News developments Archives - Page 168 of 223

Abu Dhabi: Civil Court has ordered a woman to pay financial compensation for moral damages

15/01/202115/01/2021
by Benjamin Filaferro

Abu Dhabi’s Civil Court has ordered a woman to pay 10,000 AED in moral damages caused to another woman. They insulted the woman over the phone which included phrases which insulted her honour. The Public Prosecution Office had referred the defendant to the Criminal Court. They charged her and requested she pay 5,000 AED. However, the claimant filed a complaint with the Civil Court requesting the defendant pay 50,000 AED in compensation for the moral and material damages she caused her and request she pay lawyer fees and costs. The Court of First Instance confirmed in its judgment the estimation of the damages should be compensated and the circumstances which should be taken into account are within the powers of the Court providing the Law didn’t provide for following certain standards in estimating them. The Court rejected the claimant’s request for financial compensation because she didn’t outline the financial damages she suffered or the losses. The Court accepted the claimant’s request for moral damage compensation and ordered the defendant pay 10,000 AED and costs.

UAE: Penalties for Taking Another’s Photo Without Consent Confirmed

09/01/202109/01/2021
by Benjamin Filaferro

The UAE’s Public Prosecution has confirmed the penalties for those who take photos of others without their consent. Under Article 21 of Federal Decree Law No. 5/2012 privacy may be invaded through interception, recording, eavesdropping, transferring, transmitting or disclosing conversations or communications, or audio or visual materials. They will be fined between 250,000 and 500,000 AED and jailed for up to one year. Anyone who uses a computer network or any other technology to expose a person and violate their privacy will be jailed for at least six months and/or fined between 150,000 and 500,000 AED. This also covers taking photos of others without their consent or creating, transferring, disclosing, copying or saving their photos.

Oman: Expatriate Exit Scheme Extended

09/01/202109/01/2021
by Benjamin Filaferro

Oman’s Labour Ministry has announced the expatriate exit scheme has been extended. Under the scheme, employers of expatriate employees who want to leave Oman permanently will be exempt from all fees and fines. The scheme has been extended to 31 March following directives from the Sultanate’s Supreme Anti-Coronavirus Committee.

Kuwait: Regulations for charities licenses

09/01/202109/01/2021
by Benjamin Filaferro

Kuwait’s Council of Ministers has asked the Social Affairs Ministry to make all the necessary arrangements to implement the recommendation of the legal affairs committee regarding the conditions and rules for regulating the licensing of charities. The aim is to make sure legal requirements are observed and the monies given to these charities are not used in money laundering and terrorism funding. The committee has also recommended charities be prevented from taking a share of the donations.

Bahrain: Commercial Companies Law Amendments Approved

09/01/202109/01/2021
by Benjamin Filaferro

Bahrain’s Parliament has approved a recommendation from the Financial and Economic Committee on amendments to the Commercial Companies Law. The aim is to introduce more investment choices and remove investment obstacles. A Bahraini MP has confirmed the importance of the law but said they hoped it comes in the form of a draft law to make it possible to amend some of its paragraphs which the chamber had some reservations on.

Abu Dhabi: Judicial Department Launches Project to Certify Documents Digitally

09/01/202109/01/2021
by Benjamin Filaferro

Abu Dhabi’s Judicial Department has announced it has launched a digital authentication project. It will allow documents issued by the Department’s systems to be approved in an integrated digital way which is compatible with the UAE PASS digital identity system to authenticate documents. Digital authentication will be applied to notary and authentication transactions, as part of the completion of the digital transformation plan, in line with Government directions to keep up with technological development using the latest technologies and the highest standards of information security.

UAE: Arabtec Formally Files Insolvent Liquidation Application

18/12/202018/12/2020
by Benjamin Filaferro

Arabtec has formally filed an insolvency liquidation application following the approval of the proposal by their General Assembly. The application covers Arabtec Construction LLC, Arabtec Constructions LLC, Austrian Arabian Readymix Concrete Co LLC and Arabtec Precast LLC also be placed into insolvent liquidation. No applications involving the company’s other subsidiaries have been made. Until an insolvency trustee is appointed, the Company will continue engaging with key stakeholders to explore options to preserve value and where possible avoid these subsidiaries needing to be placed into a formal insolvency process. It follows two months of consultations with all of the company’ relevant stakeholders. Their liabilities are calculated at 18 billion AED.

Saudi Arabia: New Agencies to Monitor Resources and Development in Mining Sector to be Established

18/12/202018/12/2020
by Benjamin Filaferro

Saudi Arabia’s Industry and Mineral Resources Minister has agreed to restructure the mining sector by creating three new agencies. They will be led by the Deputy Minister for Mining Affairs. They are the Ministry’s Agency for Mineral Resources, the Ministry’s Agency for Mining Control and Compliance and the Ministry’s Agency for Mining Development. The aim is to provide faster and better services to investors in the mining sector.

Qatar: Qatar Decree-Law No. 21/2020 On Private Associations and Institutions

18/12/202018/12/2020
by Benjamin Filaferro

Qatar’s Shoura Council has approved the Private Associations and Institutions Decree-Law (Qatar Decree-Law No. 21/2020). They approved it after discussing a report from the Public Services and Utilities Committee on it. It defines an association as a group which is composed of several natural or legal persons who participate together to carry out a social, cultural, scientific, educational, or professional activity, without seeking a profit. It also defines the professional association as an association consisting of the owners of one profession regulated by law. In addition, it defines a private enterprise as a private establishment set up by one or more natural or legal persons to achieve one or more charitable or public or private benefit purposes without looking to make a profit. Finally, it specifies the conditions for establishing an association, its founding contract requirements, its articles of association, how to register it, its objectives, the license period and aspects related to its management, finances and control of its business. They have referred it to the Government to consider.

Oman: Insurance Investment Regulatory Guidelines Issued

18/12/202018/12/2020
by Benjamin Filaferro

Oman’s Capital Market Authority has announced it has issued insurance investment regulatory guidelines. They will regulate investments of insurance companies and Takaful insurance in the Sultanate. They give insurance firms greater flexibility in making investments to support their corporate growth objectives, while maintaining adequate reserves and liquidity to handle claims from policyholders. In terms of Takaful insurers, Takaful companies will have to comply with legal provisions like deeds and Islamic investment funds according to the specified percentages and terms regardless of whether they are investing in or outside the Sultanate. The regulations impose limits on investments in schemes like deposit, commercial and Government bonds and the public joint stock companies’ shares, investment funds and companies which are not listed on the stock exchange as well as real estate. When drafting the guidelines, the Authority considered investment trends, market volatility issues, international developments in the sector among other things. It is part of efforts by the Authority to support the development of the Omani insurance market and enable insurance firms to diversify their investments.