* Towards enhancing UAE efforts in developing the national economy for combating economic crimes and promoting sustainable development.
The Federal Judicial Council, chaired by His Excellency Abdullah Sultan bin Awad Al Nuaimi, Chairman of the Council, approved the Attorney General's proposal to establish federal prosecution offices specialized in economic crimes and money laundering, aiming at developing the judicial system to cope with the economic changes and the way to specialization, which contributes to supporting the UAE financial stability and economic growth.
The creation of specialized prosecution offices in economic crimes and money laundering is a part of the transformative projects (government accelerators) that the Ministry of Justice is currently working on in coordination with the Federal Judicial Council to improve the professional and legal performance in UAE. So, this creation represents a first stage to undertake the tasks of investigating and disposing of economic crimes and money laundering, including those that fall on economic interests such as corporate crimes, bankruptcy, regulation of competition, financial markets, intellectual property and trademarks, or that fall on the financial rights of UAE such as customs evasion crimes.
The project’s importance is embodied in protecting the national economy and reducing the effects and damages of economic and financial crimes on the economy and society, as well as advancing the economy in UAE and enhancing its competitiveness as an attractive environment for investment, in addition to improving the efficiency and quality of criminal investigations in order to achieve rapid and effective judicial justice.
UAE is intensifying its relentless and continuous efforts to reduce economic crimes and combat money laundering, taking many important steps to strengthen the legislative and legal structure that guarantees the achievement of this goal, and to protect the national economy from these crimes, thus contributing to enhancing the confidence of investors from all over the world in UAE’s safe environment and encouraging them to make UAE as a center for their business, so that this project represents an advanced step towards strengthening UAE’s efforts in combating economic crimes in order to preserve UAE’s position as a global financial and economic center.
This project is linked to the axes of ‘We the UAE 2031’ vision, specifically the axis of the global center for the new economy, on the one hand, as this project supports the achievement of economic stability and the confidence of investors and companies in the UAE economy, and on the other hand, it is linked to the axis represented by the most pioneering and superior system by the best achievements in light of the rule of law and the protection of human rights.