The following Banking & Finance guidance note Produced in partnership with Amir Ahmad and Umbreen Meenai of Pinsent Masons provides comprehensive and up to date legal information covering:
At the outset, it is pertinent to note that when dealing with a particular Emirate in the United Arab Emirates (UAE), the laws and regulations prescribed at both the Federal level and at the relevant Emirate level need to be considered. Further, in the UAE, there are several free zones and each free zone may have its own set of governing laws and regulations, Dubai International Financial Centre (DIFC) being the most important one. Therefore, prior to any entry into dealings associated with a particular free zone, specific advice should be sought.
The UAE banking sector is presently experiencing a rise in the rate of non-performing loans. The lower oil prices are having an impact on the level of liquidity and tightening of margins. Despite the comparatively low oil prices, the UAE's economy remains resilient. Islamic syndicated loans are doing especially well amid a tightening supply of cash to lend as demand outstrips appetites for traditional bank loans, bonds or sukuks.
The new UAE
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234