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Approximately 12 hours after the incident, the actor has taken to Instagram to share an emotional and heartfelt post with the public
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FNC Calls for Enacting Law to Stamp Out Bogus Funds
ABU DHABI - The Federal National Council (FNC) called on Saturday for a law to punish those who establish fictitious investment funds.
Depositors should also not be spared, the Council said.
The FNC is due to discuss the issue in its next session on Tuesday.
The first Deputy Speaker of the Council, Ahmed bin Shabib Al Dhahiri, speaking to Khaleej Times, said: “Recommendations would soon be drawn up, including new legislations to curb the trend.”
He added: “The proposed statute should contain strict punishments against all parties involved in fictitious funds, even the depositors.
“Although depositors may lose their money as a result of being co-partners in the crime, the huge amounts deposited by the said shareholders, and their greed for making big and unreasonable profits, have helped start bogus funds in our society.”
The legislation would also enable the proper registration of trade companies by which their activities can be monitored. Al Dhahiri said: “The house will also discuss the impact of the global financial crisis on the banking system in the country.”
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