Abstract The UAE Netting Law, Federal Decree-Law No. 10/2018 was issued on 20 September 2018. Its provisions will apply to all Qualified Financial Contracts and Netting Agreements specified under the law, which are entered into by any person in the UAE. The law seeks to strengthen the legislative framework for the settlement of Qualified Financial…
The new insurance law has made it easier for insurers to issue policies in a foreign language, thus expanding their business opportunities, but there are downsides when it comes to insurance disputes, says Francois Chemaly, Head of Corporate at BSA Abu Dhabi. Insurance is an important sector that contributes to the stimulation of the United…
Overview The article examines the material legal process involved when undertaking a corporate acquisition transaction in Saudi Arabia (Acquisition Transaction). The general process an Acquisition Transaction undergoes shares several similarities with similar types of transactions in other jurisdictions. Notwithstanding, the prevalent regulations and overriding legal system unique to KSA must be taken into consideration and…
It all started when Federal Law No.2 of 2015 was enacted, amending the legal regime that governs local and foreign companies under Federal Law No.4 of 1984. These changes have impacted on several corporate practices including the governance of private and public companies, their legal structure, dissolution, liquidation, mergers and acquisitions, and applicable penalties. As…
On 04 April 2018, the Minister of Human Resources and Emiratization issued a groundbreaking Ministerial Decision No. 212 of 2018 on the regulations relating to the employment of UAE nationals in the private sector. This decision replaced Ministerial Decision No. 293 of 2015 which set the rules and procedures for the employment of UAE nationals…
The Chairman of the Abu Dhabi Judicial Department, H.H Mansour Bin Zayed Al Nahyan issued Decision No.25 (the “Decision”) on the 27th of September 2018 to regulate tenancy committees, disputes and procedures in the Emirate. The purpose of the Decision is to expedite tenancy dispute proceedings and to provide speedy resolutions: Under the Decision, the…
The Legal 500 & The In-House Lawyer Comparative Legal Guide UAE: Fintech This country-specific Q&A provides an overview to Fintech law in UAE. It will cover open banking, regulation of data, cryptocurrencies, blockchain, AI and insurtech. This Q&A is part of the global guide to Fintech and was contributed to by Nadim Bardawil and Tala Azar Read full…
The Legal 500 & The In-House Lawyer Comparative Legal Guide UAE: Arbitration This country-specific Q&A provides an overview of the legal framework and key issues surrounding arbitration law in United Arab Emirates . This Q&A, written by Partner, Antonios Dimitracopoulos, is part of the global guide to Arbitration. Read the full chapter here
Introduction Real property development in the United Arab Emirates (“UAE”) is often undertaken on a joint venture basis. The reasons are not dissimilar to other jurisdictions, and include the sharing of risk, specific development expertise, ownership restrictions of the real property and the increase in public private partnerships. It is vital that the joint development…
Earlier this year Saudi Arabia issued a historic new Bankruptcy Law (Saudi Arabia Royal Decree No. M5/1439 and Saudi Arabia Cabinet Decision No. 264/1439), the Kingdom’s Council of Ministers has adopted the new law’s Implementing Regulations in Saudi Arabia Cabinet Decision No. 622/1439 which was published in the Official Gazette, Issue 4744 on September 4,…
