Here's an alternative to the more likely explanations in the other answers. The policy might be a lonely survivor of the Service Oriented Architecture school of thought. Which stated that:
Service-orientation aims at a loose
coupling of services
Linked servers are low level and strongly coupled, and an architecture astronaut might ban linked servers because of that.
One way to "fix" this policy is to convince your business clients that you have a good, solid solution for their problem; but that it absolutely requires linked servers. The business people will talk to the DBA's, and there's a good chance the DBA will agree to a trial of the linked server. For this to work, talk to the DBA with the strongest opposition to linked servers. DBA's can downtalk developers, but they tend to yield quickly to the Business.
A trial will be the end of the policy. Linked servers work, and SOA does not.
P.S. In the Netherlands we got lucky: SOA means sexually transmitted disease in Dutch, so the SOA silver bullet fantasy kinda flew by :-)