Insight Category: Regulatory & Legal Updates
Corporate governance is the underlying set of principles by which good business practices are conducted in the country. The hallmark of good corporate governance is the balance of entrepreneurship, control and transparency while supporting a company in the efficient decision making processes. Nadim Bardawil discusses their impact on businesses. To read full article CLICK HEREand… Continue reading Corporate Governance Laws...
As population and legislative change drives GCC insurance market growth, Michael Kortbawi and Amira Janine El Masry of Bin Shabib & Associates look at the current regulatory position. What is happening and why? “According to a report by A.M Best on insurance market growth in emerging markets, this market experienced 21% growth in the GCC… Continue reading Insurance Regulations In The GCC – Risky Business...
Lloyd’s plans to set up DIFC is a great boost to the market. However, there may be difficulties that need to be ironed out first, say Michael Kortbawi and Irshied Tayeb of BSA. Lloyd’s plan to set up in the DIFC is a great achievement for the Centre which shows that the DIFC, and Dubai… Continue reading Lloyd’s and The DIFC – Making It A Suitable Match...
The reception, which took place in Paris on 23 October on the occasion of the SIAL (the largest global international food products exhibition) and the Paris Art Fair, was held at a prestigious private residence along Avenue de Messine. The event was attended by a selection of UAE, Oman, KSA, and Qatar businessmen in addition… Continue reading BSA, JAFZA and Dumon & Partners Host Reception in Paris, To Celebrate the French Emirati Friendship...
Having been appointed by the UAE Insurance Authority to assist in redrafting the UAE insurance law, Irshied Tayeb, head of insurance, Rima Mrad, partner, and Michael Kortbawi, partner at BSA Ahmad Bin Hezeem & Associates LLP ( Former Bin Shabib & Associates) discuss the measures to enhance the regulatory framework. Bringing the UAE insurance law… Continue reading A Long Awaited Initiative: Measures To Enhance The Regulatory Framework In The UAE...
Current practices in the reinsurance industry of the UAE impede its growth and development. BSA Ahmad Bin Hezeem & Associates LLP (Former Bin Shabib & Associates) recommends measures that need to be implemented to tackle the challenges. The dynamic nature of the insurance industry in the GCC, particularly in the UAE market, is heavily dependent… Continue reading Building A Stronger Reinsurance Industry...
Being a senior professional in one of the leading regional law firms, I have worked and still working in a male dominant environment. I have been surrounded by men at all stages of my career which is extremely normal and expected in the Middle East. When I was asked to talk about the main challenges… Continue reading Paving the Future Path of Arab Women...
In the past month, a number of achievements have been announced on a regional and global level with regards to the Islamic finance industry. The nature of the progress we are witnessing in this sector, especially in the MENA region, is remarkable as governments and regulators start to actively work on enhancing the regulatory and… Continue reading Regulatory Enhancements Push UAE Industry Forward...
The Islamic financial market has seen continuous growth in the past few years, particularly in the use of sukuk. As this debt instrument is carving itself a prominent place in the international financial market and competing with conventional debt products, we have dedicated this article to shed light on the concept of sukuk, how it… Continue reading Back To Basics: Sukuk Structures...
Bancassurance allows banks to sell insurance policies of insurers they have partnered with and is one of the many means of alternative distribution methods adopted by GCC insurance companies. Although the usage of bancassurance in the GCC region is still on the low end, significant growth for this sector is expected as stakeholders begin to… Continue reading Bancassurance in the GCC: The Need for Change...