Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE Companies Welcome Proposed FNC Amendments to Anti-Fraud Bill  Join our daily free Newsletter

MENAFN Press - 16/02/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN Press) Fake Automotive Parts Cost Lives, Says Local Industry Leader

Dubai, United Arab Emirate

Putting a spotlight on counterfeit automotive parts, leading UAE auto parts distributor A-MAP has welcomed recent proposed amendments to an anti-fraud bill expected to come into effect next year as suggested by the Federal National Council (FNC).

The proposed bill, which covers the whole country and its freezones, has been lauded by Asad Badami, managing director of A-MAP, which specialises in the distribution of aftermarket automotive spare parts, automotive batteries, tyres and lubricants, and who believes fake parts put the lives of the UAE's road users in peril

"We're pleased to see the FNC addressing the issue of fraud and counterfeiting with a firm stance. Fake parts may be cheaper, but their safety and durability are not tested, and fitting them could come at great cost to everyone's safety on the road, not just that of the driver," Badami said

"Counterfeit automotive parts could also cause significant vehicle damage, as they are built to vehicle specification, and could trigger breakdowns or worse. They typically don't last as long as genuine parts and vehicle owners will have to replace them much quicker," he added

The proposed legislation, which will replace a 35-year old federal law, will put in place far greater punishments for those who contravene it

As recently as October of last year, more than 2,000 counterfeit car parts and accessories worth more than AED 600,000 were confiscated in Al Ain, according to officials

Overall more than AED 35 million in counterfeit products were seized by the Abu Dhabi Department of Economic Development (DED) in 2013, and a recent study by the Brand Owners Protection Group suggested that car parts could account for almost 70 percent of all fake goods in the UAE, based on market value and volume.

The US Federal Trading Commission (FTC) suggests that counterfeit auto parts cost the general global automotive parts as much as USD 12 billion a year in lost sales, with about USD 1 billion of that estimated in the Middle East alone


About A-MAP
About A-MAPA-MAP specializes in the distribution of aftermarket automotive spare parts, automotive batteries, tyres, and lubricants. Headquartered in the 'bustling trading hub' of Dubai, UAE, A-MAP operates a network of branch offices in Asia, Africa, and North America. With world- leading portfolio of brand names such as Solite, Fenix, Asimco, RBI, Crown, and Strada, A-MAP has mastered supply chain management systems to deliver the ultimate in client satisfaction.For more information, please visit www.a-map.net. For Press InformationWallis Marketing Consultantsinfo@wallis-mc.com 971.4.390.1950



  MENA News Headlines
 Nov 28 2015 - Turkey revised military engagement rules in 2012The Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Turkey's rules of engagement were changed long before Tuesday’s downing of Russian aircraft when on June 22 2012Syria shot down an unarmed Turkish ...

 Nov 28 2015 - Turkey- Arrest of Turkish journalists over Syria trucks news sparks outrageThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Domestic and international press institutions and political figures have condemned the Nov. 26 arrest of daily Cumhuriyet editor-in-chief Can Dündar ...

 Nov 28 2015 - In New York a warmer reception for Syrian refugeesThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) In the wake of the terror attacks in Paris politicians and others are calling for a ban — or at least a delay — on the influx of refugees to the ...

 Nov 28 2015 - IS attacks raise odds of closer international cooperationThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) A new wave of Islamic State (IS) group terror attacks has exposed the vulnerability of countries across Europe and the Middle East forcing governments to ...

 Nov 28 2015 - UAE's international sphere inks contract with LiechtensteinMENAFN
(MENAFN) UAE based investment firm signed a business contract with the Liechtenstein Foundation for State Governance.Moreover; global sphere will organize the important approvals from African ...

 Nov 28 2015 - Saudi's National Trans and Despatch Co. gets USD 4.5mn for power projectMENAFN
(MENAFN) National Transmission and Despatch Co. Limited (NTDCL) and United Bank Limited signed a finance facility of USD 4.5mn for building a 270km transmission line.Furthermore; this investment ...

 Nov 28 2015 - Qatar fund plan gives optimism for the blindMENAFN
(MENAFN) Qatar fund plan is giving hope for millions of children suffering from blind issues, the donation worth USD 8mn.Furthermore, the joint "Qatar Creating Vision" plan will fund surgical ...

 Nov 28 2015 - Saudi- Schools to improve science educationArab News
(MENAFN - Arab News) JEDDAH: The Ministry of Education and King Abdulaziz City for Science and Technology (KACST) have signed several agreements to boost science and technology teaching at schools. ...

 Nov 28 2015 - MCI judged best e govt department in GCCArab News
(MENAFN - Arab News) RIYADH: The Ministry of Commerce and Industry (MCI) won the award for providing the Best E-Government Service among Gulf Cooperation Council countries. The award 'Best ...

 Nov 28 2015 - Saudi- Al Qaeda supporter gets 19 yearsArab News
(MENAFN - Arab News) JEDDAH: A special court has sentenced a Syrian national to 19 years in jail for supporting Al-Qaeda and other terror-related activities. The sentence includes three years for ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help