H.E. Fatima Mohammed Ishaq Al Awadi, Deputy Director General of the Insurance Authority assured that UAE in shadow of the judicious leadership is presenting itself as successful developmental model in the Area and the world as a whole. She said such model managed to put UAE economy in an internationally renowned place and made it an oasis of security, safety and stability.
This press release to Al Itihad came in the occasion of the directives of H.H. Sheikh Khalifa Bin Zayed Al Nahyan, The President (May Allah Safe Him) to the Auditing Bureau to prepare draft law on Anti-Corruption.
She added that UAE already set down integrated economic, developmental and legal statuaries including those incriminating corruption and combating it as an integrated coherent system of rules to enhance the local market’s transparency and integrity and develop the economic growth and mechanisms of comprehensive development.
UAE occupied first place in the Arab world in combating corruption according to the World Bank’s report on governance index. UAE, as well, has occupied advanced positions and is progressing well according the indices of Transparency International. This assures that there are efforts in existence to combat corruption; an action gaining complete support of supreme political leadership and government.
H.E. said that the trend to prepare anti-corruption law came in the frame of the righteous leadership’s vision and the government plans to develop processes of sustainable development in UAE, enhance principles of transparency and integrity and combat corruption in addition to tightening span of corruption process in the Government sector; a sector by no means infected by corruption due to its special nature and characteristics of UAE community in addition to existence of complete series of integrated legal statuaries in this respect. Accordingly, existence of such a law is a tool is meant to prevent and not to combat standing phenomenon.
She added, “From this point, it’s sure that existence of these laws will work to enhance components of the sustainable development in UAE, increase flow of investments and ideally invest capitals in addition to enhancing elements of governance and transparency in a way that makes UAE more safe and transparent and greatly attractive for investments and for growth of the national economy components.”
She went on, “UAE economy is developed and characterized by its consistency and ability to make initiatives and cope with developments of the era, face challenges and overcome negative economic phenomenon despite the financial crisis and its negative implications on world economics storming all the world. However, UAE economic indicators maintained their strength and outbreak in such a manner that UAE economy became more robust and consistent.”
Some sources in the field of economy assured that preparation of a Federal Draft Law related to anti-corruption depicts the Insurnace Authority’s keenness to adopt finest standards of transparency and disclosure in Governmental sectors and complete the legislative system of rules needed to adopt best practices in using and managing the available financial resource. These sources said that the law will take part in enhancing growth of the Governmental and economic sectors and form robust shield and wall to prevent any attempt to take out gains and abilities from the State.
Anti-corruption Law when issued will participate in accelerating UAE classification in the corruption perceptions index issued by Transparency International and enhance its opportunity to join the list of the countries of highest transparency in the world which UAE is currently occupying therein the 28 rank worldwide according to the stimulation standards of the index.
New Zealand topped corruption perceptions index 2011, followed by Denmark second in rank, Finland third, Sweden fourth and Singapore fifth. Meanwhile, UAE occupied second rank in ME and SA and 28 rank worldwide and is stepping one step ahead of its rank last year among 183 listed countries.
UAE collected 6.8 points against 6.3 points in 2010, 6.5 points in 2009 and 5.9 points in 2008; an indicator depicting UAE improvement internationally as far as transparency and integrity are concerned.
Preparation of the draft law on Anti-Corruption in UAE will deep root the highest international levels of reputation UAE entertained in transparency among ME and SA anti-corruption group of countries of the Organization for Economic Co-operation and Development (OECD) assuring the pivotal role of UAE in supporting the international efforts to improve international environment in all aspects.