Insight Category: News
This article explains the recent developments relating to UAE’s new ‘Data Law’, introduced as part of the country’s ‘Projects of the 50’ initiatives. The UAE is celebrating its golden jubilee (50 years as a unified nation), and the ‘Projects of the 50’ initiative is a series of social and economic development projects that the UAE… Continue reading UAE Project of the 50: New Data Law...
UAE Cabinet Decision No. 58 / 2020is to be implemented to regulate the minimum obligations of the corporate entities incorporated in the UAE mainland and in the non-financial free zones (each an “Entity”) by requiring disclosure at the initial incorporation/registration stage, and maintenance thereafter, of a “Register of Real Beneficiaries” and “Register of Partners or… Continue reading Brief on the new UAE Cabinet Decision No 58/2020 on the Regulation of the Procedures of Real Beneficiary...
For those busy insurance/reinsurance professionals out there, BSA have provided a snap-shot of last year’s UAE insurance laws and what to watch out for in 2021. The formal declaration of the outbreak of Coronavirus as a pandemic (Covid-19) on 11 March 2020 sent shockwaves around the world and the insurance industry has been hit hard.… Continue reading UAE Insurance Regulatory Round-up 2020...
Speedier commercial cases, reshaped economic rights for women and local HQ requirements all prove good news for cohesion in the region. International businesses that contract with the Kingdom of Saudi Arabia have only three years to set up regional headquarters in the country, it was recently decreed. The decision that KSA will not contract with… Continue reading Clarified legal landscape for KSA offers investors potential new playground...
The English High Court has recently handed down a judgement in a test case related to “Business Interruption” insurance in the context of the COVID19 pandemic, which provides an interesting angle in respect of coverage issues and general English law [insurance] contract interpretation. The Financial Conduct Authority v Arch and Others[1] essentially addressed the legal… Continue reading Recent Legal Developments in Business Interruption Insurance – Coverage Issues and Wider Implications perhaps for the Middle East...
Small investors: imagine owning a property by browsing a website and buying a piece of property that appeals to you – just as you buy a piece of clothing you find appealing online from one of your favourite brands. Prospective entrepreneurs: imagine pitching a project or business through an online platform and raising funds from… Continue reading Real Estate Crowdfunding as Potential Opportunity for Investors and Entrepreneurs...
The Dubai Government issued decree number 6 of 2020 in relation to advertisement regulations. This new decree sets out new guidelines, regulations and permits criteria for all physical advertisements, such as signages, outdoor billboards, promotions, leaflets, roads, commercials and others. Historically, there was a decree number 30 of 1986 that was issued in Dubai to… Continue reading Decree on the Regulation of Advertisements in Dubai...
Regulatory Changes for Insurance Disputes in the United Arab Emirates and the existing Insurance Dispute Committee in the Kingdom of Saudi Arabia BSA are often instructed by the London market for coverage advice pending disputes between cedant and reinsurers. Many of those treaty terms will be governed by the laws of various Middle East jurisdictions… Continue reading Insurance Claims Management: Using the Most Appropriate Governing Law & Jurisdiction Clause in Reinsurance Contracts...
The long-awaited revamp of the data protection regime has finally arrived in the DIFC. As one of the first jurisdictions in the Middle East to draft a stand-alone data protection law, the DIFC has always stood on the forefront of ensuring that the best standards of privacy and data protection would be a key building… Continue reading DIFC Data Protection Law 2020...
The United Arab Emirates (UAE) Insurance Authority (IA) has confirmed that capitation schemes related to the health insurance business in the UAE are unlawful and all IA, authorized and licensed entities must immediately cease the operation of such schemes. Circular No (17) of 2020 for the Cessation of Violating Practices dated 2 June 2020 (the… Continue reading Health Insurance in the UAE – Capitation Schemes Confirmed Unlawful by the Insurance Authority...