozen worldwide, the paper added.

Mr. Ben Ali fled Tunisia in January and currently resides in Saudi Arabia, following a popular revolt against his 23-year rule. That revolt is widely believed to have ushered in the “Arab Spring,” a pan-Arab movement that led to the ousting of President Hosni Mubarak of Egypt, and protests in Yemen, Libya, Oman and Bahrain.

Family members say Mr. Ben Ali suffered a stroke in February and he has made no public appearances.

On Monday, however, he spoke for the first time since his ouster through his French lawyer Jean-Yves Le Borgne describing his imminent trial in Tunisia on corruption charges “a masquerade.”

Tunisia’s interim administration has asked for the former president’s extradition from Saudi Arabia along with his wife, Reuters reported.

This is not the first time the Central Bank of the UAE has announced a crackdown on the assets of an ousted president after the recent political uprisings in the Arab world.

In April, the UAE central bank also launched an immediate investigation into accounts, investments or deposits belonging to Mr. Mubarak in the Gulf State.

The bank requested that national banks, investment companies, and the main branches of foreign banks search for financial transfers done on behalf of Mr. Mubarak.

This had come after Mr. Mubarak’s first public remarks since resigning, in which he hit back at “campaigns of defamation and false accusations” and critics estimating the size of his wealth.

In a recorded message broadcast exclusively on Al Arabiya in April, Mr. Mubarak said he did not own any accounts or assets outside of Egypt.

He had openly welcomed inquiries into his finances.

But last month Mr. Mubarak was charged with profiteering and using his position for illicit gains and squandering public funds. He is now scheduled to face trial on August 3, Egyptian newspaper Al Masry Al Youm reported.

(Eman El Shenawi, a writer at Al Arabiya English, can be reached at: [email protected])