Michael Kortbawi, Partner at BSA Ahmad Bin Hezeem & Associates LLP discusses the Tax regime in the UAE. There are no federal tax legislation in the United Arab Emirates (hereinafter referred UAE). However, we find the following emirates: Abu Dhabi, Dubai and Sharjah, legislation establishing a tax system generally companies, including: • The tax on…
New Memorandum Of Guidance On Reciprocal Enforceability of Judgments Enhances Trade And Investment Links Between UK and Dubai promoting DIFC Courts as Leader in International Commercial Dispute Resolution. 23 January 2013 the Dubai International Finance Centre Courts (DIFC Courts) and the English Commercial Court of the Queen’s Bench Division, England and Wales (Commercial Court) signed…
How can project and infrastructure finance help develop the Islamic finance industry? Which region is currently undergoing progress in this sector and which Islamic banks are the most involved? Ahmad Waheed explores the issues and challenges faced by investors and Islamic banks in the sector. The Middle East and Southeast Asia are the main focus…
Bancassurance allows banks to sell insurance policies of insurers they have partnered with and is one of the many means of alternative distribution methods adopted by GCC insurance companies. Although the usage of bancassurance in the GCC region is still on the low end, significant growth for this sector is expected as stakeholders begin to…
In a region that places an unusually high level of importance on procedure, lifting dispute resolution clauses from dusty contracts where they have been hibernating in silence and never tested in practice, has so far proven to be not the wisest way to save on legal fees. Many have had their fingers burned in the…
As the abundance of disputes in the UAE continues to mount, following the property crisis that hit Dubai in 2008, everyone involved rummages through their contracts to look for the clause that no one paid much attention to during the good days, with a view to sharpen their claws and get ready for battle. But…
There has been much speculation about the release of the new draft Investor Protection, which aims to codify the relationship between investors and developers. Mamoon Ashraf, corporate associate and Jimmy Haoula, Managing Partner at BSA Ahmad Bin Hezeem & Associates LLP (Former Bin Shabib and Associates (BSA) LLP) consider the proposed changes aiming to provide…
Mamoon Ashraf, corporate associate, BSA Ahmad Bin Hezeem & Associates LLP (former Bin Shabib and Associates (BSA) LLP) provides an overview and comparison of the key provisions of the UAE insolvency regime with the equivalent provisions established in the regime of England and Wales. He also examines the unique features of the proposed UAE federal…
