Dubai: Region’s First Smart Court to be Launched

Alroeya, 26 September 2021: The Jebel Ali Free Zone and Dubai Courts have announced they have launched the region’s first smart court.

It will consider the cases related to labour disputes for companies registered in the Free Zone.

The parties to a dispute will be able to attend a virtual court which will be connected with the Dubai Courts.

The smart court will create an environment similar to the classical courts with more integrated services. Almost 8,500 companies from 140 countries will benefit from the court’s services.

The aim of launching the smart court is to create a flexible judicial environment which will protect employee’s rights in the free zone and help improve judicial proceedings.

For full story, click here.

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Ummal Quwain: Foreign Freehold Real Estate Ownership Decision Issued

Ummal Quwain’s Ruler has issued Ummal Quwain Decision No. 4/2021 on foreign freehold real estate ownership in the Emirate.

Under the Decision, foreigners, limited liability companies partially owned by foreigners, free zone companies and offshore companies will be able to own freehold real estate ownership.

Any legislation which contradicts or contravenes it will be repealed.

It also states specific freehold ownership zones will be determined under a Decision from the Ruler and taking real estate development, freehold real estate ownership for foreigners or any other relevant considerations into account.

It will be published in the Official Gazette and come into force on its issued date.

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Dubai International Financial Centre Issues Employment Law Amendments

Dubai’s International Financial Centre has enacted the Employment Law Amendment Law, DIFC Law No. 4/2021.

It brings the Qualifying Scheme regime under the Employment Law in line with the DFSA’s Employee Money Purchase Scheme, so that only a single layer of regulation is applied to these schemes.

The amendments also clarify the application of limitation periods to claims made under the Employment Law, the accrual of vacation leave, the duration of the probationary period for short term fixed-term contracts and certain definitions in the Law.

In addition, it modifies the basic workplace health and safety requirements under the Employment Law, to take working from home arrangements into account.

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Dubai: Emirates Maritime Arbitration Centre to be Dissolved

Dubai’s Ruler has issued Dubai Decree No. 34/2021 dissolving the Emirates Maritime Arbitration Centre.

The Dubai International Financial Centre Arbitration Institute will also be dissolved.

Their operations and assets will be emerged into a Dubai International Arbitration Centre. It will be an independent non-profit institution and will provide regional and international business communities with world-class arbitration services.

Ownership of real estate, assets, funds, staff, financial allocations and membership base will also be transferred to the new Centre.

The Decree specifies the Centre’s objectives, functions and organisational structure. It will have a Board of Directors as well as an arbitration court which will be established in line with the new structure and an administrative unit.

The court will have 13 members, including a President and Vice President. Its members will have locally and internationally accredited arbitration expertise and will be appointed by decisions of the Centre’s Board of Directors for a non-renewable term of four years.

Dubai Decree No. 10/2004 will be repealed.

The Dubai Courts and DIFC Courts will continue to hear claims, applications and appeals related to arbitration proceedings conducted in tribunals of the dissolved arbitration centres.

Anything which contradicts or contravenes the Decree will be repealed.

The Centre will have to comply with the Decree within six months.

The aim is to boost the efficiency of the Emirate’s alternative dispute resolution sector and reinforce its status as a global arbitration hub. Also reported in Alroeya on 18 September 2021. For full story, click here.

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Abu Dhabi: Creative Media Authority to be Established

Alroeya, 15 September 2021: Abu Dhabi’s Ruler has issued a law establishing a Creative Media Authority.

It will report to the Culture and Tourism Department.

It will be responsible for promoting the growth of the creative sector in the Emirate and providing the necessary infrastructure for the prosperity of creative institutions.

This will be done by regulating and supervising the activities of creative media production for private sector companies and developing initiatives to attract, motivate and develop talents in the creative field as well as SMEs. For full story, click here.

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UAE: Emiratisation Quotas for Private Companies Announced

Arab News, 12 September 2021: The UAE Government has announced Emiratisation quotas for private companies.

The quotas mean private company employers will have to ensure 10% of employees are Emiratis.

These companies will have five years to comply.

For the first year, the requirement will be 2%.

It will only apply to skilled labour positions.

In addition, 24 billion AED will be allocated to create 75,000 private sector jobs for Emiratis.

There will also be allowances, bonuses and other monetary incentives for UAE nationals, especially those working in programming, nursing and entrepreneurship.

