UAE Bribery

Surveys come out on all sorts of things. And people don't like it when they come bottom. It didn't quite happen for the UAE but they didn't do very well with the Corruption Perception survey. Essentially this refers to bribery.

From the National:

Companies in Russia are the most likely to pay bribes when doing business abroad, according to a list released by anti-corruption group Transparency International (TI). China, Mexico and Indonesia follow closely behind, with UAE and Argentina tied next and then Saudi Arabia just right after. Firms from Russia and China have collectively invested $120 billion overseas in 2010. The survey interviewed 3,000 business executives and looked at 28 leading export countries and territories, which account for 78 percent of the total outflow of goods, services and investment worldwide.



What's the impact of this? Sometimes nothing - but with laws around the world changing, the impact could be drastic. The recent UK Bribery Act is one such example.

UK Law Firm, Fortune Law, advises that the law has far reaching consequences. One such offence:

The offence of bribing a foreign public official is in itself an international offence

Fortune Law can offer advice on such matters, for UAE firms operating in the UK to help prevent such issues and also to advise about this new act.

UK Bribery Act 2010 - Advisory by Fortune Law
Fortune Law
UAE companies debut with 5th place in bribery global survey