Category: Legal Updates

January 23rd, 2024
Legal Updates

Egyptian Competition Authority Takes Stand Against Collusion and Monopolistic Practice

In the implementation of its 2021-2025 strategy, the Egyptian Competition Authority (“ECA”) has made an extremely impactful  decision, confirming collusion in the petroleum product distribution market. Two companies, owned by a state entity, have been...

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January 18th, 2024
Legal Updates

Finance Companies Regulation in the UAE

Introduction The Central Bank of the United Arab Emirates (“CBUAE”) has issued a new regulation to govern finance companies and restricted license finance companies by virtue of Circular No. 3 of 2023 (“Regulation”). The Regulation...

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January 15th, 2024
Legal Updates

Saudi Mandate Requires Private Sector Internships to Enhance Workforce Skills

In a significant move to address the critical issue of youth employability, Engineer Ahmed bin Suleiman Al-Rajhi, the Minister of Human Resources and Social Development (“MHRSD”), has recently issued a ministerial decision No. (51/M) issued...

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January 8th, 2024
Legal Updates

KSA New Buy Now Pay Later Rules

In furtherance of KSA’s 2030 vision, new set of rules regulating “buy now pay later” sector have been recently introduced by SAMA. The new rules contribute to the growth and sustainability of such sector while...

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January 4th, 2024
Legal Updates

WHAT TO EXPECT FROM THE NEW EGYPTIAN CONSTRUCTION VIOLATIONS CONCILIATION AND REGULARISATION LAW

Introduction: A reading into Law no. 187 of 2023 promulgating the Construction Violations Reconciliation and Regularisation Law (the “New Law”) issued by the President of the Arab Republic of Egypt on 17 December 2023, reflects...

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December 20th, 2023
Announcements

New Egyptian Construction Violations Reconciliation and Regularisation Law

On 17 December 2023, the President of the Arab Republic of Egypt issued Law no. 187 of 2023 promulgating the Construction Violations Reconciliation and Regularisation Law (the “Law”), in an effort to effectively conclude the...

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December 18th, 2023
Legal Updates

The Central Bank Digital Currency Regulations in UAE

The United Arab Emirates (“UAE”) has recently taken a bold step towards the digitalization of its monetary system by amending its Central Bank Law No. (14) of 2018 to include the Central Bank Digital Currency...

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December 14th, 2023
Legal Updates

The Evolution of Trust Law in the UAE: Federal Decree No. 31 of 2023

INTRODUCTION Trusts are legal arrangements that allow a person (the “settlor”) to transfer property to another person (the “trustee”) for the benefit of a third person (the “beneficiary”) or for a specific purpose. Trusts are...

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December 11th, 2023
Legal Updates

Overview of the new Competition Legal Regime in the UAE

Unveiling the UAE’s New Competition Law No. 36 of 2023 The United Arab Emirates (UAE) stands poised at the threshold of a significant milestone in its economic landscape with the introduction of a groundbreaking new...

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