Stamping out bribery & corruption: An Oman perspective
Type
E-journal
Date
15 Mar 2016
Jurisdiction
Oman
Taxonomy
Financial & Business Offences
Copyright
LexisNexis
Relevant company
Al Tamimi & Company
Analysis
In 2014, the business community in Oman was shaken by the sudden surge in criminal prosecutions brought against senior executives and government officials for corruption.
Major companies and public officials, it seemed, were all within the reach of the prosecutor in a major drive by the Sultanate to eradicate what is seen as an ill of any developed society. There is a strong suggestion that more prosecutions are forthcoming.
In this article we look at what is meant by bribery, the standards imposed by the international community on countries like Oman and how private sector companies can protect themselves in this area of their business.
What is bribery?
The concept of a bribe is generally well understood. In its basic form, bribery involves a payment made to a person in a position of authority to entice that person to behave in a way which will place the payer in a favourable position.