Insight Category: News
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...
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...