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Abu Dhabi Police busts car scam ring

The Abu Dhabi Police has busted a car scam syndicate with the arrest of the criminal gang’s 54 members, who allegedly defrauded investors of up to Dh1.3 billion.

UAE anticipates growth in insurance sector

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The UAE is working to improve the state of insurance sector in country, in anticipation of the sector’s growth over the coming period.

The Committee on Financial, Economic and Industrial Affairs of the Federal National Council has discussed a draft federal law on the regulation of UAE Insurance Authority.

The report said the move seeks to boost the organization of the insurance market and to address the needs that would come along with the predicted market growth.

The FNC committee reviewed provisions of a law to amend some articles under the 2017 Federal Law No. 6 on the Insurance Authority and regulation of its operations.

“The rapid urban growth taking place in the UAE has reflected positively on the insurance sector as insurance premium rates increased in number and volumes, which necessitates a more robust legislative base to accommodate new developments and to ensure more resilience for this significant sector,” said Salim Abdullah Al Shamsi, head of the committee.

Credit: Dan Sullivan Insurance

Abu Dhabi Police busts car scam ring

The Abu Dhabi Police has busted a car scam syndicate with the arrest of the criminal gang’s 54 members, who allegedly defrauded investors of up to Dh1.3 billion.

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