Book an appointment with us, or search the directory to find the right lawyer for you directly through the app.
Find out moreThe first Law Update of 2024 is here, and our first focus of the year spotlights Healthcare and Lifesciences, a sector that is undergoing significant growth and development across the MENA region.
Our focus provides an insight into some of the most important regulatory updates across the region, such as the UAE’s groundbreaking law on the use of human genome, Kuwait’s resolution on nuclear and radioactive materials, the new regulations for healthcare services in Qatar, Egypt’s healthcare regulatory framework, and the impact of the Saudi Civil Transactions Law on the healthcare and life sciences sector … and there is so much more!
Beyond the healthcare pages our lawyers share with you multi-sector insights where you will discover articles on Dubai’s DIFC regulatory framework for startups, Bahrain’s commercial agencies law, and we also shed light on Kuwaiti civil code and the advantages of setting up a joint stock company in Saudi Arabia.
Read the full editionTo capitalise on the growth of the global private credit market in the past decade, the Financial Services Regulatory Authority (“FSRA”) is proposing to expand the current range of funds available in the Abu Dhabi Global Market (“ADGM”) to include Private Credit Funds within its existing collective investment funds regulatory framework. A credit fund will be able to invest in credit facilities it originates, participates in or acquires from third parties.
The FSRA proposes that Private Credit Funds and their fund managers be exempted from the requirement to hold a Financial Service Permission, or satisfy a specified Base Capital Requirement, to carry on the regulated activities of ‘Providing Credit’ or ‘Arranging Credit’. However, given the inherent risks and limited liquidity of credit funds, the framework will provide certain operating restrictions and requirements:
Fund managers currently operating or seeking to operate in the ADGM and other concerned stakeholders are invited to comment and provide feedback before the deadline of 27 January 2023. You can find the consultation paper here.
At Al Tamimi & Co we regularly advise local, regional and global financial institutions on FSRA rules, ADGM legal developments and licensing of regulated financial services providers.
To learn more about our services and get the latest legal insights from across the Middle East and North Africa region, click on the link below.