by khlegal | May 5, 2025 | Banking and Finance law, UAE Law
Introduction Islamic finance has long positioned itself as a fairer, more ethical alternative to conventional banking. Based on Sharia principles, it prohibits interest (riba) and instead relies on profit-sharing, leasing, and trade-based transactions. On paper, it is...
by khlegal | Feb 16, 2025 | Banking and Finance law, UAE Law
Introduction The United Arab Emirates (UAE) has implemented a comprehensive legal framework governing finance leases, demonstrating the country’s commitment to fostering a robust and transparent financial sector. This legislation, which builds upon previous...
by khlegal | Nov 25, 2024 | Banking and Finance law
Introduction In a recent judgment delivered by the Court of Cassation on October 28, 2024, the court dealt with an important matter regarding the recognition and enforcement of bankruptcy orders issued by foreign courts. The case at hand involved a request for the...
by khlegal | Nov 25, 2024 | Banking and Finance law
In the intricate world of banking law, the relationship between financial institutions, borrowers, and guarantors is often governed by a delicate balance of contractual obligations and regulatory compliance. A recent decision from the Abu Dhabi Court of Cassation...
by khlegal | Nov 8, 2024 | Banking and Finance law, UAE Law
On September 16, 2024, the UAE Cabinet issued Resolution No. 94 of 2024, setting forth the executive regulations for Federal Decree Law No. 51 of 2023 on Financial Restructuring and Bankruptcy. This regulation introduces comprehensive guidelines to bolster financial...
by khlegal | Oct 15, 2024 | Banking and Finance law, UAE Law
Under Cabinet Decision No. 111/2022, the UAE establishes a comprehensive regulatory framework for virtual assets and their service providers. Article 1 of this decision provides comprehensive definitions for terms such as virtual assets, virtual asset service...
