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. [...]
Implications of Islamic Laws on Cryptocurrency and Blockchain Introduction United Arab Emirates (UAE) over the recent years has been making a significant growth in the field of cryptocurrency. However, cryptocurrency and the technologies that have advanced through the products of financial engineering are not compliant with the rules emerging from Sharia Law i.e., firstly, [...]
Cheque Bounce Cheque bounce is a situation when a cheque cannot be processed because of insufficient funds in the account. Apart from insufficient funds, there are other grounds such as illegitimate/unacceptable signature in the cheque and incorrect inputs in the cheque.For instance, mismatch in the amount in words and the figure; the date being post-dated [...]
Regulations Concerning the Payment Orders in UAE Law Introduction to Arbitration in the UAE The process set out earlier in the UAE Civil Procedures Law (Federal Law No. 11 of 1992) (“UAE Civil Procedures Law”) to enforce rights of creditors in transactions and facilitate prompt justice had lacunae. Due to the current Pandemic situation, [...]
Introduction to Arbitration in the UAE Introduction to Arbitration in the UAE The long anticipated Federal Law No. 6 of 2018, (“the Arbitration Law”) came into effect in 2018. Broadly based on the UNCITRAL Modern Law, the enactment of the Arbitration Law undoubtedly aligns arbitration in the UAE with the world wide practice and [...]
The Doctrine of Res Judicata under UAE Law Res judicata is a fundamental concept of law that serves to prevent duplicity of proceedings on a subject-matter, by precluding re-litigation of facts that have been conclusively determined by a judicial body in a prior proceeding. From a natural justice perspective, such doctrine aims to thwart [...]
