An Insight into the Newly-formed Dubai Economic Security Centre
Type
E-journal
Date
28 Jul 2016
Jurisdiction
Dubai
Taxonomy
Regulation & Offences, Financial & Business Offences
Copyright
LexisNexis
Relevant company
Al Tamimi & Company
Legal reference
Dubai Law No. 4/2016
Analysis
The United Arab Emirates (“UAE”) has remained steadfast in its efforts to curb financial crime including bribery and corruption. This includes implementing relevant safeguards by means of laws to deter and prevent such crimes, upholding those safeguards by means of close monitoring and international cooperation.
Introduction
The United Arab Emirates (“UAE”) has remained steadfast in its efforts to curb financial crime including bribery and corruption. This includes implementing relevant safeguards by means of laws to deter and prevent such crimes, upholding those safeguards by means of close monitoring and international cooperation.
One recent initiative came to light in Dubai on 18 April 2016, when His Highness Sheikh Mohammed Bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, issued Dubai Law No. 4/2016 entitled the Dubai Economic Security Centre Law (“the Law”).