Dubai Courts sets up specialised money laundering court to combat financial crimes

Move further raises the UAE's and Dubai's global competitiveness by reinforcing the rule of law and upholding the values of justice and transparency

  
Dubai Courts sets up specialised money laundering court to combat financial crimes

New court will support Dubai’s efforts to tackle financial crimes

Government of Dubai Media Office: Dubai Courts today announced the establishment of a specialised court, focused on combating money laundering, within the Court of First Instance and Court of Appeal.

The move, which seeks to strengthen the integrity of the financial system, follows the establishment of the Executive Office of the Anti-Money Laundering & Countering the Financing of Terrorism (AML/CFT) to oversee the implementation of the UAE’s National AML/CFT Strategy and National Action Plan (NAP). The Executive Office reports to the UAE’s Higher Committee overseeing the implementation of the country’s National AML/CFT Strategy chaired by Minister of Foreign Affairs and International Cooperation HH Sheikh Abdullah bin Zayed Al Nahyan.

The establishment of the court is aimed at further raising the UAE’s and Dubai’s global competitiveness by reinforcing the rule of law and upholding the values of justice and transparency. The new court will support Dubai’s efforts to tackle financial crimes, including money laundering, as part of the UAE’s wider endeavour to combat crime.

HE Taresh Al Mansouri, Director General of Dubai Courts, said that setting up a court for money laundering in the Court of First Instance and the Court of Appeal is part of Dubai Courts’ commitment to improve judicial efficiency and promote excellence in the administration of justice.

“This move will enable our stakeholders to raise their efficiency in effectively implementing the National AML/CFT Strategy and National Action Plan and achieving its goals through an empowered and sustainable system,” said Al Mansouri.

The new specialised court will strengthen the UAE's efforts to bring financial criminals to justice. It also represents another step in the development of the legislative framework and helps reinforce compliance with international anti-money laundering and law-enforcement standards.

Dubai Courts is constantly working to improve the administration of justice by expediting trials, which allows defendants to submit their defence and courts to issue rulings speedily. Police and customs agencies in the UAE are playing a key role in combating money laundering and referring offenders to the public prosecutor's office for investigation. When there is strong evidence of a crime, cases are transferred to the court, which provides all parties a fair trial before pronouncing its ruling.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases