UAE Introduces Unemployment Insurance UAE Minister of Human Resources and Emiratisation, His Excellency Dr. Abdulrahman Abdulmannan Al Awar has announced implementation of a new unemployment insurance scheme effective from early 2023 (“Scheme”), to provide a safety net for those who face termination from their work. The scheme aims to offer financial support to those [...]
ADGM ARBITRATION CENTRE & Amendments to the Arbitration Regulations Introduction to the ADGM Arbitration Centre The Abu Dhabi Global Market (‘ADGM’) launched its arbitration centre on 17 October 2018. The ADGM arbitration centre is fully operational and equipped with excellent facilities for conducting hearing(s) that are made available to parties resolving their disputes through [...]
Introduction of Corporate Tax in the United Arab Emirates The United Arab Emirates (UAE) Ministry of Finance (MoF) announced on 31 January 2022 that a federal corporate tax regime is being introduced for the first time in the UAE. A federal corporate tax law is expected to be issued soon along with executive regulations [...]
UAE - A Reciprocating Territory of INDIA Given the extent of global cross-border trade in the present times that has inter alia proliferated the disputes between the various stakeholders thereto who often find themselves in different jurisdictions and the binding agreements between them that provide for resolution of such disputes in a jurisdiction different [...]
Madrid Protocol Introduction The Madrid Protocol, adopted in the year 1989, has devised a one-point solution to file, register and maintain one’s trademark in more than one country by filing a single application under this protocol, provided that the targeted countries are the members of the Protocol. The Madrid Protocol entered into force on [...]
Working Hours and Leave for Private Sector Employees in the UAE Introduction The United Arab Emirates (“UAE”/ “Country”) is not only a land of tourist attraction or a hub for high profile people to do business but it is one of the biggest lands of employment. People who work as labours in UAE are [...]
Regulations on Securities & Commodities in the United Arab Emirates – A brief outlook IntroductionSecurities’ is a commonly known term in today’s corporate world, where a vast majority of the corporate population understands, if not knows, the concept of how securities work. In general terms, securities are ‘fungible and tradable’ financial instruments that are used [...]
Central Bank of UAE - Financial Consumer Protection Regulatory Framework & Data Protection Introduction The UAE Financial sector is growing and is now expanding into diverse products and services which are increasingly being embedded into technology such as artificial intelligence making the said services all the more susceptible to data breaches. Therefore, in light [...]
Insurance Coverage for Coronavirus-related Interruption to Businesses Introduction The rise of the COVID-19 pandemic has stagnated the performance of the global industry, with supply chains being disrupted and consumers being driven away from marketplaces. The rapid expansion in the numbers of people infected, has disrupted not just personal routines, but also macro-level activities. While [...]
UAE ANTI- MONEY LAUNDERING REGULATIONS TO COMBATE THE FINANCING OF TERRORISM AND ILLEGAL ORGANISATIONS Introduction In an effort taken by the UAE government to combat money laundering crimes in the UAE, the Ministry of Justice has introduced a set of new measures and guidelines in relation to the Federal Decree-law No. [...]
