"I'm a Funding Strategist and Legal Expert specializing in project funding across the UAE and Saudi Arabia. As the Founder of Bucks Capital & FinMaag, I help clients secure international capital via Venture Capital, Debt Finance, and Real Estate. My legal background (Calicut Law College Alumnus) ensures every deal is robust and legally sound."
Monday, August 15, 2016
Mandatory benefits to employees in Jebel Ali Free Zone
Employees
working in firms operating under the jurisdiction of the Jebel Ali Free Zone
Authority (Jafza) are entitled to mandatory termination benefits as per the
laws of the free zone. If the dismissal is deemed to be arbitrary, the employee
shall be entitled to compensation in addition to severance payments due that
are governed by the employment contracts in Jafza.
Compensation
you are entitled to: According to Rule 11.8.7 of Jafza employment law, the
amount of compensation that will be payable to a terminated employee shall be
decided by the deemed authority here and will not exceed three times the total
of the basic monthly wage and allowances as specified in the employment
agreement.
Gratuity
payment at termination: An employee whose service exceeds one year shall be
entitled to a gratuity payment on termination of service at the rate of 21
calendar days pay of the last month’s basic salary (or more if the employment
agreement so specifies) for each year of service for the first 5 years.
For
each additional year, the amount increases to 30 calendar days of the last
month’s basic salary, provided that the maximum payment does not exceed two
years’ basic salary.
After
the first year, payment will be pro-rata for the period served. The regulation
clarifies that gratuity shall be calculated at the basic pay rate as defined in
the employment agreement.
Airfare
to home country: When an employee’s services are terminated, airfare to the
international airport nearest to the employee's home should be offered. This is
applicable at the expiry of the employment agreement or when the employment
agreement is terminated by the client prior to its expiry.
If
an employee’s annual contract is automatically renewed in accordance with the
employment agreement, the employee is entitled to airfare either in the event
of submitting a resignation or on dismissal, whenever this occurs.
However,
if the employee has already availed the ticket for the completed contract
period, s/he will not be entitled to an additional airfare for the same period.
A
free service certificate :If the terminated employee wishes for some kind of
record, he can request a service certificate, which is to be provided free of
charge. The certificate will have details of the employee such as period of
service, work performed while employed, final rate of pay and bonus, if any,
and a character reference. These things can come in handy while applying for a
new job elsewhere.
"Mohandas Kattungal, BA LLB As a Funding Strategist and Legal Expert, I specialize in navigating the complex landscapes of project funding across the UAE and Saudi Arabia. I am the Founder of Bucks Capital & FinMaag, where I advise clients on securing international capital through Venture Capital, Debt Finance, and Real Estate mechanisms. My background as a Calicut Law College Alumnus ensures a robust, legally sound approach to every deal.
Tuesday, August 2, 2016
New Era for UAE Finance: Federal Debt Law Unlocks Sovereign Bond Market
"Mohandas Kattungal, BA LLB As a Funding Strategist and Legal Expert, I specialize in navigating the complex landscapes of project funding across the UAE and Saudi Arabia. I am the Founder of Bucks Capital & FinMaag, where I advise clients on securing international capital through Venture Capital, Debt Finance, and Real Estate mechanisms. My background as a Calicut Law College Alumnus ensures a robust, legally sound approach to every deal.
Friday, July 22, 2016
U.A.E amended Federal Law to control Cyber Crimes
Sheikh Khalifa issued Federal Law No. 12/2016
amending Federal Law No. 5/2012 on combating information technology crimes.
Article 1 provides for replacing the text of
Article 9 of Federal Law No. 9/2012 as follows:
Whoever uses a fraudulent computer network
protocol address (IP address) by using a false address or a third-party address
by any other means for the purpose of committing a crime or preventing its
discovery, shall be punished by temporary imprisonment and a fine of no less
than Dh500,000 and not exceeding Dh2,000,000, or either of these two penalties.
Article 2 of the law states that the law shall
be published in the Official ‘Gazette’ and shall come into effect the day
following publication.
Ministry of Foreign Affairs
Federal Law No. 10/2016 amends some of the
provisions of Federal Law No. 45/1992 on regulating the work of the Ministry of
Foreign Affairs.
