DUBAI: Prosecutors in Dubai said yesterday fighting corruption was a top priority for the Gulf business hub and pledged a zero-tolerance policy on violations.
Police probes have been launched this year into alleged financial irregularities involving employees of companies affiliated with the government of the booming emirate.
“There will be no immunity for any official who abuses his position to make illicit gains,” the official WAM news agency quoted an unnamed senior prosecution official as saying. “The government of Dubai has affirmed it stands resolutely against all forms of corruption, bribery and illegal gains in public and private sector institutions.”
The high-profile cases have attracted widespread local media coverage and threaten to mar the image of some businesses in Dubai, part of the seven-member United Arab Emirates federation.
The official said results of the investigations would be announced to the public once concluded, WAM reported.
“The government of Dubai follows a policy of transparency toward these cases, and there are strict directives that there should be no leniency for all forms of corruption,” he said. “The government will continue, upon directives from superior authorities, to adopt a firm stance against all forms of corruption and will take legal measures against violators. Fighting corruption is among the government’s top priorities.”
Dubai’s government has launched a campaign to crack down on corruption in public and private real estate and financial firms, a newspaper reported yesterday.
Mortgage lender Tamweel’s former chief executive and head of investments are under investigation for alleged wrongdoing, Istithmar World, a unit of state-owned Dubai World, said on Thursday. Tamweel shares closed down 4.1 percent extending a more than 20 percent decline this month
Nakheel, the government-owned developer of manmade islands in the shape of palm trees, said on Friday one of its employees was under investigation on suspicion of bribe-taking.
Earlier this year, investigations began into alleged irregularities by executives at Dubai Islamic Bank, the biggest Islamic bank in the emirate by market value, and its affiliate real estate firm Deyaar.
