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UAE Central Bank Issues Guidance on Anti-Money Laundering Risks in the Payment Sector

The guidance is part of the rapidly evolving rules on anti-money laundering and aims to promote UAE as a jurisdiction compliant with best practices. By Brian Meenagh, Ksenia Koroleva, and Matthew Rodwell On August 1, 2022, the UAE Central Bank (CBUAE) issued the Guidance for Licensed Financial Institutions on the Risks Relating to Payments.[1] The … Continue Reading

UAE Publishes First Federal Data Protection Law

Organisations subject to the law should carry out a gap analysis of their current compliance position against the new requirements. By Brian A. Meenagh, Alexander Hendry, and Lucy Tucker The United Arab Emirates (UAE) has issued its first federal data protection law (Federal Decree Law No. 45/2021 on the Protection of Personal Data) (the Data … Continue Reading

UAE Decision on Health Data Law Provides Clarity

The decision will likely provide comfort to businesses operating in the healthcare sector both in the UAE and globally. By Brian A. Meenagh and Avinash Balendran On 28 April 2021 the United Arab Emirates (UAE) federal government issued Ministerial Decision No. 51 of 2021 (the Decision) to clarify when health information may be stored or transferred outside of … Continue Reading

UAE’s New Consumer Protection Law: An End to Direct Marketing?

The new legislation extends both the protections available to consumers, as well as the obligations applicable to e-commerce retailers. By Brian A. Meenagh and Avinash Balendran With its recent implementation of a new consumer protection law, the United Arab Emirates has taken a significant step forward in protecting the rights of consumers. The new legislation … Continue Reading

SAMA Updates Payment Services Provider Licensing Regime in the KSA

The updates are part of SAMA’s efforts to promote an innovation-based financial technology ecosystem in the KSA. By Salman Al-Sudairi, Brian A. Meenagh, and Homam Khoshaim Last month, the Saudi Arabian Monetary Authority (SAMA) issued an update to the recently implemented Payment Services Provider Regulations (PSPR), which was introduced in January 2020 to regulate Payment … Continue Reading

The DIFC Prescribed Company: A Guide to Uses and Requirements

By Christopher Lester and Connie Leung The Prescribed Company Regulations offer a more flexible incorporation and permitted purposes regime than its predecessor, the Special Purpose Company Regulations. Prescribed Companies are a type of corporate vehicle available in the Dubai International Financial Centre (DIFC), the financial free zone of the Emirate of Dubai, United Arab Emirates … Continue Reading

Technology Contracting and COVID-19 — 5 Key Issues for Middle East Customers

Navigating the impact of the pandemic on technology contracting in preparation for a post-COVID-19 world. By Brian Meenagh and Alexander Hendry* A recent Latham.London blog post recommended five steps that customers should take when procuring technology and related services in light of COVID-19 and future pandemics. This blog post examines five additional considerations for customers … Continue Reading

COVID-19: Managing Financial Difficulties in the United Arab Emirates

Understanding bankruptcy laws in the UAE and DIFC in the context of COVID-19-related financial pressures. By Nomaan A. Raja and Aly Kassam COVID-19 has already caused wide-scale disruption to numerous industries both locally and globally. Whilst efforts are underway to stop the spread and impact of COVID-19, the financial and social impact of the virus … Continue Reading

Update on the UAE Foreign Direct Investment Law: Part 1

UAE Federal Cabinet approves Positive List of activities eligible for up to 100% foreign ownership. By Christopher Lester and Connie Leung WAM, the Emirates News Agency, reported on 2 July 2019 (the WAM Report) that the UAE Federal Cabinet has approved 122 economic activities across 13 sectors that will be eligible for up to 100% … Continue Reading

New UAE Health Law Enters Into Effect

Healthcare entities should immediately assess whether Federal Law No. 2 of 2019 applies to their practices. By Brian A. Meenagh On 6 February 2019, the President of the United Arab Emirates (UAE) in conjunction with the UAE Minister of Health and Prevention (the Minister) issued a new law on the use of information and communications … Continue Reading

DIFC Issues New Direct Marketing and Electronic Communications Guidelines

The DIFC guidelines provide practical guidance for DIFC-registered entities engaging in electronic direct marketing, including useful “dos” and “don’ts”. By Brian A. Meenagh, Fiona M. Maclean, and Laura Holden What Do DIFC-Registered Entities Need to Know? In January 2019, the Commissioner for Data Protection for the Dubai International Financial Centre (DIFC) issued new Direct Marketing … 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

Top 3 Employment Issues in the United Arab Emirates

The Dubai Chamber of Commerce and Industry has reported a 24 percent increase in newly registered companies since last year; in part due to the recent successful World Expo 2020 bid, among other positive economic forces. As companies look to establish in the UAE, the Gulf state’s economy is expected to boom across many sectors … Continue Reading
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