The first article of the law, published in the
latest issue of the Official ‘Gazette’, changes the text of Clause 10 of
Article 2 of Federal Law No. 45/1992 and replaces it with the following text:
Issuance and renewal of diplomatic and special
passports for nationals of the state as well as service passports. Specifying
the eligible groups (of people) and rules for issuing these passports as an
exception from the provisions of Federal Law No. 17/1972 on naturalisation and
passports and amendments. A diplomatic or special passport is given to groups
of people, who are not specified in the previous clause, excluding their
families, and by virtue of a decision made by the President or the
Vice-President of the State, based on a proposal from the Foreign Minister.
Article 2 states that each and any provision
that contradicts the provisions of this law shall be abolished.
Article 3 provides for the publication of this
law in the Official Gazette and that it will come into effect the day after
publication.
National Media Council
Sheikh Khalifa also issued Federal Law No. 11/
2016 regulating the competencies of the National Media Council.
According to the law, the National Media
Council is the federal government body established to oversee and undertake the
media affairs of the United Arab Emirates. It has corporate character, an
independent budget and the legal capacity required to undertake all activities
to ensure achievement of its goals. It is a government body affiliated with the
Cabinet and shall have its seat in Abu Dhabi City. The Council may set up
branches and offices inside and outside the UAE.
Article 4 of the law states the objectives of
the NMC and accordingly it shall develop the UAE's media policy, draft media
legislation and ensure its execution and co-ordinate the media policy between
the emirates, in line with the UAE's domestic and foreign policy to ensure
support for the Federation of the UAE and project national unity.
Article 5 states the NMC's scope of
jurisdiction which includes the following:
Developing and executing the required policies
and plans to develop the media sector; proposing bills and regulations relating
to the work of the Council in coordination with the relevant authorities in the
country; proposing regulations, standards and foundations required for
licensing and accrediting media outlets and their staff and activities,
including e-publishing; issuing rules and regulations that ensure the
achievement of the Council's goals in line with the controls it specifies;
coordinating with the authorities of media free zones on developing an
organisational framework to regulate the Council's relationship with these
zones; representing the UAE at media meetings, events and activities in and
outside the UAE; undertaking any other relevant responsibilities specified by
the Cabinet's regulations and resolutions.
Article 6 states that a Board of Directors,
formed by virtue of a decision issued by the Cabinet, shall run the Council.
Article 7 states that the Board of Directors is
the supreme authority of the Council and shall accordingly exercise all its
powers and the required authority. It may develop the Council's general policy,
propose amendments to the required plans and follow up the plans for their
execution, propose draft regulations pertaining to the work and competencies of
the Council as well as to the achievement of its objectives and submitting the
same to the Cabinet for approval as well as the preparing of a draft
organisational structure for the Council, specifying the responsibilities and
competencies and departments of the Council, and submit the same to the Cabinet
for approval, propose a draft annual budget for the Council and a draft annual
closing account in addition to any other competencies delegated to the Board by
the laws, regulations and resolutions issued by the Cabinet. The Board may also
delegate some of its competencies to its Chairman.
According to the law, the Chairman of the
National Media Council is responsible for overseeing the management of the
Council for all aspects in line with the provisions of the Council's effective
regulations. The Council shall have a director general, to be appointed by
virtue of a federal law based on a proposal from the Chairman, who will be the
legal representative of the Council. The Board of Directors shall issue a
decision specifying the Chairman's competencies and jurisdiction.
Article 10, a clause about the standards and
regulations issued by the Council, states that media organisations in the state
must comply with the regulations and rules issued by the Council, as well as
commit themselves to provide information and data required by the Council to
achieve its objectives.
Article 11 states that the fiscal year of the
Council shall start on the 1st of January and ends on the 31st of December
every year.
According to the law, regulations and decisions
which are effective in the National Media Council shall remain enforced at the
time of issuance of the law without conflict with its provisions.
The law shall be published in the Official
‘Gazette’ and will come into effect the day following publication.
Labels:
Cyber Crime,
information Technology,
U.A.E Law
"Mohandas Kattungal, BA LLB As a Funding Strategist and Legal Expert, I specialize in navigating the complex landscapes of project funding across the UAE and Saudi Arabia. I am the Founder of Bucks Capital & FinMaag, where I advise clients on securing international capital through Venture Capital, Debt Finance, and Real Estate mechanisms. My background as a Calicut Law College Alumnus ensures a robust, legally sound approach to every deal.