Elsewhere, Emirati Government employees who want to set up their own business will be granted partially paid leave of absence for up to a year.

Training programmes for Emiratis transferring from the public to private sector will also be hosted.

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UAE: Data Privacy Law on the Way

Khaleej Times, 5 September 2021: The UAE authorities have announced a data privacy law is on the way.

It will be introduced as part of the Projects of the 50 programme.

It will be drafted together with major technology companies.

It will be the country’s first law in this area and will enable individuals to control the way their personal information is used, stored and shared.

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Abu Dhabi: Energy Department Issues Regulatory Policy for Clean Energy Certificates

Abu Dhabi’s Energy Department has announced it has launched a Regulatory Policy for Clean Energy Certificates.

The Policy sets out the regulations and principles for implementing a clean energy certificates scheme in the Emirate.

It follows news last week that the Department has been granted powers to issue these certificates.

It is aimed at helping to reduce the carbon footprint of power generation in the Emirate and providing a reliable accreditation system.

The Clean Energy Certificates scheme has been modelled on the internationally recognised attribute tracking system for renewable energy certificates developed by the International Renewable Energy Certificate Standard Foundation (I-REC Standard).

The I-REC Standard is responsible for providing a single central registry platform and the I-REC Registry will keep and update records of the full lifecycle of ownership and use of the issued Clean Energy Certificates. It will record all trading transactions, verify claims and ensure there is no Clean Energy Certificate double counting.

The Emirates Water and Electricity Company will act as a Single Registrant for the electricity injected into the grid from DoE licensed generation entities.

They will also ensure all generation plants producing clean energy in the Emirate are listed in the I-REC Registry. Businesses or consumers who want to obtain a clean energy certificate can act as Participants but will have to open an account in the I-REC Registry platform.

The certificates will be issued in units of 1 MW/h after receiving a request from the Single Registrant. The Participants can then purchase certificates and allocate beneficiaries.

Clean Energy Certificates are voluntary tradeable financial instruments which certify the purchase of a specific amount of electricity which has been generated from a clean energy source. Once the solar or nuclear energy is fed into the grid, the Clean Energy Certificates can be traded as credits to claim the environmental and social benefits of low carbon energy consumption.

Anyone can act as a Participant and can purchase the certificates and sell them in whole or in part to end customers. The Single Registrant can also act as a Participant if they are approved by the Energy Department. This allows anyone to benefit from the system, regardless of their level of consumption. Anyone can buy certificates which guarantee the electricity they consume does not emit carbon.

Unlike I-REC systems in other regions, the Energy Department will not charge for acting as a local Issuer.

Also reported in Alroeya on 29 August 2021. For full story, click here.

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Dubai: Specialist Anti-money Laundering Court Established

Following directives from the UAE’s Vice President and Prime Minister and Dubai Ruler, a specialist anti-money laundering court is going to be established in the Dubai Courts.

It will be part of the Court of First Instance and Court of Appeal.

It is the latest anti-money laundering move in the country.

The new court will support the Emirate’s efforts in tackling financial crimes, including money laundering.

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UAE: Central Bank Issues New Hawala Providers Guidance

The UAE’s Central Bank has announced it has issued new guidance on anti-money laundering and tackling terrorist financing to Registered Hawala Providers and Licensed Financial Institutions who provide services to them.

It came into force today.

It was issued after considering Federal Decree-Law No. 20/2018 and Cabinet Decision No. 10/2019 as well as Financial Action Task Force standards and guidance.

RHP have to comply fully with UAE requirements relating to targeted financial sanctions and suspicious transaction reporting). They also have to establish and maintain an effective anti-money laundering and terrorist financing compliance programme to prevent misuse of this activity to facilitate money-laundering or terrorist financing. This programme should include a competent compliance officer, appropriate customer and agent due diligence, transaction monitoring and record keeping.

In addition, they have to maintain an account with a bank operating in the UAE to be used for settlement and provide the Central Bank with details.

Licensed Financial Institutions should accept RHP customers and manage any risks from these transactions through appropriate controls. These institutions must not accept customers who are unregistered hawala providers based in the UAE and must immediately report an STR to the UAE’s Financial Intelligence Unit. They should also advise the Central Bank when they are detected and closely monitor the relationship.

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