TI Claims Dubai is Money Laundering Paradise

Though United Arab Emirates (UAE) is one of the best rated country in the Middle East and North Africa region when it comes to corruption. In the 2018 Corruption Perceptions Index it is ranked 23 out of 180 countries. It scored 70 points. It is closely followed by its neighbor and regional rival Qatar, which is ranked 33 overall, with 62 points. The index scores countries on a scale from  zero to 100, where zero is highly corrupt and 100 is very clean. The best rated country overall is Denmark with a score of 88 points. However, Dubai which is one of the Emirates of UAE is claimed to have become the paradise for Money Launderers.

While the UAE and Qatar score higher on the index than other countries in the region, this is largely due to their levels of economic and social development, says Transparency International. Both countries have relatively efficient public bureaucracies, high GDP levels and good health and education systems. In Dubai, you can buy the real estates in cash and there would be very few questions asked. The value of real estate could be enormous. All the dirty money from across the countries is finding its way in the land of Dubai to buy the real estate.