The Dubai Emirate has become the country’s largest city, but its real success story is not in the development of its infrastructure.
Instead, it has made it into a “money laundering hub,” according to a new study by the New York-based Institute for Policy Integrity.
Dubai is the only city in the world that has become a money laundering hub, with a rate of illicit activity that is “more than double the average for other wealthy cities,” according the report.
It finds that nearly half of the city’s revenue from tourism comes from illegal activities such as gambling, drug trafficking, and drug dealing.
The Institute for Justice (IJ) conducted an exhaustive study of the Emirati government’s business and financial records, which found that the Emirate’s total foreign assets in 2017 amounted to $9.8 billion.
The majority of the money comes from money launderers, with nearly $6.6 billion in the bank accounts of a handful of UAE government officials.
Dubay is not the only Emirati city to fall into this category.
The report says that the total amount of Emiratis living in Dubai has grown to a staggering $7.2 trillion since 2000.
Duban has become synonymous with the “Dubai phenomenon” and the city has become known as a “financial hub” because of its reputation for high level corruption.
The city’s wealth is generated by illegal activities, including the production of counterfeit currency, and the emirates foreign assets have become the most valuable assets in the country.
But Dubai is also the “home to the most vulnerable and impoverished residents of the UAE,” according an IJ report.
Many of these residents are forced to rely on food stamps and other assistance programs in order to make ends meet.
In 2016, Dubai earned the highest ranking among countries in terms of poverty in the Human Development Index by virtue of its high unemployment rate.
In 2018, the International Monetary Fund estimated that more than 1.3 million Emiratis are living in poverty, with about 10 percent of Emirati residents living in extreme poverty, according to the World Bank.
While the Emiratis government claims that Dubai is a safe environment, the report finds that it is “a money laundering center.”
Dubai has been named one of the top financial hubs in the UAE, according the IJ.
Its financial crimes and other financial offenses have attracted attention from the U.S. Treasury Department, the Department of Justice, the Securities and Exchange Commission, and other governments.
The IJ also found that a growing number of Dubai residents are fleeing to other cities in the Middle East to escape corruption.
In 2018, a record number of Emiratians fled to other Gulf countries, the most in at least 20 years.
The number of emiratis who left the UAE in 2018 was larger than in any other year.
The Emiratis have not made a concerted effort to tackle the corruption that the report blames for this exodus.
However, they have taken steps to address some of the issues it highlights.
In January 2019, the UAE’s Foreign Minister, Mohammed bin Rashid Al Maktoum, signed an agreement with the United Arab Emirates’ central bank to establish a central monitoring agency to investigate all allegations of fraud in Dubai’s financial sector.
The agreement will allow the bank to take action to tackle corruption.
A new “zero tolerance” policy for corruption was announced in 2018, and a new report published in February 2018 found that Dubai has a significant number of corruption investigations under way.
The government also has made progress in cracking down on money laundering and other criminal activity, with the UAE cracking down more than a year after its announcement of a “zero-tolerance” policy in 2017.
In February 2019, UAE Prime Minister Adel Khalifa bin Zayed Al Nahyan announced the creation of the Financial Crimes Bureau, an independent, multi-agency unit to investigate the activities of all financial institutions in the Emirates.
The unit will have the authority to investigate crimes committed in Dubai, including financial crimes.
The UAE has also been working on a new law that would give the government broad powers to tackle “illegal financial activities” by providing greater powers to the countrys national police.
These powers include the power to arrest suspects and detain them for up to 30 days.