Tackling Internal Fraud: Weeding Out The Enemy Within

Posted on Jul 1, 2012 in UAE Law and Business

Law360, New York (June 25, 2012, 1:13 PM ET) — Advancements in technology have made fraudulent schemes easier to perpetrate, and have allowed criminal activity to expand in both quantity and nature. Today, corporate fraud is limited only by the creativity of the perpetrator. The most obvious effect of internal fraud is damage to a […]

Directors’ Duties in the UAE

Posted on Jun 21, 2012 in UAE Law and Business

Those who are asked to serve as directors of companies need to be aware of their duties and responsibilities in the legal context. This is particularly relevant given recent decisions which have highlighted the consequences of breaching the duties that directors owe to their companies. The leading principle as to a director’s duties in the […]

Project Financing In Iraq: Weighing Up The Risks

Posted on Jun 12, 2012 in Emirates-Middle East, UAE Law and Business

Iraq is open for business and investors are lining up. Major infrastructure projects are springing up all over Iraq, as the country is recovering from decades of war, sanctions, and domestic unrest. There is a dire need for an array of infrastructure investments – particularly, in the areas of healthcare, housing, power, water, manufacturing, transportation, […]

Beware: A Bounced Cheque Can Lead You Behind Bars In the UAE

Posted on Apr 30, 2012 in Emirates-Middle East, UAE Law and Business

The economic downturn has resulted into a nightmare for many individuals in the UAE. Hundreds of individuals are currently being imprisoned for bounced cheques as booming businesses went bust. For one Irishman, the nightmare of prison and a lengthy jail sentence is looming large, forcing him to resort to a hunger strike. This person was the […]

Taking A Closer Look – Agency Agreements In The UAE

Foreign principals who wish to conduct business in the UAE or in the wider Middle East, but want to do so with a minimal investment, often turn to commercial agents to sell their goods. The main piece of legislation that governs agency arrangements in the UAE is Federal Law No. 18 of 1981, what is […]

The Rising Trend Of Public Private Partnerships In The Middle East

 Governments in the Middle East are in the process of rapidly developing their physical and social infrastructures to provide necessary services to their citizens. In this regard, a public private partnership (PPP) can be a viable option to construct or develop a wide range of these infrastructure projects, including highways, power plants, bridges, pipelines, ports, […]

National Bank of Abu Dhabi Said to Sell $750 Million Bonds

National Bank of Abu Dhabi PJSC, the United Arab Emirates’ second-biggest bank, will raise $750 million from a sale of dollar bonds, according to three people familiar with the plan. La Repubblica Related articles Dubai credit risk drops on 5-year high growth outlook (noorislamicbank.wordpress.com) UAE attracts $1.8billion FDI in 2011 (noorislamicbank.wordpress.com)

Banks in UAE Sharply Boost Provisions in December

UAE banks appear to be stepping up a drive to build up bad debt provisions four years after the 2008 global fiscal distress, allocating nearly Dh2.1 billion in December, the highest monthly average in 2011. Due to massive lending in the real estate sector, banks in the UAE are extremely sensitive to downturns in the […]