Tuesday, July 19, 2016
Low-income workers get free housing in U.A.E
Free housing must be provided to workers who earn less than Dh2,000 a month from December on-wards, the UAE Ministry of Human Resources and Emiratisation announced 18th July 2016
Companies across the nation with more than 50 workers must comply with the ruling, which was issued by Saqr Ghobash, UAE Minister for Human Resources and Emiratisation. He warned that regular inspections visits would be undertaken by the ministry to ensure compliance, and that legal action will be pursued against firms that fail to adhere to the regulation.
“Experts spent several months studying the living conditions of low-skill workers. The decision comes after these recent studies into the labour market,” said Ghobash.
Accommodation for workers in companies employing more than 500 people has been regulated by the ministry since 2014. The applicable standards cover details such as the location of the accommodation, the provision of hygiene and medical facilities, and the availability of safety equipment and protocol.
Low-income workers welcomed the new decree, saying that paying rent is often a massive drain on meagre incomes.
Shajal, who earns about Dh1,000 and sends Dh700 of it home to support his family, said secure accommodation is a boon.
B.K., an Indian painter, also lives in a dedicated labour accommodation facility in Abu Dhabi’s Musaffah area.
“I am thankful for this accommodation as it is very difficult to find a room, especially because of the high rents. For example, sharing a room can set you back about Dh500, which is half my monthly income,” he explained.
Raj Praveen, a division manager at National Trading and Pharmaceutical Establishment, a trading company, said that many of the firm’s 2,000 workers live in accommodation located in Dubai’s Sonapur area.
“These workers earn very little, and having to pay rent makes things even more difficult for them. This ministry decree will therefore provide much relief,” he said.
“We provide both food and accommodation for our low-skill workers, and we believe that it improves their productivity and morale,” Rajpraveen added.
As reported by Gulf News, the minister had announced in January that companies which fail to provide labour accommodation short of international standards and requirements will not be granted new work permits.
“We want to ensure that labourers are not cheated of their rights, and that their living conditions are comfortable, sanitary and humane,” he had said.
Companies across the nation with more than 50 workers must comply with the ruling, which was issued by Saqr Ghobash, UAE Minister for Human Resources and Emiratisation. He warned that regular inspections visits would be undertaken by the ministry to ensure compliance, and that legal action will be pursued against firms that fail to adhere to the regulation.
“Experts spent several months studying the living conditions of low-skill workers. The decision comes after these recent studies into the labour market,” said Ghobash.
Accommodation for workers in companies employing more than 500 people has been regulated by the ministry since 2014. The applicable standards cover details such as the location of the accommodation, the provision of hygiene and medical facilities, and the availability of safety equipment and protocol.
Low-income workers welcomed the new decree, saying that paying rent is often a massive drain on meagre incomes.
Shajal, who earns about Dh1,000 and sends Dh700 of it home to support his family, said secure accommodation is a boon.
B.K., an Indian painter, also lives in a dedicated labour accommodation facility in Abu Dhabi’s Musaffah area.
“I am thankful for this accommodation as it is very difficult to find a room, especially because of the high rents. For example, sharing a room can set you back about Dh500, which is half my monthly income,” he explained.
Raj Praveen, a division manager at National Trading and Pharmaceutical Establishment, a trading company, said that many of the firm’s 2,000 workers live in accommodation located in Dubai’s Sonapur area.
“These workers earn very little, and having to pay rent makes things even more difficult for them. This ministry decree will therefore provide much relief,” he said.
“We provide both food and accommodation for our low-skill workers, and we believe that it improves their productivity and morale,” Rajpraveen added.
As reported by Gulf News, the minister had announced in January that companies which fail to provide labour accommodation short of international standards and requirements will not be granted new work permits.
“We want to ensure that labourers are not cheated of their rights, and that their living conditions are comfortable, sanitary and humane,” he had said.
"Mohandas Kattungal, BA LLB As a Funding Strategist and Legal Expert, I specialize in navigating the complex landscapes of project funding across the UAE and Saudi Arabia. I am the Founder of Bucks Capital & FinMaag, where I advise clients on securing international capital through Venture Capital, Debt Finance, and Real Estate mechanisms. My background as a Calicut Law College Alumnus ensures a robust, legally sound approach to every deal.
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