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Evolution of Fintech in the Middle East “The major winners will be the financial services companies that embrace technology.” With a population of about 600 million people, the Middle East is one of the world's most diverse areas, covering three continents and 21 countries. It is a culturally, politically, and…
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Whistleblowing Regime introduced by DFSA “Whistleblowers form a key part of a firm’s ability to detect, identify and escalate issues of misconduct, and the required Whistleblower policies and procedures play an important role in encouraging appropriate disclosures - F. Christopher Calabia, Chief Executive of the DFSA The Regime defines a…
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Setting Up a Foundation in the UAE “Reliable structure needs a strong foundation and strong foundation requires investment” ― Guru Z.S. Gill UAE Foundations are an integral part of the country’s wealth management system. It is an independent legal entity. Foundations are usually created to protect the desires of the Founder…
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Madrid System for the International Registration of Trаdemаks Introduction Two independent treaties govern the registration of trademarks around the world and they are Madrid Agreement and Madrid Protocol. Combining the agreement and protocol is the Madrid System for International Registration of Marks. Countries that are part of the Convention and…
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Impact of Digital Technologies Introduction A copyright is a legal protection given to original works, but it does not cover an idea in and of itself; instead, it covers the representation of an idea in a fixed or physical form. The author has the only right to reproduce or sell…
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Force Majeure Events and Contract Clauses in the GCC Force Majeure is a French word that means a greater force in English. It is connected to the concept of the Act of God, where there is an unexpected happening of event. Although, Force Majeure is an exception as it includes not…
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Impact of Artificial intelligence on Legal Sector The stimulation of human intelligence process by a machine is termed as Artificial intelligence. Mostly this is done by the computer systems. The Specific applications of Artificial intelligence include natural language processing, speech recognition and machine vision. In simple words it is programming a…
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ADGM Regulations for SPVs and Foundation “Regulation needs to catch up with innovation” The ADGM's Registration Authority published a consultation document in October proposing a regulatory regime for the use of CSPs in the ADGM. The public consultation began against the backdrop of rising interest in and success with incorporating…
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Federal Law Number 6 of 2021: Introduction of Mediation Law in UАE Introduction А process where an unbiased third party helps the disputing party to resolve their disputes or conflicts by the use of specialized techniques and methods of negotiations is referred as mediation. It is an аlternаtive dispute resolution mechanism…
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Inheritance Law in the UAE “A leader’s lasting value is measured by succession.” …
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Decree 34 of 2021 and its impact on arbitration Decree No. 34 has been issued on Sept. 14, 2021, and took effect on September 20, 2021. The Decree canceled two arbitration organizations in Dubai: I the Arbitration Organization of the Dubai International Financial Centre ("DIFC"), which included the DIFC-LCIA arbitration…
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Understanding Censorship Across the GCC Censorship is one method of the government to control media. Censorship is characterized as concealment or forbiddance of speech or composing that is considered subversive of the benefit of everyone. It happens in all manifestations of power in some degree, yet in present day times…
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ADGM Data Protection Rules 2021-2022 “Availability of protection ensures reliability and timely access to data and resources to authorized individuals.” Organizations must emphasize educating about their responsibilities under the new ADGM Data Protection Regulations, conducting a disparity test to find whether their current systems are vulnerable or appropriate, considering any…
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Dealing with Counterfeits in the UAE Introduction Businesses engaging with counterfeit items in the UAE now risk significantly harsher sanctions, again for legitimate brand owners. The maximum punishment for counterfeiting has been increased from AED 10,000 (about USD 2,700) to AED 1 million (approximately USD 275,000) for pharmaceutical and food…
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