UAE warns price manipulation is a criminal offence, not business
المصدر: Gulf News | Source: Gulf NewsAbu Dhabi: The UAE Public Prosecution has warned that price manipulation constitutes a criminal offence under UAE law, not a legitimate commercial practice, stressing that the UAE is commited to fair competition and consumer protection.
In a statement published on its social media channels, the Public Prosecution said economic activity in the UAE operates within a free-market framework governed by the rule of law, without practices that distort competition or harm consumers and development.
Get updated faster and for FREE: Download the Gulf News app now - simply click here.It cited Federal Decree-Law No. 36 of 2023, which regulates competition and prohibits monopolistic behaviour, anti-competitive agreements and the abuse of dominant market positions, ensuring a fair, competitive and sustainable economic environment.
The Public Prosecution said it plays a key role in safeguarding the national economy by investigating economic crimes and enforcing the provisions of the law, helping maintain market balance and protect consumer rights.
It added that coordination among government entities helps tackle violations and keep markets fair and stable.
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