Cheetahs, tigers and lions have infamously become a status symbol in the oil-rich United Arab Emirates (UAE), informs CNN.

But now wealthy citizens taming such wild animals to keep as pets face a $136,000 (700,000 Dirham) fine or jail.

After years of pressure from animal welfare groups, the Gulf country has passed a law banning the private ownership and trade of wild and dangerous animals.

Anyone seen in public walking their exotic pet - taking a tiger for a stroll may sound ludicrous, but is not unheard of in the UAE - will have the animal confiscated and could face up to six months in jail, according to a copy of the law obtained by CNN.

The new law is effective immediately and owners are required to hand over their pets to the authorities.

Ownership of exotic pets has long been considered a status symbol across the Gulf country.

Wealthy owners have been spotted walking their tigers on public beaches in the UAE, and often post pictures on social media flaunting their exotic animal collection.

Some owners have showcased their cheetahs in front of luxury cars, while others have gotten up close and personal with the dangerous animals.

Even the Crown Prince of Dubai, Hamdan bin Mohammed Al Maktoum, has posted several pictures of himself with a lion on Instagram.