Re:How Putin’s Oligarchs Bought London
by lotsofpulp on Friday March 18, 2022 @10:09PM
(#30730231)
Do those courts help prevent the king or his brothers from torturing business partners?
If that's a non-rhetorical question no they don't because that's a criminal matter, not a commercial one that was handled in an Emirati court in 2009. But distrust as a consequence of failures of the domestic system where exactly why they bothered to built an entire parallel judicial system largely in the decade afterwards.
Re:How Putin’s Oligarchs Bought London
by lotsofpulp on Saturday March 19, 2022 @07:00AM
(#30732806)
Why would I trust the leaders of a country that make a parallel legal system to make themselves seem legitimate?
That type of judicial theater screams of corruption at the highest level.
In 2019, in DIFC, the anti-money laundering officer, whose job is to stop money laundering, was sacked on whistle blowing instead of money-laundering stopped:
https://www.bbc.com/news/business-50205956
DIFC harly has a reputable track record. While on a paper it might sound independent, in reality is it just another extension to Sheik’s tentacles. Any compliance is just lip services.
Rule of law very much exists in the UAE. So much so that they have carved out a distinct common law system (so called DIFC courts) which effectively provide English language common law as a service. This was explicitly done to make investment and commercial activity in the country attractive, and within DIFC boundaries (and IIRC at this point nation-wide) supersedes the authority of Dubai's own courts on a whole range of matters.
Those 'financial free zones' basically function like charter cities so international investors do not have to deal with the domestic Shariah law system.
https://en.wikipedia.org/wiki/DIFC_Courts