UAE: Cyber Security Council Issues Cryptocurrencies and Digital Assets Fraud Warning

The UAE Government’s Cyber Security Council has warned of the dangers of fraud in cryptocurrencies.

The Council said they constitute a cross-border threat that requires dealers to be vigilant.

They added the risks of these fraudulent activities extend beyond financial loss.

They also put personal privacy at risk and threaten the fundamental trust on which the cryptocurrency market depends.

They went on to say data and studies recently released highlight these risks and the regulatory measures being taken in light of growing concerns about fraud in digital currencies and the consequences.

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UAE: International Humanitarian Affairs Council Established

Al Bayan, 4 January 2024: The UAE’s President has issued Federal Decree No. 202/2023 establishing an International Humanitarian Affairs Council.

It will report to the Chief of the Presidential Office and will be responsible for supervising all issues and matters related to international humanitarian affairs.

It will be chaired by the Head of the Office of Development Affairs and Families of Martyrs in the Presidential Office, His Highness Sheikh Theyab bin Mohammed bin Zayed Al Nahyan,

Among other things the Council will be responsible for preparing and reviewing the general policy for international humanitarian affairs, general supervision of the international humanitarian affairs system, following up on the preparation and implementation of relevant plans, initiatives and projects, developing a future vision for international humanitarian affairs, determining general frameworks for its implementation by the relevant authorities and preparing the budget.

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French Legal Tech startup Jarvis Joins LexisNexis to Advance Law Practice Management

LexisNexis acquires French startup Jarvis. This strategic acquisition cements LexisNexis’ position as a key innovator serving legal professionals.

Paris, January 8, 2024 – Jarvis has developed a collaborative SaaS platform that simplifies and automates cumbersome tasks for law firms. It includes matter management automated drafting of letters, court hearing tracking, deadline and client follow-up, and automated invoicing. This solution is available in several languages and handles different currencies and tax systems.

By acquiring Jarvis, LexisNexis augments its range of solutions with a law practice management platform. Jarvis will be marketed in Continental Europe, Middle East and Africa (CEMEA), optimizing workflows and productivity.

“Jarvis has engineered a solution that leverages technology to support law firm management. This strategic acquisition further demonstrates our commitment to delivering innovative solutions that empower legal professionals daily. Jarvis’ expertise in legal workflow solutions complements our offering” said Eric Bonnet-Maes, CEO of LexisNexis CEMEA.

Jarvis Legal Founder and CEO Alexandre Yérémian added: “Joining LexisNexis will accelerate our international rollout and ability to deliver increasingly innovative solutions to customers. We eagerly anticipate contributing to the ongoing advancement of legal technology with LexisNexis.”

This acquisition is part of LexisNexis’ strategy to facilitate decision-making, ensure legal security, and enhance productivity for legal professionals.

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UAE: New Media Law Approved

Arabian Business, 18 December 2023: The UAE government has approved a new Media Law.

Federal Decree-Law No. 55/2023 has been issued to regulate the media sector and organise media activities in the country.

This includes radio, television, newspapers and cinemas in the country.

The Law applies to individuals, organisations, media outlets and free zones dedicated to media in the country.

It allows individuals and legal entities to own media institutions and outlets in line with specific regulations and conditions.

Media activities include the production, circulation, printing and publishing of media content as well as audio, video and digital broadcasting regardless of whether they are subscription-based or free-to-air.

This includes all affairs relating to the issuing and oversight of licences and permits for the execution of media activities by individuals, establishments, and media institutions, including radio and television broadcasting, cinema movies and creative productions, newspapers and publications, digital and electronic media activities, book fairs, foreign publications, foreign media offices, printing, circulating and publishing media content and aerial, ground, and maritime imaging operations.

In addition, the Law organises the UAE Media Council and local government entities responsible for regulating media affairs.

All media individuals and institutions operating in the UAE have to comply with the national media content standards.

These include respecting the divine, and Islamic beliefs, as well as all other religions and beliefs.

They also include respecting the country’s sovereignty, symbols and institutions and the supreme interests of the UAE and its society and respecting the directions and policies of the country nationally and internationally.

In addition, they include avoiding any actions that may have an adverse impact on the UAE’s foreign relations and respecting the culture and civilisation, national identity and values of the UAE community.

Media outlets and individuals must refrain from disseminating or circulating information that may offend or compromise national unity or social cohesion.

They also have to refrain from disseminating or circulating information that may incite violence, hatred or propagate a spirit of discord among society members or the UAE’s legal and economic system.

Justice and security must not be exploited or abused either and privacy rules and individuals’ private lives must be respected.

