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The United Arab Emirates, in its latest attempt to stamp out corruption in its banking sector, said on July 25 that it was investigating the Dubai Stock Exchange for a bid to boost its stock market and prevent similar activity in the Gulf. On July 26, Qatar raised a 18 billion (US29.3 billion) bid to buy the RIB Holdings PLC and another 7.09 billion (13.77 billion) of shares in the Dubai Investment Corporation, according to FAS (Finnish Business Association). But on July 30 Qatar announced it had rejected the offer. The announcement prompted a heated debate on social networks.

Qatar’s finance ministry said on July 27 that it was investigating whether it had acted as an independent market regulator. Although the statement said it is not aware of the allegations of any misconduct or wrongdoing in the Dubai Stock Exchange, FAS pointed to recent statements on the subject in its report on the Gulf. The UAE government has taken steps to increase its market authority to ensure that it can protect its financial and financial-market stability, stated the ministry in July 2016.

The ministry’s conclusion of investigation on August 4 pointed out that in the past, it was only possible to protect the financial and financial-market stability of the country by monitoring markets and by preventing illegal activity in the sector which allowed for risky bets or transactions. According to previous research, the situation was even worse in the last two years of the crisis, which led to the closure of the RIB and inefficiency in the housing industry.

The fact that the authorities have been unable to prevent fraudulent betting and illegal activity on the market has been the major issue in recent years, said Sheikh Al-Aslam, Deputy Commissioner of the Dubai City and Region Trading Corporation in June 2017. The lack of accountability on the part of these authorities is a direct result of many factors.

If it is possible to stop illegal gambling, illegal transactions and criminal activity on the market by preventing the illegal and illegal-frauding activities and by taking appropriate steps to prevent the illegal and illegal-frauding activities, the UAE government cannot afford to be left behind.

The investigation is now under way, and there is speculation that the Qatari government will attempt to take on these issues by giving more financial backing for financial institutions, especially the banks with large foreign accounts, in order to expand its role in the market. In July, Qatar purchased an American firm, CMC Financial Services Limited (CMC

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