03/07/2022
New rules boost Dubai’s international arbitration credentials
The new rules will take effect on 21 March 2022 and will replace rules which have been in place since 2007.
Legal, Tax, Regulation & Compliance
03/06/2022
UAE affirms commitment to strengthening anti-money laundering efforts
Country will work closely with FATF to address remaining areas of improvement
03/04/2022
Walkers successfully advises SHUAA Capital
This is one of the first SPACs to be launched out of the MENAT region.
03/04/2022
General Tax Authority signs Memorandum of Cooperation with Ministry of Interior
The memorandum was signed by GTA’s Assistant President for Tax Affairs Ghanim bin Khalifa Al Attiyah and Head of Economic and Cyber Crimes Department of the Ministry of Interior Colonel Ali Hassan Al Kubaisi.
03/04/2022
UAE Central Bank approves creation of 5,000 jobs for UAE nationals by 2026 in banking, finance
The announcement follows similar Emiratisation initiatives
03/04/2022
UK Court Orders Lebanese Banks to Pay $4M to Saver
Banks imposed tight controls on accounts, including a de facto ban on withdrawals of dollar-denominated deposits and limits on withdrawals in local currency.
03/04/2022
Abu Dhabi offers exclusive benefits to golden visa holders
They will be entitled to discounts and offers on cars, property, health care, hospitality, health insurance and banking services
03/03/2022
DIFC announces proposed amendments to Real Property Law for consultation
The consultation paper and legislative proposal can be accessed by visiting the Consultation Papers page on the DIFC website
03/03/2022
UAE Central Bank to create 5,000 jobs for Emiratis in banking, insurance sectors by 2026
The decision was approved at a meeting of the board of directors held at Qasr Al Watan and chaired by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs
03/03/2022
Exclusive: UAE's Mashreqbank halts Russian bank loans over credit concerns -sources
The exposure was mainly short-term or one-year loans to banks, one of the sources added.
03/02/2022
Saudi's CMA announces reward worth 20% of collected fines to whistleblowers
The new regulation related with penalties of the law violations and the reward for whistleblowers will come into force from June this year
03/02/2022
UK court orders Lebanese banks to pay $4m to saver
Lebanon's crippled banking system imposed a ban on withdrawals of dollar-denominated deposits
03/02/2022
Qatar, Nigerian Manufacturers to strengthen economic cooperation
The event would be followed by an economic forum between the stakeholders from both countries on Friday in Abuja.
03/01/2022
Regulating crypto assets continues to be a tough feat
A key question in the blockchain landscape is how regulators can strike the right balance
03/01/2022
Dubai consultancy founder Nigel Sillitoe gets 10-year UAE Golden Visa
Sillitoe was one of the original investors in Insight Discovery and has over 25 years' experience in marketing, press relations and sales management.
03/01/2022
Brookfield to buy 60% of First Abu Dhabi Bank’s payment arm
Brookfield to buy 60% of First Abu Dhabi Bank’s payment arm The bank’s payments business was valued at $1.15bn
03/01/2022
Looming FATF Decision on Dirty Money List Poses Risks for UAE
The Financial Action Task Force in 2020 called for "fundamental and major improvements" by the UAE
02/28/2022
Clifford Chance advises Republic of Turkey
Over 200 investors attended the Sukuk issuance, with 66% operating in the Middle East, 12% in the US, 12% in the UK, 5% in other European countries, 4% in Turkey, and 1% in Asia.
02/28/2022
Joint cooperation agreement signed between UAE and Saudi Arabia in Internal Auditing
Aim to improve the capabilities of Internal Auditors between the two countries
02/24/2022
Andersen Global Enters Collaboration Agreement with Bahrain-Based Law Firm
Almoayed Chambers Consultancy is a boutique law firm with specific focus on corporate commercial contracts