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Gana Gas PJSC (Dana Gas), the Abu Dhabi Stock Exchange listed, UAE-based energy producer, commenced restructuring negotiations with a number of its creditors in May 2017.

What are the key difference in the legislation in the UAE and other key international jurisdiction?

The Shariah has played a significant role in the growth of family enterprises in the Arabian Gulf.

Islamic finance blends traditional Sharia principles with modern legislation, and the UAE has been at the forefront of adopting models such as Murabaha, Mudaraba, and Musharaka.

Article 31 of the New Companies Law confirms the existing position that only a Private Joint Stock Company or a Public Joint Stock Company may issue bonds and sukuk.

General duties of employees are spelled out in the Employment Regulation.

Gulf Cooperation Council (GCC) countries are in the top 10 countries worldwide to be facing 'extremely high water stress' - meaning 80% or more of all available surface and groundwater in an average year being consumed.

In our previous issue, we discussed the Shariah principles of ijara, simple ijara, ijara wa iqtina, ijara mawsufa fi al dimmah, istisna'a, and how ijara and mawsufa fi al dimmah work.