LexisNexis and BSA Ahmad bin Hezeem & Associates LLP host a UAE Mock Trial!

Thank you to everyone who participated in the UAE Mock Trial on 21 November 2022!

In partnership with BSA Ahmad bin Hezeem & Associates LLP, LexisNexis Middle East was pleased to host a ‘UAE Mock Trial’. This interactive event showcased the journey of a bankruptcy case through the Dubai Courts, from the initial sessions before the Court of First Instance to the Final Verdict and ultimately arriving at the Court of Appeal.

The BSA team provided step-by-step guidance through the Courts procedure when handling bankruptcy cases and delved into how the recently amended UAE Bankruptcy Law

• Impacted Director liabilities in the event of bankruptcy;
• Provides a rescue culture and a remedy to struggling firms needing debt relief.

They also looked at the punitive provisions of the law. Thank you to all participants, specifically the BSA team, for making this event a success!

Abu Dhabi: Public Warned About Issuing of Forged Commercial Licences

23 November 2022: Abu Dhabi Global Market’s (ADGM) Registration Authority (RA) has issued an alert to the public to look out for people issuing forged RA commercial licences under the name Emirates Commercial Insurance LLC. 

The RA stresses that Emirates Commercial Insurance LLC is not incorporated in the ADGM or licensed to conduct business in the ADGM. 

Falsely claiming registration to conduct business in the ADGM can lead to a fine of up to US$15,000 per contravention. 

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

UAE: Consultation Launched to Seek Views on Regulation of Money Laundering

Arabian Business, 22 November 2022: The UAE’s Public-Private Partnership Sub-Committee (PPPSC) has issued a draft report as a consultation paper, seeking comments and feedback from relevant stakeholders on a proposed regulatory approach to curb money laundering and terrorism financing activities. 

The PPPSC has recommended a formal sharing agreement relating to strategic information and intelligence between the public and private sectors, as well as strict rules for confidentiality and data protection for information sharing. 

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

UAE: Employers Must Pay End-of-Service Rewards to Assistant Workers

Emaratalyoum, 13 November 2022: The UAE’s Human Resources and Emiratisation Ministry has confirmed that employers are required to pay end-of-year service rewards to assistant domestic workers at a rate of 14 days’ salary for each year of service. 

The employee is entitled to the reward provided they have completed a year or more of service with their employer, and the sum will be paid once the contract or work relationship finishes. 

The ministry also confirmed that the 19 professions within the scope of domestic service employment include sailor, guard, farmer, driver, and private trainer.

For the full story, click here.

To view more news items and other available content, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East trial lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

UAE: All Coronavirus Restrictions Scrapped

Albayan, 7 November 2022: The UAE’s National Emergency Crisis and Disaster Management Authority has announced that all restrictions and precautionary measures relating to the coronavirus will be scrapped, effective from 7 November 2022. 

The wearing of masks will continue to be mandatory in health facilities but is now optional in all other open and closed facilities. 

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Dubai: Crypto Token Regime Comes into Force

1 November 2022: The Dubai Financial Services Authority has announced that its Crypto Token regime has come into force to encourage responsible and transparent innovation while meeting regulatory requirements.

The regime addresses risks relating to consumer protection, market integrity, custody and financial resources for service providers. It also covers risks relating to trading, clearing, holding or transferring Crypto Tokens. 

Further information on the regime can be found here.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Dubai: Clean Energy Now 12.8% of Total Capacity

Emirates News Agency, 1 November 2022: The head of Dubai’s Electricity and Water Authority has announced the addition of 300 megawatts (MW) of photovoltaic solar energy in 2022, bringing the share of clean energy to 12.8% of the total installed capacity. 

The increase in solar capacity was from the 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park, which aims to have a production capacity of 5,000 MW by 2030. 

When completed, the project will have the world’s largest thermal storage capacity of 15 hours, bringing around the clock energy availability. 

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

UAE’s National Bonds investment company has announced a new ‘Golden Pension’ scheme

Khaleej Times, 13th October 2022: UAE’s National Bonds investment company has announced a new ‘Golden Pension’ scheme allowing private sector employees to contribute as little as Dh 100 a month in addition to the gratuity provided by their employer.
The scheme allowing employees to earn a profit on the amount they save is part of a drive to support companies with employee retention. It aims to help 89% of the UAE’s population that is expats with retirement planning.
Expats whose employers have signed up with National Bonds may sign up for the scheme.
Sukuks (savings bonds) will be issued under the employees’ accounts with National Bonds based on the allocation provided by the company of the contributed funds. The Sukuk may only be redeemed at the company’s request.

For the full story, click here.

To view more news items and other available content, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East trial lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

UAE Introduces Emergency Travel Document E-Services for Emiratis

Arab News, 11 October 2022: The UAE has rolled out a new service allowing Emirati travellers returning from abroad to enable them to obtain emergency travel documents if their passports have expired or have been lost.
The ‘e-return document’ platform allows travellers to obtain a return document in less than 30 minutes and provides documentary support for newborns.
Emirati travellers can apply for this service on the Ministry of Foreign Affairs and International Cooperation’s website.

For the full story, click here.

To view more news items and other available content, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East trial lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.