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Bin Sulaiman in financial crime probe – report

Former DIFC boss arrested by state security over alleged financial crime.

It has been reported that Omar Bin Sulaiman, the former governor of the Dubai International Financial Centre, is being questioned by state security as part of an investigation into alleged financial crime.

The Zawya Dow Jones newswire quoted sources familiar with the situation as saying that no charges have yet been laid against Bin Sulaiman. Nor has the investigation yet been referred to prosecutors.

The DIFC and public prosecution officials refused to comment, the newswire said.

Bin Sulaiman was replaced at the DIFC by Ahmed Humaid Al Tayer in November last year.

Earlier on Wednesday, Dubai daily Gulf News reported that a former DIFC official with initials O.S. was being held by authorities for alleged involvement with “financial irregularities” amounting to around AED50m ($13.6m).

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More Dubai corruption cases set for court soon

Attorney General says probe into ex-DIFC chief will be ‘completely transparent’.

Dubai’s attorney general has said that the questioning of the former head of Dubai International Financial Centre over alleged financial irregularities would be conducted in “complete transparency”.

Issam Issa Al Humaiden confirmed the probe into allegations of embezzlement of former DIFC governor Dr Omar Bin Sulaiman, adding that further “similar cases” would soon be referred to the courts as part of the emirate’s fight against corruption.

In a statement published by news agency WAM, the Media Office of Dubai Government said Sulaiman was being questioned about the “irregularities believed to have taken place during his tenure”, adding that he was accused of abusing his authority for profiting from public funds.

Following an investigation conducted by Ismael Madani, head of the Public Funds Prosecution, the Public Prosecution ordered his detention pending further investigation.

The investigation alleged that as governor of the DIFC, Sulaiman had illegally diverted funds amounting to AED50 million to his own account as “performance bonuses”.

Al Humaidan said: “The questioning of former DIFC governor is conducted with complete transparency and keenness to fight corruption, to protect public funds and to maintain integrity of public office.”

Al Humaidan added that the investigation followed a report by concerned regulatory authorities.

He also said a number of similar cases would soon be referred by the Public Prosecution to the courts.

Bin Sulaiman, who held a number of other high profile positions, was abruptly removed from his post as governor of the DIFC in November, to be replaced by Ahmed Humaid al-Tayer.

The decision by Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum to appoint al-Tayer was part of efforts to “improve performance in Dubai government and semi-governmental departments” and to boost the emirate’s position as a global financial, trade and tourism centre.

Dubai’s government set up the DIFC in 2002 in a bid to turn the regional trading and tourism hub into a world financial centre on a par with Singapore and Frankfurt.

In September, it was reported that a special taskforce had been set up to investigate corruption in Dubai.

Sheikh Mohammed bin Rashid Al Maktoum, vice president of the UAE and Ruler of Dubai, ordered the Dubai Public Prosecution office to establish the unit to investigate fraud.

Several senior executives have been detained while companies caught up in the corruption probe include Tamweel, Nakheel, Istithmar World, Dubai Islamic Bank and Sama Dubai.