Consumer protection, insurance, UAE Central Bank

How the new Consumer Protection Regulations impact insureds

The laws around consumer protection in the UAE are continuously evolving and on 25 November 2020, the UAE Central Bank issued the Circular No 8 of 2020, Consumer Protection Regulations (Consumer Protection Regulations), which are applicable to all “Licensed Financial Institutions”. This was further supplemented by Consumer Protection Standards (Consumer Protection Standard) issued by the…

Movables Pledge Law: New Executive Regulations

Background The Federal Cabinet has recently issued Cabinet Decision No. 29/2021 regarding the Executive Regulations (the “New Executive Regulations”) for the Federal Law No. 4/2020 (the “New Movables Pledge Law”). The New Movables Pledge Law, which was promulgated last year, stated that until the issuance of New Executive Regulations, the old executive regulations (the “Old…