Al Reem Island Becomes Part of ADGM (Abu Dhabi Global Market). Expands ADGM’s jurisdiction to Al Reem island in addition to Al Maryah island. With 1438 hectares, ADGM becomes one of the largest concentrated Financial Districts in the world.
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In the Abu Dhabi Global Market (ADGM), employment regulations are dealt with by the provisions of ADGM Employment Regulations 2019 (the “Regulations”), ADGM Employment Regulations (Engaging Non-Employees) Rules 2023 (the “Rules of 2023”), and ADGM Employment Regulations 2019 (Compensation Awards and Limits) Rules 2019 (the “Rules of 2019”). The usual practice is to develop an...
Hiring in the ADGM (Abu Dhabi Global Market) permits the following types of employees: interns, non-employees, outsourced individuals, secondees, and temporary freelancers. Here is a quick overview of the aspects to keep in mind while recruiting in ADGM: Read on to find the explanation of the above aspects: Disambiguation: This article discusses ADGM employment...
Introduction and Legal Framework The Abu Dhabi Global Market (“ADGM”) is an international financial center located in Abu Dhabi, United Arab Emirates (“UAE”). ADGM has its own legal framework, based on the English common law. Disambiguation: This article discusses ADGM employment laws. For DIFC labour laws, please refer to DIFC Employment Laws. For UAE Federal labour laws,...
The Financial Services Regulatory Authority (FSRA) of ADGM introduced a new framework for the authorization and supervision of third-party financial technology (FinTech) firms. Third-Party Providers (“TPPs”) are the intermediaries between customers and financial institutions. They help customers to make use of their data more effectively while conducting financial transactions. This new Regulatory Framework will parallelly...
Singapore International Arbitration Centre (SIAC) entered a Memorandum of Understanding (MoU) with the ADGM Arbitration Center (ADGMAC) on April 8, 2021, to promote international arbitration for resolving international disputes. SIAC and ADGMAC will join hands to host conferences, workshops, and seminars on International Arbitration in UAE and Singapore. They will mutually help when arbitration hearings...
The ADGM RA and the Registrar of Companies in the Israeli Corporation Authority signed a Statement of Corporation (SoC) to improve business opportunities between both places and to facilitate their registration functions. The SoC will promote partnerships between Israeli and UAE businesses. Additionally, the pact will enable professional knowledge sharing and the possibility of give-and-take...
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) warned the financial services community and public about the false claims made by Almena Financial Brokers and Abu Dhabi Financial Brokers on their respective websites. The Brokers claimed that they are given the authority by the FSRA. This gave a wrong notion that...
ADGM enacted the Electronic Transactions Regulations 2021 to provide greater certainty for electronic dealings. As a result, ADGM’s regulatory framework is in line with international standards on e-commerce and electronic dealing. The objective is to confirm that electronic signatures, contracts, records and documents are legally valid as the traditional non-electronic versions. Related Services: General Corporate...
The Abu Dhabi Global Market (ADGM) launched new Data Protection Regulations (“the Regulations”) on 14th February 2020, replacing the 2015 version. The new regulations broadly align itself with the European Union’s General Data Protection Regulation (GDPR), which is considered to be the gold standard for data protection legislation. Key Features of The Regulations The new...