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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Abu Dhabi to create financial watchdog

Posted on 22 December 2008

From Indiatimes.com: The Gulf Arab emirate of Abu Dhabi said on Saturday that it would create a state auditing unit that would look into the management of state funds and firms in which it owns more than a 50 per cent stake. Abu Dhabi, one of seven members of the United Arab Emirates, has the world’s largest sovereign wealth fund and is a shareholder in several local firms.

Among the goals of the watchdog is “increasing accountability and transparency in entities that fall under its jurisdiction”, according to a law creating the body cited by the official WAM news agency. …. Full Article: Source


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