Inside the Economy of United Arab Emirates: A Haven for Money Laundering
Home to the world’s tallest skyscraper, the most desirable tourist destination, a shopper’s paradise and the criminals’ haven – the United Arab Emirates is a box of surprises. Everything about the economy of UAE speaks volumes about luxury and richness, but beneath the luster lies a dark, murky side to all the clandestine networks operating under the guise of a ‘cultural and progressive’ nation.
The Shallow Economy of United Arab Emirates
In June 2020, a drug baron from Antwerp was arrested in Dubai – the financial and tourism hub of UAE. The 32-year-old drug lord, Nordin EH aka “Dikke Nordin” was caught in connection in the case of trafficking cocaine. However, the prosecutor’s office in Antwerp believe that he could have other offenses – possibly violent acts committed in and around Antwerp – trailing behind him.
This was officially the first time that the authorities from Antwerp were able to arrest an offender wanted in their country, from Dubai, as stated by the Federal Prosecutor’s Office. However, several such people, entities and networks still operate covertly in the emirates highlighting not only the extent of Dubai corruption, but also how reliant the Dubai economy is on such activities.
Nordin was part of an international trafficking ring of cocaine and a key suspected figure in police investigations being carried out on the network. It is believed that Nordin or “Dikke” ran his UAE drug trafficking routes for years. Following which his name appeared in attacking some of his rivals, and some of these operations were devised and executed from Dubai. These events included, the several grenade attacks carried out around the Flemish city dating back to 2017.
The economy of United Arab Emirates and cases of Dubai money laundering grew simultaneously. What seemed like an economic boom was actually money laundered through illicit channels into property and other sectors, contributing to the economy of UAE. Meanwhile, drug lords like Nordin ran drug gangs, invested and sheltered in the City of Gold, hiding their own dark treasures and boosting the economy of United Arab Emirates.
From money laundering to drug trafficking, the UAE money laundering network is as deep and complicated as it gets. The gulf nation is a Disneyland of criminals and drug mafias. However, everything that glitters isn’t gold, and so isn’t the very home to the City of Gold – Dubai.
