The amended PDPL diverges from international privacy laws in several areas, including personal data transfers, penalties, and breach notification. By Brian A. Meenagh and Lucy Tucker An amended version of the Kingdom of Saudi Arabia’s Personal Data Protection Law (PDPL) was published in the Official Gazette of the Kingdom of Saudi Arabia on April 7, … Continue Reading
The Dubai International Financial Centre urges companies to protect personal data when using artificial intelligence. By Brian A. Meenagh, Ksenia Koroleva, and Lucy Tucker On 18 April 2023, the Dubai International Financial Centre (DIFC), a financial free zone with its own data protection laws, published a consultation paper (the Consultation Paper) regarding amendments to DIFC Data Protection … Continue Reading
The Middle East’s rapidly advancing space sector has seen a slew of landmark achievements in the last few years. By Alexander Hendry In 2014, the UAE established the UAE Space Agency to oversee and grow its space sector, and it has since successfully completed numerous projects. In July 2020, it became the fifth country in … Continue Reading
The new regime specifies licensing and reporting requirements for a range of activities related to virtual assets in the Emirate of Dubai. By Brian A. Meenagh, Matthew Rodwell, and Ksenia Koroleva On February 7, 2023, the Dubai Virtual Assets Regulation Authority (VARA) adopted the Virtual Assets and Related Activities Regulations 2023 (the Regulations) together with … Continue Reading
The regime introduces rules on various crypto tokens, including cryptocurrencies and stablecoins, in the Dubai International Financial Centre. By Brian A. Meenagh, Matthew Rodwell, and Ksenia Koroleva On November 1, 2022, the Dubai Financial Services Authority (DFSA) crypto token regulatory regime came into effect. The rules expand upon the DFSA framework for regulating investment tokens … Continue Reading
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
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
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
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
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
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
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
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
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
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
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
Dubai Managing Partner Villiers Terblanche spoke recently to The Banker on how the Dubai International Financial Centre (DIFC) has fared in the past during turbulent times. … Continue Reading
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
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
