Reforms to combat corruption and encourage whistleblowing in the UAE
Corruption has a detrimental effect on any economy. It creates unfair advantages, anti-competitive practices and a generally unfavorable business environment.
Not only does this dissuade potential investors investing in a country, but it also undermines the rule of law and weakens trust in public and private institutions.
In recent years, Emirati legislators have enacted several laws to fight corruption. These include laws combating money laundering, laws criminalising fronting (which is where a local resident acts as a front to allow a foreigner to undertake activities he would not otherwise be allowed to do) and others suppressing fraud in commercial transactions. There have also been several amendments to the penal code…
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