UAE raised the limit of undeclared cash import

UAE government has raised the limit of undeclared cash travelers can brought in the country to AED 100,000 from previous value of AED 40,000.

The raise of 2.5 times is done to curb money laundering activity. Now, stop laughing, please.

Clearly, this has been done to facilitate the transfer of money from trouble Middle East and Africa as well as the investors fleeing from recession infested Europe.

Ironically, if you want to take your funds out from UAE, you have to go through a lengthy process of cross-questions and form-fillings.

The rule will come into effect on September 1, 2011.