Dubai scandals may lead to improved corporate governance

CFA Institute Financial NewsBrief | 09/22/2008

Corruption scandals in Dubai, United Arab Emirates, may have sparked a large-scale government crusade against misbehavior in the corporate sector, as more 12 executives — including those from several prominent firms and a federal minister — were detained in August and September. The office of Dubai leader Sheikh Mohammed bin Rashid al-Maktoum issued a rare public statement that “there will be no tolerance shown to anybody who tries to exploit his position to make illegal profits.” Economist, The (09/18)

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