Dubai +971 4 325 4000
Abu Dhabi +971 2 650 1211
Dubai +971 4 325 4000
Abu Dhabi +971 2 650 1211
Introduction: Loan defaults are considered as serious legal issue in the UAE. In accordance with the law, debtors must repay their debts, and the law allows creditors with many of different alternatives to recover loans. In…
Rules and Regulations of Cryptocurrencies in Dubai. In recent years, the global economy has experienced an increase in the popularity and adoption of cryptocurrencies, while the UAE has emerged as a significant participant in this digital…
When it comes to commercial transactions, the process of recovering debts that are owed by companies may require assistance from the legal system. The Federal Decree-Law No. 42/2022 on Civil Procedure Law outlines the specific procedures…
Introduction: 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 changes impacting both investors…
Introduction: 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 the demanding need…
Introduction 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 Bank…
In the dynamic world of finance, where businesses seek expert guidance on budgeting, debt management, and fundraising, financial advisors play an essential role. In the UAE, the Securities & Commodity Authority (SCA) has overseen the activities…
Introduction In the UAE, defaulting on a bank loan is regulated by two important laws: Federal Decree-Law No. 42/2022 on Civil Procedure Law and Federal Decree-Law No. 50/2022 on Commercial Transactions, specifically Bank Credits. This article…
Introduction: In any dynamic economy, financial challenges can arise, leading individuals and businesses to face insolvency. To address these situations and provide a structured outline for resolving them, the UAE enacted Federal Decree-Law No. 19/2019 on…
When you receive a cheque with an incorrect signature, it is essential to take necessary steps to protect your interests…
Mistaken Deposit To Bank Account – Receiver Declines To Return The Funds While initiating a transaction from your bank account to someone else’s, you need to double-check all the details, such as the account number, name…
Virtual Assets In The UAE – Updates You Need To Know Commercial laws in the UAE have undergone major reforms lately, and have been enforced with a sense of evolving the whole business setup established in…
Counterfeiting money is one of the major offences that can be committed against the security of the country. Following the definition laid down in Article 239 of the UAE Penal Code, Federal Decree-Law No. 31 of…
Dishonoring a cheque in the UAE can lead to potential legal consequences, including criminal charges and civil actions. Cheque fraud can be described as the ‘depositing of a fake or manipulated cheque’. This can be done…
Acquisitions of gigantic groups of companies in UAE are receiving a lot of attention lately, wherein banks plays a significant role in assisting the companies undergoing acquisition. Therefore, in order to securely regulate the tasks performed…
The new UAE Bankruptcy Law (Federal Decree Law No. 9 of 2016) came into force as a response to the 2008 global financial crisis. The new law was designed to encourage the development of a “rescue…
As a progression towards a digital UAE, the government has recently released a draft law for regulating and allowing dealing in cryptocurrency within the country. The most-awaited law for commercial markets has now finally been released…
I am assured that most of our readers are well versed with the criminal penalties imposed in UAE for a dishonored or bounced cheque. However, we keep on witnessing the amendments in the law by the…
As much as they are discussed, cheques are also most common mode of payment in UAE. Issuing cheques is uncomplicated, yet can cause a lot of complications if dishonoured by the bank. UAE Federal Law Number…
As the average cost of living is expanding at a pace, the urgent requirement of money is indeed increasing to cope up with daily financial needs which often lead to difficult legal situations caused by signing…
As compared to other jurisdictions, UAE allows individual possessing dishonoured bank cheques to file a criminal case against the issuer of the cheque. Federal Law Number 3 of 1987 Penal Code by virtue of Article 401…
Amid liquidation procedure, the interest of creditors must be kept as the foremost priority and, as the group, they shall authority to claim their debt. All creditors shall be dealt with equality, albeit their position is…
If you have comprehensively pestered a client to be it a company or an individual and there is still no sign of receiving the outstanding debt, it is an ideal opportunity to consider legal options available…
Introduction The Central Bank of UAE along with UAE Banks Federation has been discussing the issue pertaining to the Dormant Accounts in UAE and in lieu of resolving such issue has laid down Circular Number 10…
