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.