A review of the United Nations inquiry into the oil for food scandal, shows that around 110 UAE companies have been named in respect of Saddam Hussein's manipulation of the scheme.
The report, Manipulation of the Oil for Food Programme by the Iraqi Regime, was prepared for the UN by Paul Volcker, chairman of the panel, Richard J Goldstone, Mark Pieth and others.
The report indicates that Emirates companies, contracted to supply Iraq with humanitarian goods, paid Saddam over $100M in illegal kickbacks.
Saddam has been accused of rigging the $64BN aid programme, by demanding up to 10% of the value of contracts for both the sale of oil and the provision of goods and supplies paid for with the revenue generated.
The report documented that approximately $2BN of contracts were awarded to Emirates businesses to supply humanitarian goods to Iraq. It is alleged that over $100M was paid to the regime.
These kickbacks, according to the UN, provided "Iraq's largest source of illicit income."
According to the report, the biggest beneficiary of aid programme, was a Dubai based business founded by Saddam. Al Wasel & Babel General Trading Company obtained nearly $375M of contracts to supply a wide variety of goods including; vehicle spare parts, wood, toilet soap, tea, vegetable ghee and rice. In return it remitted $19M to Saddam.
One wonders why the UN did not monitor this aid programme in a more proactive and efficient manner?