To share knowledge about new rules and regulations “Al Masraf “ held a seminar for customers about latest changes
- On 05/06/2017
In line with its “knowledge Sharing” scheme, The Arab Bank for Investment and Foreign Trade “Al Msraf” held a seminar for its customers and strategic partners to discuss the latest key changes to the regulatory and legal framework, focusing specifically on the recently approved bankruptcy law, mortgage of movables and land grants.
The seminar was held at the bank’s headquarters in Abu Dhabi, in cooperation with the Eversheds Office and Abdalla Al Nakhi Advocates & Legal Consultants.
During the seminar, the speakers reviewed the recent bankruptcy law as an important addition to the UAE’s legislative system and business environment. The new rules and regulations will support sustained economic growth, boost the national economy’s progress to international levels, encourage more foreign investment and stimulate banks to finance small and medium-sized enterprises. The speakers also discussed the legislative and legal frameworks related to the mortgage of movables and land grants law.
Mr. Razi Hiyasat, Head of the Legal Department and Secretary of the Board of Directors, “Al Masraf” said: “We are pleased with our customers’ zealous response to attend the seminar.”, he added, “We look forward through these special events, to provide our customers and partners with the latest economic and legal developments. We are keen on helping them make sound decisions by enhancing their legal awareness about the various developments in the banking and economic sectors. That, for sure, will help them in running their own business.”
Mr. Razi emphasized the plans of Al Masraf to host such seminars on a regular basis noting that the bank will invite senior experts and specialists in various areas of banking to address participants.
Mr. Ali Abdullah Al Shaikh from Abdalla Al Nakhi Advocates & Legal Consultants talked about the legal and legislative framework regarding the lands granted by the Ruler of Dubai. He shed lights on the land granted to the citizens, which ended with the issuance of Decree 31/2016. The decree stipulated that the aim of the mortgage is to invest the amount borrowed for the purposes of maintenance, expansion or construction. The seminar also reviewed some of the practical problems facing banks.