Country Report: Unpopularity of Islamic Banking In Lebanon

Beirut-based Lebanese Islamic Bank started offering Shariah compliant services in 2005 by offering adequate and effective Shariah compliant alternatives to conventional banking products and services. However, ethics alone may not be enough to help the industry reach its full potential. Competing with conventional finance may prove difficult when there is no global standard in Islamic…

Banking & Finance Law

Banking & Finance Law Overview The Middle East is home to one of the fastest growing banking sectors in the world. As younger and more educated populations demand better service and ways to engage with their finances, financial institutions across the region are investing in new products and technology to try and set themselves apart.…

New Qatar Banking Law Paves Way For A Single Financial Regulator

Michael Kortbawi, Partner and Maamoon Ashraf, Associate at BSA Ahmad Bin Hezeem & Associates LLP (former Bin Shabib & Associates LLP) discuss Qatar’s new Central Bank Law and elaborate on some of the changes that have paved way for the Qatar Central Bank to act as as single financial regulator for Qatar’s insurance sector. A…

The Future of Fintech

The Future of FinTech

Join us for a special breakfast event at Dubai Expo 2020: ‘The Future of FinTech: Bridging the divide between the unbanked and traditional finance. How FinTech trends in the Middle East are transforming the industry.’ Over the course of the morning we will be discussing how FinTech trends in the Middle East are driving corporates…

Dhruv Agarwal

Dhruv is an Associate in BSA’s Corporate and M&A Practice in our DIFC office. Prior to joining BSA, Dhruv worked at a leading full-service law firm in India, where he advised clients across many industries on a range of mergers & acquisitions, corporate, commercial, competition, and regulatory matters. He also has banking and finance experience,…

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…

Taronish Mistry

Taronish is part of the Corporate and Commercial practice in our DIFC office. He is currently developing his experience in the UAE across numerous sectors including banking, restructuring, employment and real estate. In his day-to-day role Taronish is regularly involved in corporate transactions, drafting commercial agreements, and labour matters. Taronish has also formulated strategies for…

New SME Market Conduct Regulation

In late January 2021, the Small to Medium-Sized Enterprises (SME) Market Conduct Regulation (“Regulation”) was circulated to all banks and finance companies licensed by the Central Bank in the UAE (“Financial Institutions”). It comes as the UAE seeks to improve and enhance the financial services received by small and medium-sized enterprises (“SMEs”) in the UAE,…