Emirates City Forum

A new law to "eradicate" corruption in Dubai promises tougher sentences for those who abuse the public trust and swindle public money. The law, issued by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday, says individuals convicted of fraud and embezzling public funds will face five to 20 years imprisonment. But the law also allows "the immediate release" of those convicted of fraud "once they fully return the money to their lawful owners or through settlement agreements negotiated with their debtors," a government statement said.

Senior officials came out strongly in support of the new legislation, pointing out that it was part of the evolution of the emirate's legal infrastructure, which aims to protect the interests of citizens and investors in the regional trade and business hub.

While the chief of Dubai Police says the law means "there is no one above the law," the Attorney General stresses that the new legislation will boost "the control and means of auditing in government institutions."

Most importantly, the new law fills the gaps in the current codes. It is no secret that there are individuals in Dubai, actually in semi-independent entities, who have exploited the amazing growth of the economy over the past years to amass huge wealth illegally. Many have been charged in court and others are being investigated.

Those who abused their power for personal gains have not only betrayed the public trust but caused harm to the national economy. They have to be held accountable to ensure a healthy economy.

The law, in line with internationals standards, needs to be enforced to the letter and in a transparent way. By that, Dubai will enhance its attractiveness and boost investors' confidence in the ability of the judicial system to protect public and private wealth.
source: http://gulfnews.com/opinions/editorials/dubai-acts-to-wipe-out-corruptio...