UAE - Mubasher: Dubai Courts has established a specialised money laundering court, within the Court of First Instance and Court of Appeal, to combat financial crimes and promote the integrity of the financial system, the Dubai media office reported.
The step follows the establishment of the Executive Office of the Anti-Money Laundering & Countering the Financing of Terrorism (AML/CFT) by Sheikh Mohammed bin Rashid al Maktoum, the UAE Vice President and Prime Minister and Ruler of Dubai.
The specialised money laundering court will contribute to boosting the UAE’s global competitiveness by applying the rule of law and upholding the values of justice and transparency.
The Director-General of Dubai Courts, Taresh Al Mansouri, said: "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."
Meanwhile, the Head of Criminal Court at the Court of First Instance, Abdullah Al Shamsi, commented: "This represents another step in the development of the legislative framework and helps reinforce compliance with international anti-money laundering and law-enforcement standards."
