Comoros has sold citizenship to nearly 52,000 foreigners since 2009, the government said in the first official statement on the scale of a passports-for-cash deal with Gulf states.
Most of the documents had been sold under an approved scheme but there had been abuses that led to some Iranians buying passports, which had sparked tensions with Gulf allies, the country's foreign minister said.
Comoros struck a deal with the UAE in 2008 to sell economic citizenship to stateless Bidoon people living in the Gulf in exchange for cash for the poor Indian Ocean nation. However, the Comoros parliament is investigating complaints of corruption and procedures not being followed.
The previously undisclosed tally for the number of passports sold means Comoros — a nation of some 800,000 people — should have received more than $260 million (Dh954.9m) in revenues, a sum equivalent to over 40 per cent of its gross domestic product.
However, Comoros investigators say large amounts of cash cannot be accounted for.
A Reuters report last month detailed how some passports had been sold to foreigners outside the original accord, including people alleged to have broken sanctions on Iran.
Comoros interior minister Mohammed Daoudou said the sale of further passports and renewal of existing documents held by foreigners were on hold pending the parliamentary inquiry and investigations into sales to people outside official agreements.
The government says it has sought help from Interpol and US government investigators.
US and Interpol officials contacted not confirm whether an official request had been made.
Some Comoros and Western officials fear that the scheme was hijacked by people looking to bypass sanctions on Iran.
"The vast majority of people who secured passports [outside the official programme] are of Iranian origin or are working for Iran," foreign minister Souef Mohammed El Amine said on Friday.
"This situation has created problems for Comoros with regard to our partners in the Gulf, especially Saudi Arabia and the United Arab Emirates."
Under former president Ahmed Abdallah Mohammed Sambi, who was in power from 2006-2011, Comoros had a close relationship with Tehran. However, Moroni cut ties with Iran in early 2016 and is now an ally of Saudi Arabia.
Comoros recently cancelled 170 passports that the government said had been improperly issued to foreigners, including many people born in Iran.
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
Drivers’ championship standings after Singapore:
1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68
Williams at Wimbledon
Venus Williams - 5 titles (2000, 2001, 2005, 2007 and 2008)
Serena Williams - 7 titles (2002, 2003, 2009, 2010, 2012, 2015 and 2016)
Secret Pigeon Service: Operation Colomba, Resistance and the Struggle to Liberate Europe
Gordon Corera, Harper Collins
India squads
T20: Rohit Sharma (c), Shikhar Dhawan, KL Rahul, Sanju Samson, Shreyas Iyer, Manish Pandey, Rishabh Pant, Washington Sundar, Krunal Pandya, Yuzvendra Chahal, Rahul Chahar, Deepak Chahar, Khaleel Ahmed, Shivam Dube, Shardul Thakur
Test: Virat Kohli (c), Rohit Sharma, Mayank Agarwal, Cheteshwar Pujara, Ajinkya Rahane, Hanuma Vihari, Wriddhiman Saha (wk), Ravindra Jadeja, Ravichandran Ashwin, Kuldeep Yadav, Mohammed Shami, Umesh Yadav, Ishant Sharma, Shubman Gill, Rishabh Pant
What is an ETF?
An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.
There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.
The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.
There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.
While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash.
Strait of Hormuz
Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.
The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.
Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.
Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
The biog
Mission to Seafarers is one of the largest port-based welfare operators in the world.
It provided services to around 200 ports across 50 countries.
They also provide port chaplains to help them deliver professional welfare services.
