News & Analysis as of

Financial Services Industry United Arab Emirates (UAE)

King & Spalding

The Evolving Face of Finance: Private Credit’s Role in the Middle East – Market Recap and 2025 Outlook

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The Gulf Cooperation Council region (the GCC) is becoming an ever-more important destination for the global private credit market. In this client briefing we explore the region’s rising prominence as a key destination for...more

Awatif Mohammad Shoqi Advocates & Legal...

Understanding the significant improvements to the VAT Executive Regulations in the UAE.

The Federal Tax Authority (FTA) of the UAE recently amended some provisions of the UAE VAT Executive Regulations, particularly Cabinet Decision No. 52 of 2017, on the Implementing Regulation of Federal Decree-Law No. 8 of...more

Cadwalader, Wickersham & Taft LLP

Miami Bound February 2025 - The UAE: A New Private Credit Oasis?

Private Credit is a hot – if not the hottest – asset class right now. This asset class has a nexus to a number of Cadwalader’s practices from fund finance to capital markets and beyond. To that end, last week we attended the...more

Awatif Mohammad Shoqi Advocates & Legal...

Cheque Bounce in 2025

In simple words, a cheque is an order to a bank to pay a particular sum of money from the account of the issuer of the cheque, written on a specifically printed form. The issuer of the cheque is called the drawer, while the...more

A&O Shearman

UAE's enhanced AML and CTF Regime: a journey from grey list to compliance

A&O Shearman on

The UAE has continued to implement significant legislative and structural reforms during 2024 in areas including financial crime compliance, whistleblowing, and virtual assets regulation. These improvements demonstrate the...more

Awatif Mohammad Shoqi Advocates & Legal...

The Implication Of Imposing Interest In The UAE

In the current world, where trade ties are vital in strengthening the economy of a country, it is often necessary to enter into legal contracts with various entities around the world. It is also necessary that these contracts...more

A&O Shearman

The UAE clamps down on money laundering with amendments to AML laws and its national strategy

A&O Shearman on

The UAE announced a new ‘National Strategy for Anti-Money Laundering, Countering the Financing of Terrorism and Proliferation Financing for 2024 – 2027’ (the National Strategy) in September 2024. This will affect not only UAE...more

Awatif Mohammad Shoqi Advocates & Legal...

New Amendments to the UAE Banking Law: Enhancing Efficiency and Stability

In recent years, the UAE has continuously updated its legal framework to enhance regulatory oversight and adapt to global financial trends. One significant development is the amended Federal Decree-Law No. 14/2018 on the...more

Morgan Lewis

ADGM Issues Real Estate Consultation Paper: Changes to Real Estate Regulations

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The Abu Dhabi Global Market (ADGM) recently issued a consultation paper seeking opinions on how to revamp its real estate legal framework in light of the expansion of the ADGM territory to include Al Maryah Island and Al Reem...more

Awatif Mohammad Shoqi Advocates & Legal...

Navigating New Rules: Challenges for Investors and Banks in UAE Banking Law Amendments

The Federal Decree-Law No. 14/2018 on the Central Bank and the Organisation of Financial Institutions and Activities, along with its recent amendments outlined in Federal Decree-Law No. 54/2023, has introduced significant...more

Awatif Mohammad Shoqi Advocates & Legal...

Regulating Unlicensed Virtual Asset Providers: A Comprehensive Guide

In recent years, the world has witnessed rapid growth in the popularity and adoption of virtual assets, including cryptocurrencies, non-fungible tokens (NFTs), and various other digital assets. With this rise, however, comes...more

White & Case LLP

Unlocking Potential: GCC FinTech Trends, Regulations and Funding Outlook

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The Gulf Cooperation Council ("GCC") region, particularly the United Arab Emirates ("UAE") and the Kingdom of Saudi Arabia ("KSA"), is experiencing a dynamic transformation in its financial sector driven by the rapid rise of...more

