Financial Regulatory Forum

Dubai panel to settle Tamweel, Amlak disputes

December 30, 2009

By Tamara Walid

DUBAI, Dec. 30 (Reuters) – Dubai has set up a panel to protect the creditors of troubled mortgage lenders Amlak and Tamweel, whose long-planned merger is slated for early 2010, in a bid to boost transparency.

Dubai takes new steps to clamp down on corruption

December 30, 2009

DUBAI, Dec 29 (Reuters) – Dubai’s ruler announced a new law to combat corruption, with the power to impose prison terms of up to 20 years on offenders as the emirate tightens financial rules in the wake of a debt crisis.