Artificial Intelligence (AI) is the ultimate end result of the IT revolution which have started towards the end of last century. We have benefited from this revolution in many sectors and more e-inventions are yet to come. IT revolution, opened new routes enabling technology to grow and expand. The result
Phishing, this relatively new electronic crime, refers to luring techniques used by identity thieves to “fish” for personal information in a pond of unsuspecting internet users. It is a general term for the creation and use by criminals of e-mails and websites that have been designed to look like they
In many cases between banks and customers, the issue of “undue influence” has been raised. What is the legal meaning of undue influence? In Morgan case, the husband who was in difficulties with business was unable to meet repayments due under a mortgage secured over the home which he owned
Banking transactions require connection between different banks, due to the nature of this business. When a bank needs to provide or use banking services in another country, they may engage a correspondent bank in that jurisdiction to work on their behalf. As most jurisdictions require overseas banks to open a
Syndicated loans are expanding due to many reasons including the look of the lenders to enter new markets and diversify their business investments. Moreover, the banking laws put certain ceilings to be observed in giving loans to any single borrower and because of this lenders join hands to share big
In previous two articles highlighting the new law regulating virtual assets in Dubai, I have explained certain terms related to virtual assets language, such as “virtual assets”, “virtual token”, “virtual assets platform”, “distributed ledger technology”, “virtual asset provider”, “virtual asset portfolio”, “authority”, “activity”, “beneficiary” ….., etc. After explaining the language
Dubai passed the Law No (4) of 2022, to regulate “Virtual Assets”. The law established “Dubai Virtual Assets Regulatory Authority”, as legal entity of financial, administrative independence and legal capacity to perform its objectives.Objectives of the Authority include, inter alia, promoting Dubai position as regional and global destination in Virtual
Banks are generally more responsive to crisis and what happened to many banks during the financial crisis in America, is evident and could continue for long time. There are many regulations to streamline the banking industry. In US, The Dodd-Frank Wall Street Reform and Consumer Protection Act was passed mainly
After Russia started the war against Ukraine this week, most of the countries condemned and stood firmly against this aggression which shows clear violation to the international law. One of instances of embargo or economic sanctions was immediately taken by preventing Russia from using “SWIFT” system for banking transfers and
Main duties of banks include giving loans and facilities. This venture, brings profits to banks, nevertheless, it is full of risks. The associated risks are numerous, however, let’s take legal risks as example. This risk includes many issues as choice of the applicable law, jurisdiction and others including documentation. The