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The United Arab Emirates (UAE) has introduced measures to deal with money laundering in the insurance sector, WAM news agency reported Sunday.
Fatima Mohammed Ishaq Al Awadhi, deputy director general of the National Insurance Authority, said the issuance of the measures is expected to curb any future money laundering activity in the sector.
She added that the measures would be applicable on all insurance companies, including foreign insurance companies operating in the UAE.
Al Awadhi underlined that the insurance companies and the professions related to them would be held accountable in case an money laundering crime is committed in their name or in the name of their firms or accounts intentionally.
Last updated on Nov 8th, 2009 at 21:09 pm IST--IANS
Prince William may delay starting full-time royal duties and continue to be with the military for much of the next decade, a media report said Monday.
Tabla virtuoso Zakir Hussain, who is out to present a picture of a new vibrant India through the music and rhythm of its diverse culture across the United States, says Americans are very respectful of Indian music and listen to it with "reverence and focus".
President Barack Obama scored a major political victory with the US Congress passing a landmark bill to provide medical coverage to tens of millions of uninsured Americans, a feat that has eluded six presidents.
A burglar remained at large Monday after fleeing from a Taipei apartment after jumping from the sixth-floor balcony and landing on a parked car.
A new study has shown that excessive noise and lack of privacy, as well as constant distraction in open plan offices can increase the stress levels of workers.
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