Dubai sets up money laundering court

Dubai has established a specialised court docket centered on combating cash laundering, in a transfer to “strengthen the integrity of the monetary system”, the emirate’s media workplace mentioned on Sunday.

The UAE, house to the Center East monetary hub Dubai, has labored over the previous few years to beat a notion it’s a sizzling spot for illicit cash. In February the federal government created an Govt Workplace for Anti-Cash Laundering and Counter Terrorism Financing.

“The institution of the court docket is geared toward additional elevating the UAE’s and Dubai’s international competitiveness by reinforcing the rule of regulation and upholding the values of justice and transparency,” the media workplace mentioned.