DUBAI TAKES UP THE CUDGELS AGAINST MONEY LAUNDERING: Over the last couple of decades, Dubai has widened its area of influence on the global stage from being a trading hub to a centre of global finance. However, some unscrupulous entities seek to misuse this liberal regime and tend to engage in financial malpractices. In this regard, the Ministry of Justice’s decision to suspend activities of 200 firms that failed to take anti-money laundering measures is a laudable move that will help reinforce global investor confidence in the emirate’s legal system. Dubai will always be open to business, but everyone remains subject to the law of the land. [COMMENT BY: Somshankar Bandyopadhyay, Assistant Editor]
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