Gulf banks on alert for hot money from Egypt - The National

Gulf banks are on the alert for suspicious money flowing from Egypt and Tunisia after several former officials had their assets frozen.

Most of the money leaving the two countries forms part of the capital flight that bankers say is to be expected during a crisis, but the asset freezes mean close monitoring was needed.

"There's been a substantial inflow of funds from countries including those [two] in the past week," said the chief executive of a UAE bank, who asked to remain anonymous.