13 Dec 2018Sharjah
Government of Sharjah Official Gazette - Issue no. 4 - 2018
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[Subscription only] The Federal Authority for Identity and Citizenship has announced that the amnesty for illegal residents in the United Arab Emirates will be extended further until 31 December 2018.
In the wake of the recent amendments to the Egyptian Companies Law (the ECL) and its Executive Regulations earlier this year, the General Authority for Investment and Free Zones (the “GAFI”) issued several circulars in October and November 2018 to further clarify, and in certain cases provide additions to, the recent amendments.
Bahrain’s Real Estate Regulatory Authority has urged property managers and owner association managers to apply for a license from the Authority ahead of the 4 January 2019 deadline.
Iraq’s Al-Sa’iroon Coalition has submitted a draft law on mandatory civil service to Parliament.
Dubai’s Financial Market has announced it has published updated Sharia standards to enhance the regulatory framework supporting the Islamic capital markets sector.
On 29 November 2018, Bahrain enacted the UNCITRAL Model Law on Electronic Transferable Records (the MLETR) by adopting the Electronic Transferable Records Law and has become the first country to do so.
Turkey’s President has ratified a new law on the sale of tobacco products which bans advertising tobacco products in the country.
Bahrain’s Central Bank has issued the final rules on ‘open banking’. It will facilitate a variety of innovative services to be provided to bank customers in the Kingdom.
The UAE Federal Government has recently issued a raft of important legislation, addressing and in many ways updating areas of law which are key to businesses in the jurisdiction. Amongst this legislation is Federal Decree-Law No 14/2018 concerning the Central Bank and the Organisation of Financial Institutions and Activities (the New Banking Law) and Federal Decree-Law No 20/2018 Concerning Anti-money Laundering and Anti-terrorism Financing (the New AML Law). Both the New Banking Law and the New AML Law repeal and replace the previous legislation on their respective subjects.
