UAE anti money laundering Regulations

AML Regulations and the Impact on the Insurance Industry

In association with Premium Insurance Magazine, BSA will be hosting a webinar discussing ‘Anti-money laundering (AML) regulations and the impact on the insurance industry’. This comes as the UAE Central Bank has issued new guidelines as part of a joint effort between the Supervisory Authorities of the UAE, regarding factors that must be taken into consideration by…

UAE healthcare and trust law

The Concept of Healthcare / Medical Trust

The following article was originally published for BSA in Premium Insurance Magazine: The Concept of Healthcare/Medical Trust   Can Medical Insurers offer new product structures to gain market share? Health Insurance is by far the largest line of risk, alongside motor insurance in the Middle East. Both lines of insurance tend to be mandatory in several…

Recent Legal Developments in Business Interruption Insurance – Coverage Issues and Wider Implications perhaps for the Middle East

The English High Court has recently handed down a judgement in a test case related to “Business Interruption” insurance in the context of the COVID19 pandemic, which provides an interesting angle in respect of coverage issues and general English law [insurance] contract interpretation. The Financial Conduct Authority v Arch and Others[1] essentially addressed the legal…

Brief on the new UAE Cabinet Decision No 58/2020 on the Regulation of the Procedures of Real Beneficiary

UAE Cabinet Decision No. 58 / 2020 is to be implemented to regulate the minimum obligations of the corporate entities incorporated in the UAE mainland and in the non-financial free zones (each an “Entity”) by requiring disclosure at the initial incorporation/registration stage, and maintenance thereafter, of a “Register of Real Beneficiaries” and “Register of Partners or…

What kind of Legal Protection do Employees have against Salary Cuts and Redundancy in the UAE?

What kind of legal protection against salary cuts and redundancy is afforded to employees in the UAE? The Ministry of Human Resources and Emiratisation (‘MOHRE’) has issued, on 26 March 2020, Ministerial Resolution no. 279 of 2020 (the ‘Resolution’) to help employers cope with the hardships arising from the COVID-19 outbreak. The Resolution enables private…