The publication, broadcasting or circulating of rumours, false and misleading news or the publication of any matter that may constitute instigation to commit crimes must be avoided.

The UAE Media Council will be responsible for issuing permits for the screening of cinematographic and other creative productions.

They will also be responsible for defining the classifications of the Media Content Rating System for print and creative productions. This includes books, video games and cinematic production.

In addition, the Council will be responsible for determining the age groups suitable to view media and entertainment content and for issuing permits to individuals providing advertising or media content on social media and other modern technical means regardless of whether they are subscription-based or free-to-air.

Licensed or authorised individuals and media outlets will have to be overseen and supervised by the relevant authority.

The Council will be allowed to conduct surveillance and inspection of persons, outlets and media institutions, including in free zones.

The UAE Media Council, together with the relevant authorities will promote the protection of intellectual property among individuals, establishments and media institutions in the UAE.

Individuals, organisations and media outlets will have w12 months from the date of the Decree-Law being published to comply with it and its Implementing Regulations.

This may be extended by a Cabinet Decision.

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UAE: New E-commerce Law Approved

Arabian Business, 7 December 2023: The UAE’s Economy Ministry has announced it has approved a new E-Commerce Law.

Federal Decree-Law No. 14/2023 has been approved to facilitate the growth of e-commerce in the country.

It integrates the roles of federal and local entities involved in e-commerce. It covers the requirements of the Central Bank on digital payment gateways, the requirements of the Federal Tax Authority and the requirements of the Telecommunications and Digital Government Regulatory Authority or TDRA.

In addition, it covers the cybersecurity requirements of federal and local entities and regulates the roles of the relevant federal and local entities in terms of the requirements and approvals required from the local entities concerned with the digital transformation of business activities and the e-commerce licensing requirements of economic development departments.

It will enable an authority fto be established to integrate supervisory, regulatory and judicial control operations and organises relations between merchants and merchants and digital merchants and consumers.

It applies to free zones in the country, including financial free zones, regarding activities that are not related to financial activities too.

Finally, it organises the relationship between parties of digital contracts and protects online consumers and relevant parties.

It aims to improve the business environment, facilitate business transactions, improve efficiency, reduce costs and promote stability in the sector.

It emphasises the central role of entities and authorities responsible for licensing and regulating e-commerce and associated logistic services and digital payment gateways in the country.

However, it does not impose any additional requirements on digital traders or other service providers.

It also protects consumer interests by safeguarding intellectual property rights and the purchase of goods or services via e-commerce channels.

It authorises trade conducted through modern technology and makes it similar to physical trade carried out.

It provides optional jurisdictions for dispute resolution, including arbitration as well and introduces an optional insurance coverage principle regarding obligations arising from trade through modern technology.

The Ministry developed the law with federal and local stakeholders as well as the private sector and relevant experts.

Also reported in Al Bayan on 7 December 2023. Click here to read more.

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UAE: New Emiratisation Rules Announced

Arabian Business, 30 November 2023: The UAE’s Human Resources and Emiratisation Ministry has announced new Emiratisation rules.

Under the new rules, companies with between 20 and 49 employees in specific sectors have to hire an Emirati worker in 2024 and another in 2025.

From January 2025, an annual financial contribution will be imposed on companies that fail to meet their requirements in 2024. This will equate to 96,000 AED for each Emirati not recruited.

A financial contribution of 108,000 AED will be imposed in January 2026 for 2025.

Companies can pay their contributions in instalments in agreement with the Ministry.

Companies in the information and communications, finance and insurance, real estate, professional and technical activities, administrative and support services, education, healthcare and social work, arts and entertainment, mining and quarrying, transformative industries, construction, wholesale and retail, transportation and warehousing, hospitality and residency services will be affected.

They will have to do so in line with Cabinet Decision No. 33/5W/2023, which will come into force in January 2024.

The companies were selected in line with specific criteria and information, including the quality of their jobs, the extent of their compatibility with Emiratisation goals, geographic locations, growth and other conditions that would attract Emiratis to work in these economic activities and ensure job continuity.

The activities were also chosen because of their rapid growth rate and ability to provide jobs and a suitable work environment.

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UAE: Implementation Date of New Pension Law Announced

Al Bayan, 27 November 2023: The UAE’s General Pensions and Social Security Authority has announced the implementation date of the new Pension Law.

They announced Federal Decree-Law No. 57/2023 will apply to citizens joining work for the first time from 31 October 2023.

The Authority added that entities affiliated with it are employers in the federal and local governments in all of the Emirates, apart from local government employees in Abu Dhabi and Sharjah.

The Authority is also affiliated with employers in the private sector in all emirates of the country, except for private sector employers in Abu Dhabi.

Click here to read more.

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