UAE

Dubai sets up money laundering court

cde.news desk 23 August 2021, 07:30 · 1 min read

epa08974737 (FILE) - The sun sets behind the world's tallest completed building, the Burj Khalifa (rear C), rising high in the skyline above all other buildings of Dubai, United Arab Emirates, 26 January 2021 (reissued 30 January 2021). Dubai ruler and UAE Prime Minister Al Maktoum on 30 January 2021 announced that the nited Arab Emirates (UAE) would open citizenship for selected foreigners, namely 'investors, specialised talents and professionals including scientists, doctors, engineers, artists, authors and their families'. EPA-EFE/ALI HAIDER

Dubai has established a specialised court focused on combating money laundering, in a move to “strengthen the integrity of the financial system”, the emirate’s media office said on Sunday.

The UAE, home to the Middle East financial hub Dubai, has worked over the last few years to overcome a perception it is a hot spot for illicit money. In February the government created an Executive Office for Anti-Money Laundering and Counter Terrorism Financing.

“The establishment of the court is aimed at further raising the UAE’s and Dubai’s global competitiveness by reinforcing the rule of law and upholding the values of justice and transparency,” the media office said.

Photo: EPA-EFE/ALI HAIDER