New proposals would raise the capital requirements for the largest and most important banks by 9%, down from 19%
Six members of the gang from various Arab countries, all in their thirties, were arrested from Dubai on Sunday. They were found to be possessing four vehicles of BMW, Mercedes and Prado brands of Dubai at the time, the police said.
During interrogation, the gang members confessed that they had lifted a number of cars from various emirates and forged their papers to transport them outside the country through the borders.
Major Abdullah Saif Al Matroushi, Head of Criminal Investigation Department (CID) at Ajman Police, said following a complaint of a missing car, the department launched an investigation. The main member of the gang was arrested from Dubai. He gave information about the other members during interrogation.
New proposals would raise the capital requirements for the largest and most important banks by 9%, down from 19%
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