Introduction As the United Arab Emirates continues its rapid ascent as a global financial hub, regulatory rigour has become the hallmark of doing business in the country’s premier financial center: the Dubai International Financial Centre (DIFC). Nowhere is this more evident than in the field of anti-money laundering and countering the financing of terrorism (AML/CFT)....
Introduction The United Arab Emirates (UAE), and in particular the Dubai International Financial Centre (DIFC), has cemented its status as a global financial powerhouse by continuously strengthening its regulatory landscape to meet the highest international standards. One area of paramount significance is the implementation and evolution of Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT)...
Introduction In recent years, the landscape of Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) regulation within the United Arab Emirates (UAE) has undergone significant transformation. Nowhere is this evolution more prominent than in the Dubai International Financial Centre (“DIFC”)—a financial free zone with its own legal and regulatory framework—where insurers are held...
Introduction: The New Era of Change-in-Control in DIFC Insurance In the ever-evolving landscape of the United Arab Emirates’ financial services industry, the Dubai International Financial Centre (DIFC) stands as a world-class hub for insurance and reinsurance transactions. The dynamic pace of mergers and acquisitions (M&A) in the DIFC insurance sector, particularly in light of the...
Introduction: Navigating Change-in-Control and M&A in DIFC Insurance In the ever-evolving regulatory sphere of the United Arab Emirates, the insurance sector within the Dubai International Financial Centre (DIFC) stands as a beacon of international best practices. For insurance companies—especially those who are regulated by the Dubai Financial Services Authority (DFSA)—the issues of change-in-control, mergers and...
Introduction Reinsurance contracts sit at the core of risk management frameworks for insurance companies operating from the Dubai International Financial Centre (DIFC). As globalisation accelerates and the UAE solidifies its status as a preeminent regional financial hub, the sophistication of reinsurance arrangements and regulatory oversight has increased. 2024 saw a series of regulatory enhancements within...
Introduction: The Strategic Importance of Claims and Complaint Handling in the DIFC In today’s rapidly evolving UAE business landscape, particularly within the Dubai International Financial Centre (DIFC), the standards for dealing with customer and business partner claims and complaints have never been higher. Regulatory scrutiny, stakeholder expectations, and increasing legal sophistication mean that how an...
Introduction to the Legal Landscape for Intermediaries and Brokers in DIFC Dubai International Financial Centre (DIFC) has long established itself as the UAE’s leading financial hub, attracting global finance and commerce. Central to its ecosystem are intermediaries and brokers who facilitate transactions, investments, and financial arrangements. With regulatory expectations continually evolving, especially in light of...
Introduction In recent years, the United Arab Emirates (UAE) has strategically advanced its position as a regional and global financial powerhouse. One of the key vehicles contributing to this momentum is the captive insurance sector within the Dubai International Financial Centre (DIFC). As global volatility and evolving risk landscapes drive businesses to seek sophisticated, cost-efficient...
Introduction: Navigating Outsourcing and Third-Party Risk for DIFC Insurers In an era defined by digital transformation, operational efficiency, and ever-tightening regulatory scrutiny, the insurance sector in the United Arab Emirates—particularly entities licensed within the Dubai International Financial Centre (DIFC)—faces unprecedented challenges and opportunities. The practice of outsourcing critical functions to third-party providers is increasingly vital...
