Insight Category: News
On 13 June 2021 the UAE Central Bank issued a circular with reference no. CBUAE/BSD/N/2021/3148 (“the Circular”) addressed to all financial institutions operating in the UAE, offering structured conventional life insurance and takaful investment and saving products (“the Products”). The Circular refers to Central Bank’s Circular of May 2017 which was addressed to banks and… Continue reading Revised Central Bank Guidance regarding Saving and Investment Insurance...
BSA Ahmad Bin Hezeem & Associates is proud to have been named Regional Law Firm of the Year at the annual Law.com Legal WeekMiddle East Legal Awards. BSA is noted as having “an impressive regional footprint in the Middle East, which offers a full service to its clients, delivering excellence each time.” The judges took… Continue reading BSA Named Regional Law Firm of the Year...
Background The General Assembly of the Dubai Court of Cassation issued the Resolution No. 1/2021 (the “Resolution”) very recently. The Resolution which was passed unanimously has now changed the previous judicial practice regarding interest rate calculations for the awarded amount of debt in the absence of a mutually agreed rate of interest in a loan… Continue reading Important Change to Interest Rate by Dubai Court...
In the following article, the BSA Intellectual Property practice provides updates related to Intellectual Property and trademark owners in the UAE: The UAE Cabinet approves accession to the Madrid Protocol system The UAE recently announced it will be joining the Madrid Protocol for trademark registration systems, which is scheduled to be completed by the end… Continue reading Recent Updates and Developments in UAE Intellectual Property Practice and Procedures...
Health Insurance is by far the largest line of risk along side motor insurance in the United Arab Emirates. Both lines of insurance are mandatory, save that health insurance is currently only mandatory in the Emirates of Abu Dhabi and Dubai. With this backdrop, it is important to address whether medical benefits and services can… Continue reading Health Insurance in the UAE and the Concepts of Medical Benefits Trusts...
BSA corporate associate Bradley Moran has recently been approved as a DIFC Will Draftsman. A DIFC Will is one of the most straightforward ways for non-Muslim expatriates living in the UAE to direct and protect the succession of their local assets if anything should happen to them. If you’re a non-Muslim and die without a… Continue reading DIFC Wills...
The following article was originally published for BSA on Zawya. OPINION The Dubai International Financial Centre (“DIFC”) has supplemented the establishment of its own Intellectual Property (“IP”) Law with newly published IP Regulations, effective from 5 July 2021. The DIFC first implemented its own IP Law back in 2019 and has since had the authority… Continue reading Dubai DIFC’s new IP regulations provide welcome clarity...
The following article was originally published for BSA on SME10X. Many industry sectors will be surprised to hear that the UAE has a well-developed legal framework for the protection of individual data subjects in respect of their health data and information. Despite this, health data is often misused in the UAE, and in some cases,… Continue reading How the UAE ITC Data Law impacts businesses...
BSA is proud to have been recognised by the India Business Law Journal’s 15th annual review, as a top foreign firm for India related work. The firm was included in the ‘Regional & Specialist’ category, where recognition was given to senior associate Anand Singh, who leads the firms India desk, and matters including the Gulf… Continue reading BSA named a top foreign firm for India related work...
Certain enhanced protections of debtors under the UAE Bankruptcy Law – Federal Law No. 9 of 2016 – which were previously put into place on an emergency basis in response to the Covid pandemic, have now expired. Debtors and creditors who have acted in reliance upon the enhanced provisions should now consider the proper steps… Continue reading Bankruptcy Update: ‘Emergency Financial Crisis’ Period Ends...