Dubai: The government of Dubai on Sunday reiterated its commitment to zero tolerance of corruption in the public and private sectors. The move comes in the context of burgeoning investigations into corporate activities involving alleged bribery and corruption.
"The Dubai Government follows a transparent and clear policy on such issues," a statement issued by the Media Office for His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said.
"There are strict directives to have zero tolerance towards all aspects of corruption, bribing and taking advantage of official positions," the statement said, issued on behalf of Dubai's Public Prosecutor.
The government statement comes after a series of corruption investigations was launched by the Dubai Public Prosecution in recent months into alleged cases of bribery, front running and insider deals in real estate transactions and corporate kickbacks.
Corporate CEOs, econ-omists and analysts have welcomed the government's efforts to weed out corruption
"The clear policy and actions of the Dubai Government to fight corruption will enhance people's confidence in Dubai as a global investment destination," Ahmad Humaid Al Tayer, Chairman of Emirates NBD, the largest Gulf bank in terms of assets, told Gulf News in a telephone interview. "In the domestic markets too, it will enhance the confidence level of small investors."
Several senior corporate executives are currently under investigation.
"The results of the ongoing investigations will be made public once they are complete," the Public Prosecutor said on Sunday.
Commenting on the recent questioning of employees of listed and public establishments on suspicion of exploiting their positions to make illegal profits, the Public Prosecutor said the government will continue to take a strict stance against all aspects of corruption, and will take legal action against violators. "We welcome the government move and it will send a clear message to all stakeholders in the economy and the markets," Eisa Kazim, Director General of Dubai Financial Market, told Gulf News.
"Ensuring the upholding of the very highest standards of corporate governance and transparency is critical to the long-term success of both companies and governments," said Nasser Bin Hassan Al Shaikh, Chairman of Deyaar.
Dubai has a history of zero tolerance against corruption in the government and private sectors. In 2001, the head of Dubai's customs department, Dr Obaid Saqr Busit, several aides, including Ali Hassan Foulath, Director of Hamriya Port and Customs Centre, Khalifa Ali Bin Galita, Director of Dubai Customs Automobile Zone, and Pakistanis Abdul Nabi Bankash Haji Ghulum, Shahid and Iqbal were prosecuted for corruption.
Previously Dubai has charged 14 government officials for graft and embezzlement. Among those arrested then was Lieutenat Colonel Eissa Saif Eissa Al Ali, then the head of the passports section at Dubai International Airport.
The latest crackdown began with a government audit of some real estate and financial transactions by Dubai Islamic Bank and its subsidiaries last November.
Following the investigations, Zack Shahin, a former chief executive officer of Deyaar, a real estate company belonging to DIB group, and three others were arrested earlier this year for allegedly embezzling funds. Their case is still before the courts. In yet another case relating to the financial deals of DIB in Turkey and Pakistan, a former employee of DIB and later JPMorgan's senior country officer for the UAE, Omair Mooraj, was detained by Dubai police.
"Any employee exploiting his position to make illegal profits will not have immunity," the Public Prosecutor said. "The strictness with which some violations that emerged in the recent past were dealt with confirms the government's commitment to maintaining the highest global standards in fighting corruption and enhancing its achievements in the economic, financial and legislative fields."
Transparency: Sergeant held for fraud
A police sergeant in the Abu Dhabi Police vehicle licensing department has been arrested for aiding a Dh13 million fraud.
The sergeant helped a former employee of the department to illegally sell 17 BMWs registered as tourist cars, police said.
The 33-year-old sergeant accessed his colleagues' computers while they had gone for prayers or during their absence from the office. Police say he transferred, registered and cancelled cars belonging to a car rental company owned by a 40-year-old Emirati, a former department employee.
Police have been instructed by the Minister of Interior to expose any violations by ministry employees and to publish them to ensure transparency, said Colonel Maktoum Al Sharifi, director of criminal investigation.
An investigating team was formed headed by Ebrahim Al Hanaei, head of the organised crime section. The team found that 17 cars had been sold with forged papers. Al Hanaei said the staff involved will face charges of misuse of authority and forgery of official documents.
- Staff Report
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