New law to protect Dubai economy from financial risks and crimes

Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in his capacity as Ruler of Dubai issued Law No (4) of 2016 on the Dubai Economic Security Centre.

The centre aims to maintain Dubai’s position as a global financial and economic hub, ensure its financial stability and protect its investments from crimes that may harm its economy.

The new law seeks to ensure the proper implementation of international best practices in Dubai’s financial markets, protect investors from risks, combat illegal and harmful activities, and predict and manage risks and negative economic trends that can jeopardise the stability of the market and the national economy.

The new law will enhance investors’ trust in Dubai’s financial markets and encourage them to use Dubai as a hub for their businesses, contribute to ensuring the integrity of procedures related to financial operations, and encourage market players to actively combat activities that can affect economic security and increase awareness about threats that such activities might pose.

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Source: gulfnews.com