Financial Services Litigation 2021
Common causes of actionWhat are the most common causes of action brought against banks and other financial services providers by their customers?>>🔗
The United Arab Emirates comprises seven emirates, including the emirates of Abu Dhabi and Dubai. Abu Dhabi and Dubai have designated certain geographical areas as financial free zones. Those free zones have separate civil and commercial laws to those that apply onshore in the United Arab Emirates, although they remain subject to UAE federal criminal law and anti-money laundering and combating of financing of terrorism laws. Unlike onshore United Arab Emirates, which is a civil-law jurisdiction, the Abu Dubai Global Market and the Dubai International Financial Centre (DIFC) are financial free zones modelled on common law jurisdictions. As a civil law jurisdiction, in the United Arab Emirates (outside the financial free zones), statute is the primary source of law. The judgments of higher courts are not considered binding on lower courts, although they may be considered as useful guidance.
For this chapter, we focus on:
This material is produced by Lexology Panoramic:
This image is not available in the public version.
Formerly Getting The Deal Through, Lexology Panoramic delivers a panoramic view of how laws and regulations vary across jurisdictions from the market-leading cross-jurisdictional comparison tool
This content is licensed and is published in its original form. It is not edited or checked by LexisNexis®.