Al-Mirsal

Category Archives: Regulatory

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The Legal Landscape for Drones in the UAE

The use of “unmanned aerial systems” or “drones” for commercial, government and consumer purposes has significantly increased in recent years across the globe. In the UAE, the office of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Prime Minister and Ruler of Dubai, introduced the Drones for Good Award at the Government Summit held in Dubai … Continue Reading

The Legal Status of Bitcoin in the United Arab Emirates

This is the first in a series of articles considering legal issues relating to bitcoin, cryptocurrencies and blockchain in the UAE. In this article we focus on the legal status of bitcoin and address the question of whether bitcoin is banned in the UAE. In part two we will consider the case for regulating bitcoin … Continue Reading

Middle East Privatisation – Saudi Arabia Par Excellence?

Saudi Arabia’s recently announced plans to privatise several key industries in the Kingdom has once again brought the Kingdom’s privatisation agenda back into the spotlight. The announcements form part of the countries transformational initiatives as part of The 2016-2020 National Transformation Plan (NTP) to improve public sector efficiency and boost non-oil revenues in the region, … Continue Reading

DIFC Says Transfer to US Cannot Rely on Safe Harbor

By Brian Meenagh On October 26, 2015, Raja Al Mazrouei, the Commissioner for Data Protection for the Dubai International Financial Centre (the DIFC), issued guidance on the adequacy of US Safe Harbor for the purpose of exporting personal data from the DIFC. The guidance is significant for organisations that transfer personal data from the DIFC to the … Continue Reading

Abu Dhabi Global Market Publishes New Commercial Regulations and begins Financial Regulation Consultation

On 15 June 2015, the Abu Dhabi Global Market (Global Market), Abu Dhabi’s financial free zone, published the following six new regulations concerning the regulation of non-financial services in the Global Market: – Application of English Law Regulations; – Companies Regulations; – Operating Regulations; – Insolvency Regulations; – Employment Regulations; and – Real Property Regulations. … Continue Reading

Kuwait Power and Water Projects to Take-Off Following Publication of PPP Regulations

New PPP Regulations Further to the publication of the new PPP law in August 2014, the corresponding executive regulations were published in the official gazette on 29 March 2015. The new regulations provide developers with additional information and clarification on key procurement matters such as prequalification, bid submission requirements, bid bond requirements, bid evaluation procedures, … Continue Reading

What You Need to Know About Abu Dhabi Global Market’s New Draft Regulations

The Abu Dhabi Global Market, Abu Dhabi’s new financial free zone, located on Al Maryah Island, recently issued a first wave of draft regulations and related consultation papers. The Global Market’s general approach in the draft regulations follows very closely the  English law model. In particular, the Global Market is proposing to apply English common … Continue Reading

As Bitcoin Gains Momentum, Focus on Regulation Increases

The virtual currency market has emerged in the United Arab Emirates with Dubai’s first Bitcoin ATM introduced in April 2014. Middle East entrepreneurs have begun launching Bitcoin payment products and SMEs are beginning to realise the potential of such technology, with The Pizza Guys becoming the first restaurant in the UAE to accept Bitcoin payments. … Continue Reading

3 Changes in Europe’s Energy Policy that Offer Lessons and Opportunities for the Middle East

The European Union is seeking to re-regulate Europe’s energy sector to improve security of supply, sustainability and competitiveness. Energy transformation in Europe has exposed the shortcomings of over-regulation and national-centric policy, providing the Middle East with valuable lessons to manage supply, competition and future investment in its own market. 1. Supply Diversification: Shale gas development … Continue Reading

How LIBOR Administration Change will Impact Financial Contracts

This month, the UK Financial Conduct Authority formally authorised ICE Benchmark Administration Limited (IBA) to assume responsibility for the administration of the London Interbank Offered Rate (LIBOR). IBA is a subsidiary of the Intercontinental Exchange Group, a leading global network of exchanges and clearing houses that administers other benchmarks such as the French CAC40 and … Continue Reading

Infographic: How #Healthcare is Regulated in the #UAE

Investment in the UAE’s healthcare sector is steadily increasing as the government seeks to deliver world-class healthcare to its residents.  Latham has compiled the following Infographic to explain the regulatory framework behind the UAE’s first-rate infrastructure projects and advanced healthcare services. Read more about UAE healthcare regulations here.… Continue Reading

How to comply with laws that protect personal #data in the #Middle East

Digital Identity Dominates  Having a digital identity for online browsing, transactions and interactions has become necessary to operate in this information age.  As more and more lifestyle and business services shift to the digital platform, there has been an explosive growth in personal data capture.  The “Big Data” phenomenon has the potential to transform, innovate … Continue Reading

How #Saudi New Weekend Impacts Legacy #Financing Agreements

The Custodian of the Two Holy Mosques, King Abdullah, announced on Sunday June 23, 2013 that the official working days in Saudi Arabia will change to Sunday to Thursday and the weekend to Friday to Saturday, with effect from June 29, 2013 (the “Royal Decree”).  The change aligns Saudi Arabia with the other members of … Continue Reading

How new UAE Competition Law will impact businesses

The expiration date is looming for the six month transitional period granted to the Federal Law No. 4 of 2012 (the “Competition Law”) On 23 February 2013, the new Competition Law came into force in the UAE, prohibiting certain types of restrictive agreements and abuses of dominance, and introducing merger control. The 23 August 2013 … Continue Reading

Middle East and Africa Technology, IP and Sourcing Focus

Latham & Watkins’ Middle East Technology, IP and Sourcing team has just published the sixth edition of Middle East and Africa Technology, IP and Sourcing Focus. This edition includes a white paper on preparing a statement of work for a technology or sourcing transaction, guidance on US Trade Controls for companies operating in Qatar, Saudi … Continue Reading

Data Protection in the Kingdom of Saudi Arabia: A Primer

Although some surveys of privacy law suggest otherwise, privacy requirements do in fact exist in the Kingdom of Saudi Arabia (KSA)and are very relevant to companies operating there or seeking to provide services to customers in KSA. Background The paramount body of law in KSA is the Sharīʿah. The Sharīʿah is comprised of a collection … Continue Reading

LIBOR No More – The Wheatley Review and LIBOR Changes

The second half of 2012 saw a number of major financial institutions censured for the alleged manipulation of submissions made to the British Bankers’ Association (BBA) for the compilation of BBA LIBOR. In addition to direct enforcement action against those alleged to have participated in such manipulation, regulators have also taken significant steps to reform … Continue Reading

Hong Kong – Getting Set for Sukuk

Following a public consultation process, Hong Kong has commenced the legislative process for the introduction of tax changes to permit the issuance of Sukuk. The proposed legislation was published in a Legislative Council Brief on December 28, 2012, which seeks to establish a level playing field for the taxation of conventional bonds and Sukuk (referred … Continue Reading

Key Expected Changes to the UAE’s Draft Commercial Companies Law

The UAE’s Draft Commercial Companies Law (CCL) introduces some significant changes to the existing CCL (Federal Law No. 8 of 1984). Already approved by the UAE Cabinet, the Draft CCL is expected to become law in the next few months. Chris Lester, Jade Laktineh and Saad Khananiof the Abu Dhabi office and Charles Fuller of … Continue Reading

Reforms to Banking Disputes in Saudi Arabia

Several new laws have taken effect in recent months in the Kingdom of Saudi Arabia from arbitration to the establishment of a centre for registration of lien and the long awaited mortgage law. As part of the restructuring underway in the Saudi Arabian judiciary system, long standing regulations for the resolution of banking disputes in the … Continue Reading
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