Insight Category: News
Senior associate Michèle El Khoury examines recently introduced reforms to real estate investment funds in Dubai, for Global Restructuring Review, which she says aim to strengthen the jurisdiction’s position as a destination for foreign capital, including by protecting the rights of overseas investors when REIFs are faced with bankruptcy. REIFs are currently a topic on… Continue reading Foreign investors to benefit from Dubai’s REIF reforms...
The growing concern for transparency and need for reporting indicates a stronger mission to combat Money Laundering activities. Today, regulators in every part of the world are preoccupied with developing frameworks and procedures to uncover illicit funds. Their position has drastically moved from a reactive to a proactive one reflected through the issuance of various… Continue reading AML And RegTech In The UAE...
The factors that contributed to the collapse of Silicon Valley Bank were complicated and varied. Certain professionals have identified the bank’s excessive dependence on the technology industry as a key vulnerability, rendering it more susceptible to market volatility and economic recession. Others have opined that the bank’s lending practices were excessively aggressive, resulting in a… Continue reading SVB’s Collapse: Implications for FinTech Startups in the Middle East...
If they are heavily amended, are they FIDIC contracts any longer? Antonios Dimitracopoulos, FCIArb, Partner, BSA Ahmad Bin Hezeem & Associates LLP, writes a bi-monthly column for Climate Control Middle East on legal affairs pertaining to the construction industry. THE TREND It is often the case that construction contracts in the UAE are largely based on… Continue reading FIDIC any longer?...
Promissory notes are an important part of financing transactions in the Kingdom of Saudi Arabia as it is a relatively simple, easy to understand, easy to transfer through an endorsement and fast to enforce. The Commercial Papers Law issued by Royal Decree number 37 dated 11/10/1383H (corresponding to 24/02/1964G) (“Commercial Papers Law”) regulates the issuance… Continue reading Electronic Promissory Notes in KSA: The Nafith Platform...
In this article, we explore some of the opportunities that the metaverse presents for the delivery of healthcare to patients. As the underlying technology develops, the way that patient data is generated and manipulated will inevitably see some significant changes. For providers, this means that there are some potentially important legal implications that should be… Continue reading Healthcare, the Metaverse and UAE Health Data Law...
Healthcare is one of the most important service sectors in the UAE. In this article, we look at the growing medical tourism industry in the country and across the region. With increasing numbers of people travelling internationally for healthcare services, we will focus on the importance of insurance in managing risk for individuals seeking treatment,… Continue reading The Medical Tourism boom and the role of Insurance for both Patients and Providers...
The latest changes to the relevant laws in the last two to three years raised the need for companies to become more acquainted with their expected obligations. Apart from the usual finance-regulated companies, the laws and regulations expect non-financial businesses and professions to be treated as regulated entities in the context of anti-money laundering. Rima… Continue reading AML Compliance and why you should care...
“Pacta sunt servanda” or “agreements must be kept”, is a fundamental general principle of law in both common and civil jurisdictions, which simply indicates that agreements should be binding for its signatory parties and executed in good faith. As a consequence, when a party fails to comply with its contractual obligations or acts in bad… Continue reading Compensation for Arbitrary Dismissal Between the New Labor Law and Recent Precedents...
Introduction Saudi Arabia has recently unveiled four new Special Economic Zones (SEZs) across the country, bolstering its reputation as a global business hub and providing significant opportunities for investors across key sectors. These SEZs form an integral part of the Kingdom’s Vision 2030 strategy, aimed at diversifying the economy, fostering innovation, and attracting international investments.… Continue reading Saudi Arabia’s Innovative Special Economic Zones Set to Propel the Kingdom’s Economy...