Virtual IBANs: the EBA’s report on their issuance and regulation
Virtual IBANs (“vIBANs”) are increasingly being used as payment account identifiers across the EU to redirect payments, yet the definition and the appropriate regulatory treatment thereof remains ambiguous.
Revising Chapter 3 of the Financial Institutions Rulebook – MFSA issues new Consultation Document
The MFSA has, on 21 May 2024, issued a consultation on the revised Chapter 3 of the Financial Institutions Rulebook (‘FIR/03’) which will be applicable to both payment institutions and electronic money institutions once finalised.
‘Equal Pay for Work of Equal Value’ the importance of comparing like with like
In a decision handed down by the Industrial Tribunal (the ‘Tribunal’) on 5th October 2022 in the names James D’Anastas vs Wembley Stores Company Limited (and confirmed by the Court of Appeal on 12th July 2023),
Litigation funding in the UAE: a quick guide for General Counsel and claimant decision-makers
Litigation funding is an arrangement where a third party finances the cost of litigation or arbitration proceedings in exchange for a return upon success.
The Rule: Giving notices required by a contract is not being “claim focused”
Too commonly employers or main contractors complain that the contractor or subcontractor is too claimed focused should a notice be given for every event which may give rise to an entitlement.
Introduction of the Tax-Free System in Kazakhstan: A New Stage for the Development of Shopping Tourism
Introduction Kazakhstan has made a significant step towards attracting foreign tourists and developing retail trade by introducing the Tax-Free system.
Legal Recourse for Privacy Violations and Nuisance by Neighbors in the UAE
Introduction: In the UAE, community living is a common lifestyle choice, encouraging a sense of togetherness and shared experiences.
Data Infringement Alert: Cybercrimes and Penalties in the UAE
Introduction: The UAE has recently strengthened its stance against cybercrimes with the introduction of Federal Decree-Law No. 34/2021, focusing on combating rumours and cyber offences.
Know Your Rights and Legal Remedies: Understanding Air Passenger Rights under UAE Law
Introduction: Air travel has become an indispensable part of modern-day life, offering convenience and efficiency for millions of passengers worldwide.
Is a Marriage Valid in Other Countries if Conducted in the UAE?
Introduction: Marriage, as a sacred union between two individuals, carries varied legal implications worldwide. With the UAE attracting a diverse expatriate population, many couples consider marrying in this vibrant nation.