Federal Anti-Bribery Legislation in the United Arab Emirates
Analysis
Although the UAE has had anti-bribery legislation in place since the late 1980s in the form of the UAE Federal Penal Code (the “Code”), the businesses community in the UAE has, to a large extent, been unaware of the existence of the Code and how its provisions could impact their business operations locally. However, following the slowdown of the UAE economy, as a consequence of the global economic crisis, there has been a marked rise in prosecution of individuals suspected of corrupt practices in the UAE under the Code as authorities seek to enforce this law in order to curb such practices. In particular, certain high profile cases, which made the headlines, have highlighted the importance of being aware of the provisions of the Code and its implication for businesses in the UAE.