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The Institute for Ethics and Economic
Policy (IEEP) Fordham University is a renowned
Jesuit institution with over 165-year history of emphasis on ethics. |
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GULF JOURNALISTS REJECT
INTERNATIONAL PUBLIC RELATIONS ASSOCIATION “CORRUPTION” CHARGES. Journalists
and advertising professionals in the Gulf region have rejected accusations,
from the International Public Relations Association IPRA, of widespread
corruption among journalists. A recent survey of PR professionals claimed to
reveal widespread corruption among journalists around the world. George
Middleton, publisher of Bahrain This Month says readers are sophisticated
enough these days to understand that travel and entertainment features, in
particular, are generated by visits paid for by public relations firms. (Information & Technology Publishing, August 21, 2002, summary by
Sherldine Tomlinson). Corruption commission for UAE. An anti-corruption commission is to be established in the United Arab Emirates, according to a government newspaper in Abu Dhabi, following the arrest of Dubai's customs chief, the chairman of the World Customs Organisation, on corruption charges. Obaid Saqr bin-Busit, a lawer, was elected chairman of the 150-member council of the World Customs Organisation based in Brussels. He is a well-known personality in Dubai, and in July became the first person from a developing country appointed to the position. He and two top aides, identified as Ali Hassan Fouladh, customs chief at Hamriyah port, and Khalifa Ali bin Ghalidha, head of Dubai Customs Automobile Zone (DUCAMZ), are accused of amassing tens of millions of dollars through corrupt practices. (BBC , February 11, 2001, summary by Hema Kotecha). DUBAI: SENIOR CUSTOMS OFFICIALS HELD ON CORRUPTION CHARGES--Dubai's crown prince has ordered the arrest of six civil servants, including the director-general of the Ports and Customs Department, Obeid Saqr Busit, who also serves as local chairman of the World Customs Organization on corruption charges. There are three Pakistanis. The six have been under investigation for two years and authorities have retrieved tens of millions of dirhams ($1=AED3.6728) they illegally made. (Feb. 10, 2001, DJ Newswires). United Arab Emirates $76 MILLION BCCI CLAIM PAID TO LIQUIDATORS OF 20TH CENTURY´S MOST CORRUPT BANK. Liquidators of the failed Bank of Credit and Commerce International (BCCI) have received $76 million from the Sharjah emirate in the United Arab Emirates. The payment was in settlement of claims arising from loans made by the UAE branches to the government of Sharjah that were subject of litigation on England, said a statement by the UAE Central Bank. The litigation has been discontinued as a result of the settlement. In July 1991, the Bank of England discovered massive fraud on a global scale, which reached about $8 billion by the BCCI, leading to BCCI's collapse. The Abu Dhabi government took control of the bank and contributed to its liquidation and payments to creditors. (CNN News (Reuters), 11 November 2000, summary by Debbie Uy). The Index of Economic Freedom (by Driscoll-Holmes-Kirkpatrick) for 2001 places U.A.E. in the “Mostly Free” category with a rank of 19 (Ranks range from 1 for Hong Kong to 155 for North Korea, Wall Street Journal, Nov. 1, 2000). H. D. Vinod’s trimmed correlation analysis indicates that countries free from economic regulation are less corrupt. After allowing for some exceptions by 20% trimming, the correlation is near 0.9. Federated monarchy, Head of State: President Shaikh Zayed Bin Sultan Al-Nahyan |
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Design:
Theo den Brinker |
Copyright:
Hrishikesh D. Vinod 2000 |
Last
Updated: |
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