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
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
2/20/2025
/ Banks ,
Consumer Financial Products ,
Criminal Penalties ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
Forgery ,
Fraud ,
Insufficient Funds ,
Regulatory Requirements ,
United Arab Emirates (UAE)
The advent and rise of cryptocurrency have been a disruptor to the traditional currency system. Even outside the virtual aspect of the currency, the concept is novel due to its accessibility and the level of anonymity...more
2/17/2025
/ AML/CFT ,
Anti-Money Laundering ,
Central Bank Digital Currency (CBDCs) ,
Compliance ,
Cryptocurrency ,
Financial Crimes ,
Financial Regulatory Reform ,
Financial Services Industry ,
Money Laundering ,
Regulatory Requirements ,
Virtual Currency
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
1/24/2025
/ Arbitration ,
Default ,
Dubai ,
Financial Institutions ,
Financial Services Industry ,
Interest Payments ,
Interest Rates ,
Loans ,
Penal Code ,
United Arab Emirates (UAE) ,
Usury
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
5/7/2024
/ Auditors ,
Banking Sector ,
Customer Protection Rule ,
Digital Currency ,
Electronic Banking Rules ,
Financial Institutions ,
Financial Services Industry ,
Investors ,
Money Laundering ,
Terrorism Funding ,
United Arab Emirates (UAE)
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
4/24/2024
/ Central Bank Digital Currency (CBDCs) ,
Digital Assets ,
Digital Service Providers ,
Financial Markets ,
Financial Services Industry ,
Investors ,
Non-Fungible Tokens (NFTs) ,
Regulatory Requirements ,
United Arab Emirates (UAE) ,
Unlicensed Professionals ,
Virtual Currency
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
9/12/2023
/ Anti-Money Laundering ,
Criminal Mischief ,
Criminal Penalties ,
Cyber Crimes ,
Cybersecurity ,
Financial Services Industry ,
Hackers ,
Illegal Drugs ,
Police ,
Popular ,
Public Safety ,
Safety Laws ,
United Arab Emirates (UAE)