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Industry development DIFC introduced and updated laws and regulations to reflect global best practices and distinguish itself as the leading financial centre in the MEASA region. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, enacted the new Leasing Law and the new Data Protection Law in January and June 2020, respectively. The new Leasing Law provided further protection to property owners and tenants, aligning the Centre's legal and regulatory framework with best practice and international standards. The new Data Protectio...

More claimants are choosing 'opt-in' clause to get their cases heard by DIFC Courts The Court of First Instance under DIFC Courts had a fairly busy time of it in 2020. There were sharp increases in the claims volume as well as number of cases. Image Credit: Supplied Dubai: The Court of First Instance under DIFC Courts recorded cases with combined claims of Dh9.95 billion in 2020, a sharp 72 per cent increase over 2019. Nearly 50 per cent of these cases were brought to this Court through the ‘opt-in’ clause, which allows the parties in the dispute to transfe...