The final Law Update of 2022 is here, and it’s packed full of articles. The double edition features two focus areas, first is a spotlight on Energy and Resources and second we feature a collection of articles on Transport and Logistics. The developments occurring in these sectors in the MENA region are unprecedented and our lawyers cover vast themes for you.
The Energy and Resources focus features topics such as diversifying energy resources, solar PV, mining in the Middle East, renewable energy and green hydrogen. From a transport perspective, we draw attention to the Bahrain metro project, discuss the challenges and remedies associated with the repossession of an aircraft, and there is advice on what to consider should a party vary the terms of a shipping contract.
This edition navigates you through updates from across jurisdictions such as, Oman, Jordan, Saudi Arabia, Egypt, Iraq, Qatar, and the UAE. Each article is timely and provides insights into legal issues and cases that are affecting these sectors across the region.Read the full edition
Over the last few years, the UAE has taken strides to further its commitment towards creating an ecosystem that will generate long-term economic growth through digital innovation. In September 2021, the Securities and Commodities Authority (SCA) and the Dubai World Trade Centre Authority (DWTCA) entered into a Memorandum of Understanding to support the regulation, offering, issuance, listing and trading of crypto assets and related financial activities within DWTCA’s free zone. Separately, DWTCA and Binance announced plans to establish a new industry hub for global virtual assets in Dubai. Additionally, last week, the Dubai Financial Services Authority issued its Consultation Paper No. 143 for the Regulation of Crypto Tokens.
In furtherance of this commitment and in a relatively short span of time, the Emirate of Dubai has issued Dubai Law No. 4 of 2022 dated 28 February 2022 on the Regulation of Virtual Assets in the Emirate of Dubai (“Dubai Virtual Assets Law” or the “DVAL”).
Here’s what you need to know:
Get in touch with our team who can answer your questions and provide insight into the new law.