DUBAI CHAMBER OF COMMERCE
UAE central bank probes Gupta money laundering
Dubai, through its central bank, is looking into allegations of money laundering involving the Gupta family, says Hamad Buamim, Dubai Chamber of Commerce and Industry leader
Money laundering by the Gupta family using shelf companies in Dubai is "very unfortunate" and is being discussed "at the highest level", says Hamad Buamim, president and CEO of the Dubai Chamber of Commerce and Industry. Dubai, through the United Arab Emirates (UAE) central bank, was looking into allegations of money laundering involving the Gupta family, Buamim revealed at the chamber’s Dubai headquarters on Monday. "We look at it and we speak about it at a very high level, let me tell you this," he said, without providing further details. The chamber represents the interests of businesses operating in Dubai and has more than 200,000 members, of which about 17,500 are African companies — all of which were active, the chamber said. Leaked e-mails show how the Gupta family used Dubai shelf companies to facilitate the laundering of hundreds of millions of rand belonging to South African taxpayers. There are allegations too that the Guptas have facilitated the acquisition of a retireme...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.