Dubai sets up specialized money laundering tribunal to fight financial crimes


The courts in Dubai announced on Sunday the creation of a specialized tribunal, focused on the fight against money laundering, within the court of first instance and the court of appeal.
Image Credit: Clint Egbert / Gulf News

Dubai: Under the direction of His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, the courts of Dubai announced on Sunday the creation of a specialized court, focused on the fight against money laundering, within the Court of First Instance and Court of Appeal.

The move, which is in line with the vision of UAE leaders to strengthen the integrity of the financial system, follows the creation of the Executive Office to Combat Money Laundering and the Financing of Terrorism (AML / CFT ) by Sheikh Mohammed to oversee the implementation of the National AML / CFT Strategy and the National Action Plan (NAP) of the United Arab Emirates. The Executive Office reports to the United Arab Emirates Senior Committee overseeing the implementation of the country’s national AML / CFT strategy, chaired by the Minister of Foreign Affairs and International Cooperation, Sheikh Abdullah Bin Zayed Al Nahyan.

The establishment of the court aims to further increase the global competitiveness of the United Arab Emirates and Dubai by strengthening 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 broader effort to tackle crime.

Taresh Al Mansouri, Director General of Dubai Courts, said setting up a money laundering tribunal within the Magistrates ‘Court and the Court of Appeal is part of the courts’ commitment of Dubai to improve judicial efficiency and promote excellence in the administration of justice.

“This decision will allow our stakeholders to increase their efficiency in the effective implementation of the national AML / CFT strategy and the national action plan and to achieve its objectives through an autonomous and sustainable system”, said Al Mansouri.

“Reporting money laundering offenses is both an individual and a collective responsibility. Society plays a vital role in safeguarding economic and social security and strengthening the efforts of various stakeholders to respond to such crimes, ”Al Mansouri added.

Judge Dr Abdullah Al Shamsi, head of the trial court’s criminal court, said the new specialized tribunal bolsters the UAE’s efforts to bring financial criminals to justice. “This represents a new step in the development of the legislative framework and helps to strengthen compliance with international anti-money laundering and law enforcement standards,” he added.

Dr Al Shamsi said the courts in Dubai are constantly striving to improve the administration of justice by speeding up trials, which allows defendants to present their defense and courts to render decisions swiftly.

Judge Dr. Saeed Al-Shaali, Judge of the Dubai Courts Criminal Court, commended the efforts of UAE police and customs in combating money laundering and referring offenders to the prosecutor’s office for investigation. If there is strong evidence of a crime, the case will be transferred to court, which will offer all parties a fair trial before rendering its decision, he said.

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