UAE | Crime
UAE's anti-graft steps show result
The UAE authorities are focusing on stamping out corruption at all levels
- By Bassam Za'za', Senior Reporter
- Published: 00:00 November 6, 2011
- Image Credit: Abdel-Krim Kallouche/Gulf News
- The UAE ranked 28th worldwide and second among Gulf countries on the Transparency International Corruption Perceptions Index for 2010.
Dubai: The UAE authorities are focusing on stamping out corruption at all levels because of its political and economic impact, a lawyer has said during the International Bar Association's annual conference in Dubai.
"The economic slowdown brought on by the global financial crisis in 2008 led to a number of high-profile prosecutions and court cases of executives involved in corrupt practices in the UAE including Dubai.
"Since then and due to the political and economic impact of corruption, the UAE authorities have focused on stamping out corruption at all levels of government and private sectors, irrespective of positions," advocate Khalid Al Hamrani of Al Tamimi and Co said.
The UAE authorities' highly-praised efforts to combat all sorts and levels of corruption has proved successful, according to Al Hamrani, as the UAE ranked 28th worldwide and second among Gulf countries on the Transparency International Corruption Perceptions Index (CPI) for 2010.
Relevant provisions
"Transparency International's CPI ranks countries by their perceived level of corruption both at government and private sectors. Hence business enterprises need to be aware of relevant provisions to ensure compliance and avoid prosecution and litigation. Most companies considering foreign investment opportunities refer to the CPI ranking of countries as part of their due diligence and risk assessment processes. Eradicating corruption at all levels of public and private sector impacts CPI ranking and may stimulate foreign direct investment [FDI] in the long run," Al Hamrani, who is a Partner and Head of Special Projects Department in Al Tamimi and Co.
He delivered his presentation during a session titled the ‘International Response and Programmatic Initiatives To Counter Corruption', during the IBA conference that was held in Dubai between October 30 and November 4.
The session was a joint venture with the Anti-Corruption Committee and the Arab Regional Forum.
Homer E. Moyer Jr of Miller and Chevalier Chartered, Washington DC, chaired the session..
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