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DIFC Courts
The DIFC Courts are an independent English language common law judiciary, based in the Dubai International Financial Centre (DIFC) with jurisdiction governing civil and commercial disputes nationally, regionally and worldwide. The Courts began operations in 2006. Originally, the jurisdiction of the DIFC Courts was limited to the geographical area of the DIFC. On 31 October 2011, the signing of Dubai Law No 16. allowed the DIFC Courts to hear any local or international cases and to resolve commercial disputes with the consent of all parties. The DIFC Courts are part of the sovereign structure of the Emirate of Dubai, within the UAE and independent from the Dubai Courts and Government of Dubai. Specifically, Dubai Law No.12 of 2004 ('Dubai Law No.12') is the governing statute which originally established the DIFC Judicial Authority (including the two DIFC Courts, the Court of First Instance and the Court of Appeal). History In September 2004, Federal legislation of the UAE authori ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. '' Stare decisis'', the principle that cases should be decided according to consistent principled rules so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is a special economic zone in Dubai covering , established in 2004 as a financial hub for companies operating throughout the Middle East, Africa and South Asia (MEASA) markets. DIFC is regulated by the Dubai Financial Services Authority, an independent regulator exclusive to the zone, and by its own court system, DIFC Courts, separate from the Emirate of Dubai's legal system and that of the federal government of the UAE. DIFC follows the common law framework and operates in English. The freezone houses financial institutions, and wealth funds in addition to retail and hotel space dedicated to the free zones. DIFC is one of Dubai's independent free-zones; it offers companies 100% ownership without the need for a local partner. DIFC offers clients a 50-year guarantee of zero taxes on corporate income and profits, complemented by the UAE's network of double taxation treaties. Independent jurisdiction The DIFC is an independent jurisdi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dubai
Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of the Middle East and North Africa. D Long, B Reich. p.157 Established in the 18th century as a small fishing village, the city grew rapidly in the early 21st century with a focus on tourism and luxury, having the second most five-star hotels in the world, and the tallest building in the world, the Burj Khalifa, which is tall. In the eastern Arabian Peninsula on the coast of the Persian Gulf, it is also a major global transport hub for passengers and cargo. Oil revenue helped accelerate the development of the city, which was already a major mercantile hub. A centre for regional and international trade since the early 20th century, Dubai's economy relies on revenues from trade, tourism, aviation, real estate, and financial services. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dubai Courts
The Dubai Courts ( ar, محاكم دبي) are a Government of Dubai department responsible for the management, administration, hearing and issuing of judicial judgements for the Emirate of Dubai. The department is led by a Director-General who sits at the Dubai Executive Council and reports directly to the Ruler of Dubai. The department has been led by Director-General Tarish Eid Al Mansouri since 2014. Dubai Courts is the main department responsible for the judicial branch of the Emirate of Dubai, and operates independently of the Dubai Public Prosecution, and the Dubai Legal Affairs department which represents the Government of Dubai in legal matters. It has jurisdiction across the Emirate, except for specific free economic zones like the Dubai International Financial Centre which may retain special jurisdiction for commercial and labour matters. History Judicial enforcement in Dubai was informally led by the Sheikh or Ruler in 1833, solving simple disputes between individ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Dubai
The Government of Dubai ( ar, حكومة دبي) is the subnational authority that governs the Emirate of Dubai, one of the seven constituent monarchies which make up the United Arab Emirates. The executive authority and head of the government is the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum. The Ruler of Dubai appoints the Dubai Executive Council, which is led by the Crown prince of Dubai and is responsible for the day-to-day management of Dubai Government agencies such as the Dubai Municipality and numerous other governing entities. History Since 1830, the Emirate of Dubai had a semi-autonomous government led by the Ruler of Dubai, who would delegate responsibilities of managing the affairs of the emirate to representatives in an informal government. Prior to the unification of the United Arab Emirates, Dubai had already started issuing local laws as part of the Trucial States on matters of taxation and trade, allowing the emirate to attract foreign trade and develop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sheikh Maktoum Bin Rashid Al Maktoum
Sheikh Maktoum bin Rashid Al Maktoum ( ar, مكتوم بن راشد آل مكتوم, Maktūm bin Rāshid Āl Maktūm; 15 August 1943 – 4 January 2006) was an Emirati politician who served as the vice president and prime minister of the United Arab Emirates (UAE) as well as the ruler of Dubai. He was initially prime minister of the UAE from 1971 to 1979. He later served as the country's vice president and prime minister, and as ruler of Dubai, from 1990 to 2006. Maktoum was well regarded with being one of the key people in creating the UAE in 1971. He started the project of Dubai when he suddenly suffered a heart attack and was succeeded by his brother Mohammed, the current ruler of Dubai. Early life He was born in 1943 in Al Shindagha, Dubai to the Al Maktoum family of the Al Bu Falasah tribe. Political career His father Sheikh Rashid bin Saeed Al Maktoum became the Ruler of Dubai upon the death of his own father, Sheikh Saeed bin Maktoum bin Hasher Al Maktoum (Saeed II) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dubai Financial Services Authority
The Dubai Financial Services Authority (DFSA) is the financial regulatory agency of the special economic zone, the Dubai International Financial Centre (DIFC), In Dubai, United Arab Emirates. It is distinct from the UAE's federal Securities and Commodities Authority, whose jurisdiction covers the wider UAE outside the boundaries of the DIFC. It operates only within the special economic zone and is tasked with providing a regulatory environment of international standards. The DFSA's regulatory mandate includes asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange, and an international commodities derivatives exchange. In addition to regulating financial and ancillary services, the DFSA is responsible for supervising and enforcing anti-money laundering (AML) and counter-terrorist financing (CTF) requirements applicable in the DIFC. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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