Since the UAE Federal Arbitration Law came into force on 15 June 2018, a number of procedural developments have been introduced in relation to both the conduct of arbitration proceedings and the enforcement of arbitration awards before the local UAE courts. The Federal Arbitration Law has repealed the Arbitration Chapter of the UAE Civil Procedures Code and has addressed the common pitfalls that existed under the old arbitration regime.
The Dubai International Financial Centre (DIFC) has reinforced its position as one of the world’s top financial and business centres, introducing changes to its companies regime and enhancing the ease of doing business in the centre. On 12 November 2018, the DIFC has issued amongst other laws and regulations, the DIFC Companies Law No. 5 of 2018 (Companies Law 2018), repealing the previous Companies Law No. 2 of 2009 (Previous Law).