Regulatory & Compliance

Background The Federal Cabinet has recently issued Cabinet Decision No. 29/2021 regarding the Executive Regulations (the “New Executive Regulations”) for the Federal Law No. 4/2020 (the “New Movables Pledge Law”)....

Update to the Saudi Companies Law,Reporting of losses in Saudi Companies, Appointment of auditors, and Remote Board of Directors Meetings As a result of the COVID-19 pandemic, some Saudi Arabian...

In late January 2021, the Small to Medium-Sized Enterprises (SME) Market Conduct Regulation (“Regulation”) was circulated to all banks and finance companies licensed by the Central Bank in the UAE...

BSA corporate associate Bradley Moran has recently been approved as a DIFC Will Draftsman. A DIFC Will is one of the most straightforward ways for non-Muslim expatriates living in the...

The laws around consumer protection in the UAE are continuously evolving and on 25 November 2020, the UAE Central Bank issued the Circular No 8 of 2020, Consumer Protection Regulations...

New SCA Licensing Regime In 2020, the Securities and Commodities Authority (SCA), which is the UAE's financial and capital markets regulator, published a draft new rulebook on financial activities regulated...

BSA & The Legal 500 launch Market Watch - The Future of Finance A report on digital transformation, innovation and the FinTech ecosystem in the GCC BSA are pleased to...

The Future of Finance for SMEs In recent years, the governments of the Gulf Cooperation Council (GCC) have moved to reduce their reliance on hydrocarbons, designing ambitious strategic plans to...

All UAE business owners and managers should be aware of the very recent decision of the Dubai Court of First Instance in the matter of the Bankruptcy of Marka Holdings...

Central Bank Digital Currencies (“CBDC") are a new form of digital currencies, sharing similar functions and the basic value as traditional banknotes and coins in general, such as being a...

The Saudi Arabian government has recently announced a SAR 120 billion (USD 31.9 billion) financial stimulus package to mitigate the economic effects of the COVID-19 outbreak in the Kingdom. This...

The General Authority for Zakat and Tax (GZAT) in the Kingdom of Saudi Arabia (KSA) has announced a number of measures to assist businesses overcome the difficulties arising from the...

Cyrille Naffah, senior associate at the Saudi office of BSA Ahmad Bin Hezeem & Associates LLP, reports on a Saudi Arabian resolution to establish a new commercial arbitration centre in...

The United Arab Emirates (UAE) Insurance Authority recently published the Insurance Authority Board of Directors’ Resolution No. 18 of 2020 on Electronic Insurance Regulations dated 27 April 2020 (“the Regulation”)....

In the past month, a number of achievements have been announced on a regional and global level with regards to the Islamic finance industry. The nature of the progress we...

Regulatory and Advisory Partners at the 5th Annual Middle East & Africa Insurance Summit Hosted by Fleming Gulf on 19 - 20 January 2015 at Habtoor Grand Resort & Spa...

A review of the legal and regulatory framework governing the licensing and importationof telecoms equipment in Saudi Arabia. The telecommunications sector is a vital component of any economy and has...

'Ten years on and Erbil has evolved from a backwater to a modern-day boomtown’ spoken of in laudatory profiles in the international press. Oil rich, stable and with its own...

Introduction In April 2019, the new Commercial Companies Law (the “New CCL”) entered into force and repealed the previous Commercial Companies Law (Law No. 4/1974) in its entirety. Although the...

Rima Mrad, a Partner at Dubai-based law firm BSA Ahmad Bin Hezeem & Associates LLP (former Bin Shabib & Associates), has stated these new requirements should be a positive step...

Anti-corruption Q&A 1. Legal and enforcement framework 1.1 Which legislative and regulatory provisions govern anti-corruption in your jurisdiction, from a regulatory (preventive) and enforcement (criminal) perspective? 1.1.1 The United Arab...

The legislative battle against anti-corruption in the region began in the 1980's. Mamoon Ashraf and Edouard Salwan of Bin Shabib and Associates look at how it has becoame a priority...

This country-specific Q&A, written by Jimmy Haoula and Tyne Hugo,provides an overview to bribery & corruption law in the UAE. The Guide covers the definition of bribery, regulation, compliance, liability...

The recently issued Insurance Authority Prudential Regulations, 25 and 26 of 2014 (collectively the"Regulations"), have been a long awaited and much discussed development in the basic methodology underlying the manner...

The job of an Insurance Regulator is not easy. The Regulator is called upon to make determinations that from time to time, will adversely affect the interests of a group...

Senior Associate, Nadim Bardawil discusses the implications of the new Cyber laws in the UAE on JOSH FM. Topics covered: Awareness of Cyber laws in the UAE Posting of images...

Having been appointed by the UAE Insurance Authority to assist in redrafting the UAE insurance law, Irshied Tayeb, head of insurance, Rima Mrad, partner, and Michael Kortbawi, partner at BSA...

Want to stay on the right side of UAE law? And know what to do should you get on the wrong side? Here’s the essential info you should be armed...

You know the drill: No public displays of affection, no drinking in public, no indecent clothing. When it comes to living in a Muslim country like the UAE, some rules...

Panellist at the 2nd Annual conference -Optimal Successions in Dubai & the UAE. Hosted byAcademy & Finance, held at The Palace Downtown Dubai on 23 November 2015. Topic: Which sources...

Speaker at the 25th D&O Liability Insurance Conference. Hosted by C5, at Grange Tower Bridge Hotel, London, UK on 8 – 9 March 2016. Topic: The Impact of International Sanctions...

