Insight Category: News
In this article, we look at some of the forthcoming changes to the Personal Data Protection Law in KSA and the impact that this may have on business operating in the country, with particular focus on the healthcare sector. In anticipating the impact of some of the changes, we will consider what businesses operating in… Continue reading Changes to Personal Data Protection Law in Saudi Arabia – Implications for the Healthcare Sector...
The following UAE Guide, was written for the International Bar Association (IBA) Banking Law Committee, and forms part of a global report. 1. Fintech regulatory framework: a summary of the most relevant laws and regulations concerning fintech and financial innovation. The United Arab Emirates (UAE) continues to hold its position as the leader in fintech… Continue reading FinTech: How is the world shaping the financial innovation industry...
In a significant move, the Central Bank of the United Arab Emirates has issued circular no. /3/ of 2023 (“Circular”), in pursuance of the Federal Decree-Law no. /23/ of 2022 amending Federal Decree-Law no. /14/ of 2018, whereby article 121 bis mandates that banks take the necessary securities from personal individuals or sole proprietorship before… Continue reading Abu Dhabi Courts Take Strong Stance Against Personal Guarantors as Central Bank Implements Security Requirements...
The implementation of corporate tax in the UAE is imminent and effective starting 1st June 2023. Federal corporate tax has been implemented in the UAE in an effort to advance the nation’s standing as a premier global centre for trade and investment as well as quicken the strategic goal of growth and transformation. In the… Continue reading UAE SME’s brace for new Corporate Tax Law...
Lawyer, positive-thinker and all-round go-getter, Nadia El Tannir is tackling all of life’s big issues head on and always with a big heart in this Raemona Magazine feature. NAME: Nadia El Tannir AGE: 30 years old JOB TITLE: Senior Associate at BSA Ahmad Bin Hezeem & Associates LLP A practicing lawyer for eight years, Nadia… Continue reading Raemona Magazine: Life Lessons – Nadia El Tannir...
The following article, written and published by ESG Mena features comments on greenwashing by BSA senior associate Robert Mitchley. As companies worldwide trumpet their ESG credentials and pledge net zero, many are failing to make good on their promises. Corporate greenwashing is rife, and it’s fuelling climate change with companies continuing to put profit before… Continue reading Turning the tide on greenwashing in 2023...
Over the past two years, the UAE Central Bank (“CBUAE”) has been actively working on issuing updated circulars to address the growing concerns and challenges relating to money laundering, financing of terrorism and sanctions. This is part of the overall approach the CBUAE is adopting as part of their ongoing efforts to protect the integrity… Continue reading New CBUAE guidance for licensed financial institutions...
Introduction As the UAE continues to attract entrepreneurs and foreign investment we expect to see a steep rise of start-ups in the near future. Crucial to a start-up are well organized and documented internal governance documents. Thus, beyond the start-up ensuring that they are in compliance with all applicable laws and regulations, and have in… Continue reading Business start-ups: Why you should have a SHA...
The following article, originally written for and published by Global Legal Insights, covers 2022 FinTech Laws and Regulations in the UAE. Approaches and developments The United Arab Emirates (“UAE”) continues to maintain its position as the leader in financial technology (“FinTech”) in the Middle East. This position is maintained with the help of supportive governmental… Continue reading GLI: UAE FinTech Chapter 2022...