Competition Law for Financial Services

Overview

  • Federal Decree-Law No. 36/2023 On the Regulation of Competition came into force in December 2023 abrogating Federal Law No. 4/2012 On the Regulation of Competition.

  • Federal Decree-Law No. 36/2023 aims to enhance competition and to combat monopolistic practices in the UAE by creating a legal framework that governs key anti-competitive practices, abuse of dominance and provides for merger control. Within Federal Decree-Law No. 36/2023 there are several references made to the implementing regulations to specify the operation of the new regime. At the moment, and until the time that the new implementing regulations are issued, Cabinet Decision No. 37/2014 On the Implementing Regulation of Federal Law No. 4/2012 on the Regulation of Competition will continue to remain effective.