Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
UAE cracks down on money laundering, sale of dual-use items
+ -
15:21, September 10, 2007

 Related News
 Colombian woman arrested for alleged money laundering
 S. Africans warned international money laundering tool
 Anti-money laundering screws tightened
 Zambian FA official arrested
 Comment  Tell A Friend
 Print Format  Save Article
A total of 40 companies have been shut down in the United Arab Emirates (UAE) in a move to crack down on money laundering and illegal trading of strategic dual-use items, local newspaper Gulf News reported on Monday.

Those 40 companies, including both international and local ones, were proved to have been involved in money laundering and proliferation of dual use and dangerous materials banned under the Nuclear Non-Proliferation Treaty (NPT) and other UN resolutions, the report quoted Undersecretary of the Ministry of Economy Abdullah Al Saleh as saying.

"The UAE is committed to meet its obligations towards the global effort for Non-Proliferation," he said.

The UAE introduced a law at the end of August to standardize the control over the trade of military equipment and strategic domestic-military dual-use items.

The law bans the export or re-export of "strategic goods," including military equipment, chemical and biological materials and dual-use items which can be used for both domestic and military purposes without a special license.

"Non-proliferation and transparency is a global effort. It is not just the sole responsibility of one of the parties involved in a transaction but of all those in the chain. This is why international cooperation is needed," Al Saleh said.

He ruled out that any pressure to step up scrutiny of UAE's exports prompted the issuance of this law and did not give the names and owners' nationalities of those 40 companies.

Source: Xinhua



  Your Message:   Most Commented:
Discussion: China dealing with climate change
Chinese president leaves for Australia

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/6259142.pdf