The Corporate Counsel Middle East Awards 2016 took place on 12 May 2016 at The Ritz-Carlton, Jumeirah Beach Residence, Dubai, UAE. The awards aim to recognise exceptional achievement by private...

The Middle East is weathering the tumult of low oil prices. Slowly rising oil prices have restored a degree of calm. Some vital sectors such as construction see an uptake,...

A relatively new law means that those who seek help for drug addiction in the UAE are exempt from prosecution. Last year, the UAE government passed a series of laws...

The UAE’s commitment to sharing financial data on individuals and entities under Common Reporting Standards (CSR) has been furthered reinforced by the Insurance Authority Board of Directors Decision No. 32...

Sheikh Mohammed Issues New Endowment Law for Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum has issued Law No.14 of 2017 for regulating endowments in Dubai. The legislation will...

Click here to view the article online. Published: October 2017 Publication: Whatson Title: What you need to know about writing a will in Dubai Authors: Nadim Bardawil and John Peacock...

There is now a cap on all fees and payments paid by insurers to advisers for pure insurance or investment policies. The mis-selling of financial services products has affected many...

UAE Compliance Update Over the past year, several key compliance regulations have been introduced across the UAE. See below a brief summary of these changes and how they may affect...

The Dubai Government issued decree number 6 of 2020 in relation to advertisement regulations. This new decree sets out new guidelines, regulations and permits criteria for all physical advertisements, such...

From asking your bank for a mortgage payment holiday or knowing where you stand when it comes to defaulting on your payments, legal experts in the United Arab Emirates explain...

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai issued Law No. (4) of 2020 (the “Law”) on Saturday,...

UAE amends criminal sanctions involving bounced cheques TheOn 26 October 2020, the UAE Cabinet approved a cabinet resolution amending certain provisions of the Federal Law No. 18/1993 promulgating the UAE...

Bankruptcy Law Update Additional Debtor Relief Options Announced “On 21 October 2020, the Cabinet of the UAE approved amendments to the UAE Federal Law No. 9 of 2016, known as...

Regulation of the Procedures of Real Beneficiary UAE Cabinet passed Decision No. 58 / 2020 to regulate disclosure by corporate entities in the UAEmainland and in the non-financial free zones...

Dubai Introduces the Opportunity to Retire in the Sun ThisDubai has announced a new 5-year visa aimed at those 55 and older, around the globe, to travel to Dubai and...

JAFZA Announces Economic Substance Regulations Notification Deadline JAFZA has issued its guidance in its Annual Economic Substance Notification Form User Guide with respect to the Economic Substance Regulations (ESR). Any...

The National Media Council (“NMC”) has today issued new regulations with the aim of providing clear guidelines for the publishing of all types of electronic media. While the NMC is...

  Excerptfrom slc.dubai.gov.ae In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum issued Law No. (4)...

A new anti-harassment law in Saudi Arabia has significant implications for employers in the Kingdom. Marc Saroufim, Head of Corporate in Saudi Arabia at BSA Ahmad Bin Hezeem & Associates...

Accidental injuries are commonplace in any modern society. Such injuries are usually remedied by courts through compensation and damages awarded to the injured party, thus assigning some liability to the...

With the Torch Tower fire this weekend (and a small fire at Tiger Tower today) we find out what a tenants’ rights are after a fire hits the building they...

The UAE has updated its health care law to keep pace with the swift changing requirements in the sector. One of the important objectives has been to attract more talented...

1. What are the main laws governing money laundering in KSA jurisdiction? The main law governing money laundering in Saudi Arabia is Saudi Arabia Cabinet Decision No. 80/1439, approving the...

The following article was originally published for BSA in Arabian Business and discusses the implications of the Dubai Courts' specialised money laundering court. In August, Dubai Courts announced the establishment...

The Emirate of Abu Dhabi, under the guidance of its leadership, aims to adopt a series of care programs and initiatives to improve the quality of life of its citizens...

Our Associate Hadiel Hussien from the Litigation Practice was interviewedon the Arabian Business Live, were she shares her insights on White Collar Crimes in the UAE. Watch the full interview...

Overview 1.1 Describe your jurisdiction’s sanctions regime The United Arab Emirates (“UAE”) has a complex sanctions regime based on a variety of sources. Sanctions are based on diverse interests, including...

The Spanish Business Council in collaboration with BSA Ahmad Bin Hezeem & Associates LLP would like to invite you to join the seminar “Overview on Compliance & Sanctions in the...

A raft of UAE anti-money laundering guidance has been published recently. Rima Mrad examines the key provisions and their impact on Licensed Financial Institutions and other organisations. WHAT’S HAPPENED AND...

Jimmy Haoula explains, to Khaleej Times, that one of the key attributes of the new law is the prevention of the sale of shares or dividends of family-owned businesses to...

We will explore the comprehensive operational support needed to establish, grow and streamline your Dubai business activity. Join this session to learn more about what you need to know and...

What’s happened and why? Oman has recently promulgated the Personal Data Protection Law by Royal Decree No. 6 of 2022 (“the Law”). The Law shall be supplemented by the implementing...

When the Ministry of Finance (MOF) announced the implementation of corporate tax it announced that it would be following the Organization for Economic Co-Operation and Development (OECD) model. By doing...

The Amendment Law amends some provisions of the Federal Decree-Law No. 8 of 2017 on VAT which shall take effect from 1 January 2023.Some of the major amendments are the...

The latest changes to the relevant laws in the last two to three years raised the need for companies to become more acquainted with their expected obligations. Apart from the...

The implementation of corporate tax in the UAE is imminent and effective starting 1st June 2023. Federal corporate tax has been implemented in the UAE in an effort to advance...