The UAE Public Prosecution has warned that price manipulation constitutes a criminal offence under national competition law, reinforcing its commitment to fair markets and consumer protection.
UAE Public Prosecution has warned that price manipulation is a criminal offence under UAE law, not a legitimate business practice, underscoring the country’s commitment to fair competition and consumer protection.
In a statement posted on its official social media channels, the Public Prosecution said economic activity in the United Arab Emirates operates under a free-market system governed by the rule of law, which prohibits practices that distort competition or harm consumers and economic development.
It cited Federal Decree-Law No. 36 of 2023 on the Regulation of Competition, which prohibits monopolistic behavior, anti-competitive agreements, and abuse of dominant market positions to ensure a fair and sustainable business environment.
The Public Prosecution emphasized its role in protecting the national economy by investigating economic crimes and enforcing legal provisions that maintain market balance and safeguard consumer rights.
It also noted that coordination among government agencies remains crucial in addressing violations and ensuring stable, fair, and competitive markets.
Source: The Filipino Times
