The United Arab Emirates (UAE) plans to introduce its first dedicated anti-corruption law in a bid to increase transparency and fulfil international company law requirements, according to press reports.11 Jun 2012
Topics Bribery and internal investigations Corporate Regulatory Company law and corporate governance
National media aggregator Emirates 24/7 said that the new law, which will be drawn up by the company’s anti-corruption authority the State Audit Bureau, would fulfil the UAE’s commitment to the United Nations (UN) Convention against Corruption, which it signed in 2003.
“The Bureau will draw up an anti-corruption law and we urge all competent departments to join hands to ensure this law will see light and is implemented successfully,” Bureau chairman Hareb bin Saeed Al Amimi told the publication. “This law will greatly support the UAE’s efforts to fight corruption and related offences, protect public funds and better utilise national resources for comprehensive development.”