White & Case LLP

The rise of Private Credit in the United Arab Emirates

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As creditors continue to look across the global market for strategic opportunities, the United Arab Emirates (the "UAE") is primed to emerge as a relatively untapped well of potential for private credit providers....more

Dechert LLP

Multiple Governments Impose Joint Sanctions on Russia

Dechert LLP on

On the second anniversary of the start of the war in Ukraine and in response to the death of activist Aleksey Navalny in a Russian prison, the United States, European Union, and United Kingdom, along with Australia and...more

Conyers

B2B, B2C, BVI – Crypto Disputes in the Caribbean

Conyers on

In the crypto world, does it really matter where you are? Is there a sunny offshore paradise perspective on the click of a button and a fintech trade? The answer lies as usual in how to unravel a problem should it arise. Both...more

King & Spalding

Real Estate of Mind: Takeaways from IFN UK Forum 2023

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The annual IFN UK Forum 2023 was held in London in September 2023 and, once again, was a well-attended event, giving attendees a chance to connect and reconnect with colleagues, clients and friends alike from all over the...more

White & Case LLP

Repos in Islamic Finance – 2

White & Case LLP on

1. Repos in the Islamic market - In our article titled "Repos in Islamic Finance"1 we concluded that Shari'ah-compliant repurchase transactions ("Repos") could play a useful role as a liquidity management instrument to...more

Awatif Mohammad Shoqi Advocates & Legal...

Security Initiatives in the UAE: Impact on Crime Reduction

The UAE is committed to ensuring the safety and security of its citizens and residents through a series of strategic initiatives. These efforts encompass various aspects of law enforcement, public engagement, and legal...more

BakerHostetler

Fintech Firms Launch New Products; Crypto Guidance Published by CFTC, EBA, UAE; OFAC Adds Public Keys to SDN List; CFTC, NY AG...

BakerHostetler on

Crypto Firms Announce New Product Launches in Custody, Stablecoins, Wallets - According to a recent press release, Prometheum Capital has received the first-ever approval from the Financial Industry Regulation Authority...more

White & Case LLP

The Increasing importance of Private Credit within the UAE and the Establishment of ADGM Private Credit Funds Rules

White & Case LLP on

Amongst a backdrop of rising inflation and interest rates, the past two years have seen an exponential rise in the activity of private credit funds within the United Arab Emirates and the broader Middle East....more

Morgan Lewis

A Trending Hedge Fund Hub: Key Aspects of ADGM Hedge Funds

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The Abu Dhabi Global Market (ADGM) is fast becoming an international financial hub in the MENA region for global hedge fund managers that are drawn to the quality of the ADGM’s independent regulator, the Financial Services...more

Morgan Lewis

A Hedge Fund Hotspot: Five Key Aspects of the DIFC Hedge Fund Regime

Morgan Lewis on

It is no secret that the Dubai International Financial Centre (DIFC) is having discussions with over 50 hedge funds regarding the establishment of asset management and fund operations in the DIFC. Considering the rapid and...more

Morgan Lewis

Emirates Securities and Commodities Authority Limits Foreign Fund Marketing in UAE

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The Emirates Securities and Commodities Authority (SCA) recently issued eight decisions which, among other things, reform the regulatory regime for investment funds domiciled in the onshore United Arab Emirates (UAE) and...more

McDermott Will & Emery

New Whistleblowing Regime Introduced by the Dubai Financial Services Authority

McDermott Will & Emery on

On 7 April 2022, changes to DIFC Regulatory Law 2004 and the DFSA Rulebook came into force, to implement proposals concerning a whistleblowing regime that were consulted on by the DFSA in 2021. The Regime applies to all...more

BCLP

Emerging Themes in Financial Regulation 2020

BCLP on

Under the Senior Managers and Certification Regime (“SMCR”), firms are required to identify and report to the FCA any instances of disciplinary action taken in relation to conduct that would amount to a breach of one of the...more

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