UAE Archives - Page 89 of 93 - LexisNexis Middle East

UAE: Amendments to ADGM Data Protection Regulations have been approved

20/01/201811/12/2019
by Benjamin Filaferro

Abu Dhabi’s Global Market has announced amendments to its Data Protection Regulations have been approved. The amendments come into force on 1 February 2018. The amendments include updated defined terms, data breach notification timeframes and deadlines for notifications to the Registrar, along with expanded enforcement provisions. They expand the list of jurisdictions designated in the Regulations as providing an adequate level of protection of personal data. The additional jurisdictions include Andorra, the Dubai International Financial Centre and the Faroe Islands. The amendments follow the establishment of the Abu Dhabi Global Market Data Protection Office last month.

News developments

UAE: expatriates looking to work in the country to provide a good character certificate

14/01/201811/12/2019
by Benjamin Filaferro

The UAE’s Coordination Committee has adopted Ministerial Decision No 1/8/2017 requiring expatriates looking to work in the UAE provide a good character certificate as a precondition for obtaining work permits from 4 February 2018. The Committee added the certificate should be issued by the country of the expatriate or the country in which they have resided for the last five years. The certificate should be endorsed by the UAE mission aboard or the endorsement offices of the Foreign and International Cooperation Ministry.

News developments

Dubai: New regulations to allow repurchase agreements

06/01/201811/12/2019
by Benjamin Filaferro

Dubai’s Financial Market has announced it has issued two new regulations to allow market participants to implement both repurchase agreements (Repo) and Islamic Murabaha transactions. It follows the UAE’s Securities and Commodities Authority approval of the proposals. The regulations have been issued in line with international best practices as well as after full consultation with various market participants.

Weekly Spotlight

Weekly Spotlight: UAE has changed the payment terms of substitute teachers in public schools

24/12/201711/12/2019
by Benjamin Filaferro

This week the spotlight is on education, employment, and immigration developments in the United Arab Emirates, where Ministerial Decision No. 46/2017 has been issued changing the payment terms of substitute teachers in public schools. Nominees with the required specialisations and qualifications will be selected to be a part of a substitute teacher incentives system. Highest priority for this programme will be given to Emirati nominees, followed by children of Emirati women, and then Gulf citizens. The decision has also stated substitute teachers at nurseries will be paid 500 AED per day (for a maximum of five days per week). Substitute teachers will also be paid 100 AED per school periods taught, up to a maximum of 30 periods per week. However, rates will be different for those teaching certain subjects The decision states that the Ministry of Education must include mechanisms for establishing a database of substitute teachers, from which the minister has the right to add, remove or update subjects in this resolution’s third article, in addition to the value of fees paid for specific school activities and subjects. The decision states substitute teachers will be called on to cover for an absent regular teacher, and that human resources procedures set by the Federal Authority for Human Resources must be followed when choosing these teachers.

Elsewhere, a fake story doing the rounds on social media that visas for Pakistani nationals had been suspended has been officially denied by the UAE General Directorate of Residency and Foreigners Affairs. The story was even picked up by TV channels who quoted officials from the Travel Agents Association of Pakistan, who said the visa service has been suspended until further notice, although those who already had a visa would still be able to travel. It was claimed the suspension was temporary and would possibly be changed in the new year.

News developments

Abu Dhabi: Launch of a new registration system for all engineers in the Emirate

17/12/201711/12/2019
by Benjamin Filaferro

Abu Dhabi’s Urban Planning and Municipalities Department has announced it has launched a new registration system for all engineers in the Emirate. The ‘Become an Abu Dhabi Registered Engineer’ is aimed at ensuring all engineers in the Emirate register their qualifications at https://eservices.adm.gov.ae/engineers/public/secure/login. To register, engineers must present a valid ID card and a bachelor’s degree in engineering or equivalent qualification. Authenticated certificates issued by the relevant authorities and established universities will also have to be presented when registering. In addition, they will have to submit a Human Resources and Emiratisation Ministry employment card or a valid investor card if they are working in the private sector and a continuation letter of employment within one month of its issued date. Once approved, they will get an official card which allows them to work in the Emirate.

News developments

UAE: Work permit fees to work in the country have been amended

10/12/201711/12/2019
by Benjamin Filaferro

The UAE’s Human Resources and Emiratisation Ministry has announced work permit fees to work in the country have been amended. The fee levied will now depend on a worker’s skill level, whether they will work in the country or outside of it as well as the establishment category in the classification system. Establishments employing GCC nationals and fishing boat businesses will be exempt from the fees. The Ministry has also started classifying businesses differently. The classification will now be done according to skill levels, particularly whether skilled workers or limited skill workers are employed.

Weekly Spotlight

Weekly Spotlight: Cabinet has approved the Implementing Regulations to the Federal VAT Law

03/12/201711/12/2019
by Benjamin Filaferro

This week the spotlight is on VAT developments in the UAE, where the country’s Cabinet has approved the Implementing Regulations to the Federal VAT Law, Federal Decree-Law No. 8/2017. Cabinet Decision No. 52/2017 is yet to be Gazetted but its priority translation has been requested from our Publishing Partners, SADER Legal Publishing.

