By Dylan Bowman
Dubai has launched crackdown on corporate corruption. What impact will it have on emirate's economy?
Dubai has launched a crackdown on corporate corruption, with several high-profile figures questioned in the last few months. What impact do you think this will have on the emirate's economy?
I think this is not good but excellent that there are investigations regarding fraud and bribing. It will give more confidence to the Dubai market and secure the investors that after all and finally there is some justice going on in this country. It is good the law is now in force and they should do so much more. Dubai deserve to be a wonderful place to live without so much hardship. Dubai has already succeeded with Emirates being one of the best airlines in the world in terms of security, destinations, services, so let's hope now for Dubai and its way of life, therefore one has to clean up the ones who are not acting as they should, this will set an example for the others who are not caught.
Those that are surprised by this are 'green'. It is typical of all 'gold rush' markets that typify the real estate market in Dubai over recent years. What is surprising is that it allegedly involves UAE nationals, who surely do not need the money. The expectation would have been that 'cut and run' expatriate executives would have been most involved. That it does not raises many unanswered questions about just how deep the corruption has gone.
Transparency and fighting corruption will boost credibility among investors. So well done to Dubai government for taking serious action against all traitors!
Now the focus is only on top-level, Government have to expand the investigation in each and every section in depth. So crackdown everyone in each and every corner, do a proper auditing on all the PUBLIC firms, and control the private ones. Many expatriates are seeing the emirates as sugarcane and squeezing it for their own benefits only, even with HIDDEN agendas. They speak GOOD about the emirates in public and screw behind. Listen all EXPATS!, This is our second HOME land. This land is feeding millions of lives! Show some honesty, respect and commitment towards this country too.
How can you talk about justice and rule of law when there are amnesties a few times a year - twice this month many are freed by our rulers......justice isnt blind...WE SEEM TO BE..
Hats off to the wise decision of the rulers of Dubai region to run such extensive investigations. I would also suggest to raise standards, it maybe useful to permit the expat business people and others to place formal complaints against the so called Big Shot Directors of Public companies and organizations who push their weight around based on their authority. All should be treated equally and no one should have any kind of Immunity. This would result in a completely transparent society - which we can trust and grow with. we love Dubai!
What we are seeing is a white wash. The problems are much deeper exacerbated by ill defined laws and ad hoc measures, whish do more harm than good.