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Establishing 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 being…
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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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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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Buy Now, Pay Later (BNPL) offerings in the UAE and Legalities Surrounding them In these times of economic instability, and as the coronavirus continues to wreak havoc worldwide, buy-now-pay-later (BNPL) solutions are eclipsing credit cards more conveniently and transparently to fund transactions. E-commerce has developed over the last two years,…
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Dealing with Counterfeit 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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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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Federal Decree-Law Number 16 of 2021 on Factoring and Transfer of Civil Accounts Receivable The Government of the United Arab Emirates has recently brought in the Federal Decree-Law Number 16 of 2021 to deal with issues regarding the Factoring and Transfer of Accounts Receivable within the country. The New Law…
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Crypto Asset Regulation in the UAE - A Guide The sphere of crypto assets is continuously evolving in all spheres in the global area. The terminology is simultaneously advancing with terms such as crypto assets, cryptocurrencies, security tokens, etc. The regulation of these crypto-assets is a matter of frequent discussion…
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UAE to Join Madrid System in December 2021, Understanding the implications The Government of the United Arab Emirates has declared its move to join the Madrid Protocol System, which will come into force on the 28th of December 2021. The move indicates the UAE becoming the 109th country globally and…
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Enforcement of Arbitral Awards in UAE Enforcement is agreeing with a contract with an appropriate dispute resolution mechanism. The UAE introduced federal Law No.6 of 2018 on Arbitration in 2018. It clarifies the procedures to challenge the enforcement of an arbitral award before the onshore UAE courts. The arbitration law…
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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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Decree 34 of 2021 and Development in Arbitration in Dubai "Arbitration is justice blended with charity" - Nachman of Breslov. The Dubai Decree no. 34 of 2021 regarding the Dubai International Arbitration Centre was published on 14 September 2021. The new Decree will reform the framework of Arbitration in the Emirate of Dubai.…
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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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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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