Over the past years, UAE’s resolve to be a leader in the virtual assets space has continued to strengthen. The latest development is the enactment of the Payment Token Services Regulation (the Regulations) issued by…
The UAE has taken a significant step towards enhancing consumer trust and protecting consumer rights with the introduction of the new ombudsman unit, "Sanadak". This move follows the merger of the UAE Insurance Authority with…
What is Emiratisation? The initiative by the Government of the UAE to increase the number of UAE nationals employed in the private and public sectors is called Emiratisation. The Emiratisation program is an…
As a Civil law jurisdiction, UAE maritime law is derived from the UAE's Maritime Code (or specifically Federal Law No. 26/1981). Still, the Commercial and Civil Codes govern all maritime financial transactions. The Federal Maritime Authority (FMA) is the…
The recent announcement that Dubai's Virtual Assets Regulatory Authority (DVARA) has entered into the metaverse with the establishment of its Metaverse HQ made it the first regulator to have a presence in the emerging digital…
Dubai surprised many businesses earlier this year when it issued a new Virtual Assets Law. Dr Laura Voda, Of Counsel at Fichte Legal, examines this law’s most significant provisions and what could be next in…
Historically, the practice of creating security in the UAE could be distinguished from common law jurisdictions, with no recognition of floating charges or future assets. There was no comprehensive legislation which mandated the registration of…
When and Where? Launched earlier this year, the ChequeScore is an innovative tool of Al Etihad Credit Bureau (AECB), aimed at complementing the initiatives of the UAE Government to decriminalize bounced cheques. As of April…
Most jurisdictions are yet to enact laws or regulations governing cryptocurrencies and non-fungible tokens, leaving much uncertainty in the field. At a time when virtual assets are increasingly becoming a part of business transactions, and…
