59A7D41EB44EABC4F2C2B68D88211BF4 UAE Visa Rules & Procedures - UAE Law Updates for 2025: The National
Showing posts with label The National. Show all posts
Showing posts with label The National. Show all posts

Monday, February 27, 2017

New law will see justice dealt out of court in Dubai

Minor cases will soon be settled quickly outside court as part of a new law intended to streamline judges’ workloads.

In some misdemeanour cases such as low-value bounced cheques or drinking alcohol without a licence, prosecutors can issue an order similar to a court’s verdict and issue fines of about half the amount a court would have imposed.

The law will come into effect within three months and follows the success of a one-day court in Ras Al Khaimah, which has led to some cases being resolved in less than an hour.

Plaintiffs go directly to the judge’s office at RAK Courts to press charges, summon their opponents and receive a verdict as quickly as possible.

The new law will not apply to all types of misdemeanours.

Dubai’s attorney general is drawing up a list of petty crimes that prosecutors will be able to handle quickly.

Once issued, a judicial order can either be accepted or rejected within a week by those involved. If the order is rejected, both parties can insist on having the case referred to court.

Senior prosecutors will be assigned by the attorney general to revise all judicial orders and amend or cancel them within seven days.

The new law says the aim is to "secure speedy settlements that are in line with the legal process, curbing the number of criminal cases referred to court and to simplify legal procedures and save time, as well as effort and costs".

Judge Ezzat Abdullah praised the law as a great addition that would noticeably reduce the number of cases heard in courtrooms every day.

Yousef Al Bahar, from Al Bahar Advocates, said similar laws had been introduced in other Arab countries.

"This will contribute to further take Dubai towards excellence," Mr Al Bahar said.

Emirati lawyer Eman Al Rifaee agreed: "This is great. Some cases are not worth taking to court and this will free judges to handle other cases without being tight on time owing to a large number of cases they hear every day."

Tuesday, August 2, 2016

UAE Finance Ministry expects approval of federal debt law this year

Younis Al Khouri, the undersecretary at the Ministry of Finance, speaks during a news conference announcing the release of the statistical report on the Gulf Common Market at the Ministry of Finance in Abu Dhabi on August 2, 2016. Christopher Pike / The National
The UAE finance ministry expects this year the approval of a federal debt law that will allow the government to sell bonds on a federal level, a ministry official said.

The ministry has been working on the federal debt law for years. Currently, individual emirates, mainly Abu Dhabi and Dubai, have tapped the international bond markets.

"We have one clause outstanding, which is the debt ceiling and the servicing of the debt," said Younis Al Khouri, the undersecretary at the Ministry of Finance. "Once we agree with the central bank then we will go to the council of ministers for approval and after that is the FNC (Federal National Council) approval.

The UAE could raise between Dh80 billion and Dh100bn via a bond sale, Mr Al Khouri said in February.

Debt issuance in the UAE is expected to accelerate as the country seeks to finance a fiscal deficit, which reached 2.1 per cent of GDP last year, according to IMF estimates.

In April, Abu Dhabi raised US$5bn from the international debt markets, its first bond sale since 2009.

The IMF has called on the UAE to tap the bond markets and the assets of its sovereign wealth funds rather than draw down its local bank deposits to balance its budget.

The IMF is forecasting that the UAE’s cumulative fiscal deficit will reach $18.4bn between this year and 2021 as low oil prices reduce government income.

As a result of expected higher debt issuance, the country’s gross public debt to GDP ratio is forecast to rise to 17 per cent next year from 16.6 per cent at the end of last year, the fund said. The debt-to-GDP ratio averaged 18.5 per cent between 2005 and 2013.