Pandora Paper List in United Arab Emirates - Prime Minister Mohammed bin Rashid Al Maktoum - Ruler of Dubai

  

United Arab Emirates - Prime Minister Mohammed bin Rashid Al Maktoum

About

Mohammed bin Rashid Al Maktoum has been one of the most prominent figures in Middle East politics since he became ruler of Dubai, and prime minister and vice president of the United Arab Emirates, in 2006. His main mission as Dubai’s leader has been to transform this emirate into a business hub and tourist destination.

A billionaire businessman, he is the majority stakeholder of two investment conglomerates, Dubai World and Dubai Holding LLC. Sheikh Mohammed owns luxury properties across Europe via his offshore companies in tax havens. A 2021 investigation by The Guardian and Transparency International found that he is one of the United Kingdom’s largest landowners.

In recent years, Sheikh Mohammed has made headlines for having disputes with two of his daughters and his youngest wife, Princess Haya bint al Hussein. In 2020, a London court ruled that he had orchestrated the international abductions, forced return to Dubai and torture of his daughters Latifa and Shamsa. Princess Latifa disappeared from public view in 2018, and United Nations human rights experts publicly called on the UAE to produce “proof of life” in April 2021. Two months later, she was reportedly photographed outside the Emirates with a friend and a public statement issued in her name declared that she now travels freely. The same London court also ruled that Princess Haya, his sixth wife, endured a campaign of harassment by Sheikh Mohammed. She had escaped to England in April 2019 with her two children.  In several statements filed in U.K. courts, Sheikh Mohammed denied allegations of wrongdoing. As for his wife’s case, “I do not accept that Princess Haya is in any danger”, he stated. Regarding his daughter Latifa, “we feared that our daughter was in the hands of a criminal who might hold her to ransom and harm her. To this day I consider that Latifa’s return to Dubai was a rescue mission,” Sheikh Mohammed alleged. As to Shamsa, “her mother and I were extremely worried about her safety and wellbeing”, so “I emphasise that her mother and I jointly decided to organise a search for her,” the Dubai ruler asserted.

Political Career

• Vice president of the United Arab Emirates (2006-current)
• prime minister of the UAE (2006-current)
• ruler of Dubai (2006-current)
• defence minister of the UAE (1971-current)

Leaked Details in the Pandora Papers

The Pandora Papers show that Sheikh Mohammed was a shareholder of three companies registered in secrecy jurisdictions via the Emirati company Axiom Limited, which was partly owned by his investing conglomerate Dubai Holding. All three companies — Tandem Investco Limited and Tandem DirectorCo Limited of the British Virgin Islands, and Allied International Investments Limited of the Bahamas — were created in 2008. The companies were used to internationally expand the core business of its parent company Axiom Limited, a mobile phone manufacturer and retailer.The Bahaman company is currently suspended but not liquidated, while the other two were already closed.

The Pandora Papers also show that Emirati cyber technology business leader Faisal al-Bannai served as sole director of Sheikh Mohammed's two BVI companies since 2011. Al-Bannai was also a shareholder of Axiom Limited. A 2019 Reuters investigation showed that DarkMatter worked closely with the UAE government in advancing controversial surveillance efforts, including spying on American citizens with the aid of former U.S. intelligence operatives. Al-Bannai acknowledges DarkMatter's close relationship with the UAE government, but has denied that it has engaged in state backed hacking programs

Sheikh Mohammed and Faisal al-Bannai did not respond to ICIJ’s repeated requests for comment.

Secrecy Broker

At the heart of the Pandora Papers are 14 offshore firms that help clients establish companies in secrecy jurisdictions. This profile draws on leaked data from these providers:

1. Trident Trust

Trident Trust is one of the world’s largest offshore providers. It is linked to nearly 100 politicians and public officials identified in the Pandora Papers. Here are some of the top political figures involved.