The concept of Limitation Period and its application in tortious liability under the UAE Legal System
Introduction – The concept of limitation periods has been principally adopted by the UAE legislator from the doctrine or the fiqh of two (2) Islamic scholars, namely “ Al Maliki “ and “ Al Hanafi “, considering that the UAE constitution provides in its Article seven that the Islamic Shari’ah is the principal source of …
Bank Guarantees and Employee’s Protection Insurance Schemes
On 20th September 2021, the Federal Decree Law No. 33 of 2021 (the “Federal Labor Law”) was issued, which superseded the abrogated Federal Law No. 8 of 1980 on Labor Relations. The Federal Labor Law came into force on 2nd February 2022 and currently, governs the labor/ employment relations in the UAE.
Legal Changes Impacting the Capital Market and Joint Stock Companies in UAE
Federal Law No. 32 of 2021 on Commercial Companies (“New CCL”) came into effect on 2nd of January 2022 to entirely replace Federal Law No. 2 of 2015 on Commercial Companies (“Old CCL”).
The Future of Virtual Assets in Dubai
Introduction: Back in 2021, at “Connect 2021” conference, the Facebook founder Mark Zuckerberg had announced a new era in social media history, via his new project, named, MetaVerse (“Meta” or “MetaVerse”) that is a wide-ranging and interoperable network of 3D virtual worlds, where these worlds are presented in real time, they can be tried simultaneously …
The Seat of Arbitration & Its Significance
Introduction The seat of arbitration, not to be confused with the geographical location of arbitration hearings, is an important aspect in both international and domestic arbitrations, and one that is often overlooked or not given proper consideration.
Principles of Anti-Money Laundering and Combatting the Financing of Terrorism
Introduction and Applicability of the Regulations Money laundry is a process by which the source of illegal funds is disguised to allow its unsuspicious expenditure by mitigating the risks associated with jeopardizing the source of such illicit funds. Often, terrorist and illegal organizations utilize laundered money to fund themselves and their operations. Hence, both activities …
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UAE’s New Federal Law on Countering Rumors and Cybercrimes– Key Amendments
The UAE Federal Law by Decree No. 34 of 2021 (the “New Law”) on Countering Rumors and Cybercrimes was introduced in the UAE amongst the new legislative introductions in light of UAE’s 50th anniversary which has now come into force on January 2nd, 2022. The New Law is a reform of the repealed Federal Law …
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The Concept of Dispute in the UAE Courts
Overview: Generally, filing a case is deemed to be the right to resort to litigation and/or courts to seek and to protect a legal position claimed by the claimant(s) against the defendant(s), conditional to the satisfaction of the capacity of the parties of the said proceedings (the “Case”).
The Notice Period Under UAE Federal Decree by Law No. (33) of 2021 Regulating Labour Relations.
Background The UAE’s labor laws and regulations have undergone immense changes in the past few years that cater to the ever-growing market demands and its accompanying legal framework. Federal Decree by Law. (33) of 2021 (“2021 law”) which repeals Federal Law No. 8/1980 Concerning the Regulation of Labor Relations has introduced significant changes entering into …
Work patterns under the Federal Labour Law
Background: The Covid-19 pandemic and its global implications and fluctuations (the “Covid-19 Implications”) have negatively affected the global economy; however, the said pandemic highlighted several positive points that could not have been raised without the pandemic and the virus exposure all over the world. One of the most important positive points resulted from the Covid-19 …
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