Law Firm ILN-telligence Podcast | Episode 74: Ziad Salloum, Salloum & Partners, United Arab Emirates
The onshore Dubai Court of Cassation (Commercial Appeal No. 735 of 2024, dated October 29, 2024) has held that a unilateral option to arbitrate, included within an asymmetrical jurisdiction clause, did not constitute a...more
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
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
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
In the UAE, Bank Loans Offered to Individual Customers are governed by Regulation No. 29/2011 Regarding Bank Loans & Other Services Offered to Individual Customers. Additionally, the Central Bank of the UAE issued Central...more
Recognising new realities in decentralisation, the regulations aim to provide market players with governance flexibility within distributed ledger technology foundations. On 2 October 2023, the Board of Directors of Abu...more
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
With so many new, emerging risks coming to the forefront, ACI is excited to announce our Digital Assets Compliance: AML, Sanctions and Regulatory Oversight. Unlike other conferences, this highly anticipated event stands apart...more
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
The Dubai International Financial Centre (DIFC) is a prestigious financial free zone in the United Arab Emirates (UAE), established to diversify Dubai's economic resources and attract capital and investments to the region....more
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
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
The UAE is the Middle East’s leading financial center and a global hub for trade, particularly in gold and precious metals. This large presence within the global financial system makes it a target for financial crime,...more
The guidance is part of the rapidly evolving rules on anti-money laundering and aims to promote UAE as a jurisdiction compliant with best practices. On August 1, 2022, the UAE Central Bank (CBUAE) issued the Guidance for...more
On 1 August 2022, the Central Bank of the United Arab Emirates (the "CBUAE") issued "Guidance for Licensed Financial Institutions ("LFIs") on the risks relating to payments" (the "Guidance")....more
Talks between the U.S. and Iran to revitalize the nuclear deal may have stalled but they are far from dead. There is still optimism that the agreement to limit Iran’s ability to make weapons-grade uranium, in return for a...more
The United Arab Emirates (the “UAE”) has announced a new division of its court system established specifically to hear cases relating to money laundering and financial crime. This new Court, an integral element of the UAE’s...more
The promotion of green finance and investment in sustainable projects continues to be a key policy of the government of the United Arab Emirates (UAE). The UAE government (with its related entities) has traditionally been the...more
The Government of Dubai Media Office announced the establishment of a specialist court to hear cases relating to money laundering and financial crime. This is one of several steps taken over the last few years to tackle...more
Through updated guidance, the UAE has introduced a significant change to how it administers sanctions regimes—expanding its focus from a limited implementation of multilateral sanctions to more broadly imposing its own...more
In September 2020, the UAE Cabinet of Ministers (the Cabinet) issued Law No. 26 of 2020 (the Amendment) which amended certain provisions of the UAE Companies Law No. 2 of 2015 (the Companies Law). The amendments include...more
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
Investors and investment managers around the globe are seeing increasing rules and regulations on how they can deploy their money, how they can advertise their services, and how they have to report to regulators. ...more
Recently, Abu Dhabi Global Market (ADGM), an international financial centre in Abu Dhabi, announced the launch of a new regulatory framework (the Framework) for operators of Private Financing Platforms (PFPs). PFPs will...more
U.S. Developments - Regulatory Updates - FinCEN Issues Advisory on Illicit Iranian Activities - On October 11, 2018, the U.S. Treasury Department Financial Crimes Enforcement Network (“FinCEN”) issued an advisory to...more