In a separate but related development, the Director General of the UAE’s Federal Tax Authority, Khaled Al Bustani has said the introduction of VAT in the country will not be delayed, despite calls from prominent organisations like the UAE Banks Federation for it to be to allow them more time to prepare. VAT will be introduced in the UAE on 1 January 2018. Al Bustani added the Authority is seeing a surge in registrations as the registration deadline looms.

News developments

UAE: New Dubai Endowment Law

25/11/201711/12/2019
by Benjamin Filaferro

New Dubai Endowment Law details were discussed at a press conference by the Awqaf and Minors Affairs Foundation (AMAF) which was held in conjunction with the Mohammad Bin Rashid Global Centre for Endowment Consultancy (MBRGCEC). Under the law, which received Royal approval last month, private individuals, companies and organisations will be allowed to establish their own endowments, whether these are for educational, health, cultural, environmental, arts or sport reasons. Until now, the general practice has been for potential donors to make contributions AMAF in order to support endowment projects managed completely by AMAF, the Dubai endowment regulator. AMAF currently manage over 2.7 billion AED in assets, which include endowments. Under the new law they are mandated to receive all necessary documentation from endowment bodies who wish to be formally registered. AMAF will carry out a careful review of the documentation and issue waqf licenses to the applicants within 10 working days and then submit the licences to MBRGCEC. The MBRGCEC will issue a Dubai Endowment Sign to the body, which will enable them to operate as full-fledged endowment institutions and carry out their work. The Endowment Law Dubai Law No. 14/2017 has come into force. Endowment institutions will be licensed by AMAF, but will enjoy independence in terms of the management of their financial affairs within the framework of the licensing rules and regulations and the prevailing governance system of endowment institutions. AMAF will also monitor these institutions to ensure they achieve their goals and remain committed to this law and preceding laws pertaining to endowments. AMAF, as a regulator, will monitor the revenue and expenditure of endowments, and ensure the money is spent according to the declared and agreed purpose of the endowment. However, it will be possible to legally change the purpose and nature of an endowment over time by following specific procedures. This new law is expected to enhance the MBRGCEC’s role in granting the Dubai Endowment Sign to institutions which are engaged in community work based on the waqf concept. The law mandates institutions which hold the Dubai Endowment Sign to be granted special privileges in areas including government procurements, setting up and selecting contracts. Entrepreneurs are being invited to secure a licence for their waqf institutions so that they can implement community programmes in various fields.

Weekly Spotlight

Weekly Spotlight: New laws will be issued to stop the unauthorised sale of antibiotics

25/11/201711/12/2019
by Benjamin Filaferro

This week the spotlight is on health and insurance developments in the United Arab Emirates, where the Ministry of Health and Prevention is promising new laws will be issued to stop the unauthorised sale of antibiotics, amidst growing fears that their overuse worldwide could create drug-resistant bacteria. As well as creating a new law, the ministry has stated it will work with local health authorities to more closely supervise and inspect pharmacies across the UAE. There is a particular concern about the estimated 2,400 private pharmacies which operate outside hospital networks, where unauthorised dispensing of prescription drugs is most prevalent. The ministry will also seek to make doctors more aware of the need to prescribe antibiotics only when they needed, and to make sure they give accurate doses and the correct strength.

Elsewhere, the Insurance Authority is preparing a new legal framework to regulate reinsurance activities. Experts in the field have stressed on the importance of intervention by the Authority as a means of setting the necessary standards for the sector. It has been said been said by some that there has been a lack of commitment from some companies to risk management and on the calculation of their percentages.

Weekly Spotlight

Weekly Spotlight: ADGM announced that businesses registered with them will also be licenced to operate onshore in Abu Dhabi

19/11/201711/12/2019
by Benjamin Filaferro

This week the spotlight is on legal and regulatory developments in the Abu Dhabi Global Market, where they have announced businesses who register to operate with them will also be licenced to operate onshore in Abu Dhabi. It follows an agreement between the Global Market and Abu Dhabi’s Economic Development Department. Under the agreement, entities established in the Global Market will be able to hold dual licences providing they satisfy and fulfil the requirements of each jurisdiction and operate according to their rules and regulations. Entities with dual licences will not have to be physically present in Abu Dhabi. However financial service firms will still be subject to the relevant regulatory obligations and applicable laws, including any licencing requirements which may be imposed by any Federal financial service regulators.

Elsewhere, the Market’s Financial Services Regulatory Authority has launched a consultation on its proposed Remote Membership Framework plus other miscellaneous amendments aimed at boosting its capital market regime. The consultation ends on 2 January 2018. If approved, brokers from outside the Global Market would be able to access the Market’s exchanges and clearing houses. This would expand international investor participation in the Market, facilitates cross-border flows and increase liquidity for the Market’s capital market.