The exponential growth rate and levels of foreign investment witnessed in the UAE have been mirrored by an increase in regulation and legislation. Regulatory and public law has a major impact on the entire business community, both domestic and foreign and as a firm we are well positioned to assist. We offer our clients commercial advice on all regulatory matters based on an intimate knowledge of the sector.

Our Chairman, Dr Habib Al Mulla, is the former Chair of the Dubai Financial Services Authority (DFSA) which is the regulator of all financial and ancillary services conducted in the Dubai International Financial Centre (DIFC). He was the architect of the legal structure which led to the establishment of the very first financial free zone in the UAE, bringing significant added value to any transaction.

As a local firm we maintain very close links with all UAE Ministries and Government Departments, including, but not limited to the UAE Ministry of Economy, UAE Ministry of Industry, UAE Ministry of Foreign Affairs, UAE Ministry of Justice, the Department of Economic Development in all Emirates, Municipalities and Free Zone Authorities. This enables us to provide consistently practical advice to our clients. 

Our involvement in major legal projects in the UAE is one of the aspects which helps to set Habib Al Mulla & Co. aside from other law firms. Each of our lawyers understands the important role of public bodies and our legislative reform team has worked on the following projects:

• Drafting the decree establishing the Dubai HealthCare City (DHCC);
• Researching, designing and drafting the Companies Licensing Regulations for the DHCC;
• Researching designing and drafting the Dispute Resolution provisions in the DHCC;
• Drafting the decree establishing the Dubai International Financial Center (DIFC);
• Researching, designing and drafting the Commercial Court Law for the DIFC;
• Drafting the decree establishing the Dubai Metals and Commodities Center (DMCC);
• Researching, designing and drafting the DMCC Bylaws;
• Researching, designing and drafting the Dubai Investment Promotion Law;
• Drafting the regulations of the Road & Transport Authority, Dubai;
• Drafting the regulations of the Abu Dhabi Tourism Authority;
• Drafting the laws establishing the Dubai Events Management Authority;
• Reviewed the Dubai Shooting Club By-laws;
• Reviewed bylaws of Dubai Quality Group;
• Drafting and advising on Dubai Financial Market CDS Rules; and
• Drafting and advising on the Federal Competition Law project.

Service

• Regularly counsel boards of directors, senior executives and individual officers and directors
• Audit existing corporate governance procedures and documentation
• Develop policies and procedures that meet regulatory requirements
• Ensure compliance that enhances board and managerial effectiveness, reducing directors' and officers' liability
• Establish and write:

• Internal controls and disclosure controls;
• Codes of ethics;
• Conflicts of interest and independence matters;
• CEO / CFO certifications and related disclosure;
• Charters and mandates for board and board committees;
• Position descriptions;
• Internal assessments, valuations and questionnaires;
• Receipt, retention and handling of complaints (whistle-blowing procedures);
• Help with the design of executive and employee compensation, pension and benefit plans;
• Design a framework for risk management and hedging;
• Assist with public disclosure;
• Review existing policies in light of "best practice" benchmarks to come up with practical solutions;
• Advise individual directors or independent committees on procedural or transactional matters;
• Provide "second" opinions to supplement those of current counsel or auditors
• Draft and review of laws and regualtions both at the UAE federal level and local emirate level
  

Our Experts

 

Eliane Nassour

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Position:	Senior Counsel, Dubai
Contact:	eliane.nassour@habibalmulla.com
Admitted:	1998, Beirut Bar Association
Education:	LLB, La Sagesse University, Lebanon, 1997
Language(s):	English, Arabic, French
Expertise:	Commercial Corporate Structuring & Restructuring Employment Law Intellectual Property/Franchising Mergers & Acquisitions Supply & Distribution
Practice & Experience:	Eliane has more than 14 years‘ experience in corporate and commercial law in the Middle East and a sound understanding of UAE laws.  She is experienced in mergers and acquisitions, restructuring, reorganisation and joint ventures. Eliane also advises on company formation as well as all associated commercial contracts and associated compliance with UAE laws and regulations. She is also experienced in commercial agencies law and employment law. Eliane also specialises in legislative drafting and regulatory matters and has reviewed, drafted and commented upon existing UAE laws and proposed amendments at a Federal and Emirate level.  Eliane holds an LLB from La Sagesse University in Lebanon and is admitted to the Beirut Bar Association. She is fluent in English, Arabic and French.

 

Mazen Boustany ACSI

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Position:	Partner, Head of Banking & Finance, Dubai
Contact:	mazen.boustany@habibalmulla.com
Admitted:	1997, Beirut Bar, Lebanon; Registered Practitioner in the DIFC Courts
Education:	Basel III professional 2011; Securities Certificate (endorsed by the FSSC & the FSA) 2010; FSA Financial Regulation Qualified (CISI), 2010; Islamic Finance Qualification, Securities and Investment Institute, UK, 2007; LLB in Lebanese Law, Saint Joseph University, Lebanon, 1996; Maitrise in Private Law, Paris II University, France, 1994; Maitrise in Political Sciences, Paris II University, France, 1994
Language(s):	English, Arabic, French
Expertise:	Banking & Finance Asset Finance / Securitisation Commercial Corporate Finance & Capital Markets Cross-Border Transactions Debt Restructuring Insurance/Takaful Law Investment Funds Islamic Finance Private Equity Arbitration / ADR
Practice & Experience:	Mazen has over 15 years’ experience in banking and finance law in the Middle East and has practised in the UAE for more than five years. He advises on all aspects of banking and finance law including Islamic finance, structured finance, securitisation, private equity, structuring and restructuring, cross-border transactions and investment funds. He is also experienced in domestic and international arbitration and is a qualified banker. Having spent many years as a senior in-house lawyer, Mazen’s advice is commercial and practical in nature. He frequently conducts training for corporate in-house teams on banking and finance law and regulation in the UAE. Mazen is fluent in English, Arabic and French and holds a Masters degree in Private Law and Political Sciences from Paris II University, an LLB from Saint Joseph University in Lebanon and an Islamic Finance Qualification from the Securities and Investment Institute in the UK.  He is a member of the Securities Industry Management Association (SIMA) and has been awarded the CISI Level 3 Certificate in Investments – Securities, he is also a certified Basel III professional (2011) and a DIAC qualified arbitrator. Mazen is admitted to the Beirut Bar and is a registered practitioner before the DIFC courts.
Publications/Papers:	"Mortgage Law in the UAE,” The Brief, February 2009 "Latest developments in Islamic Finance,” The Brief, January 2009 "Inheritance Law in the UAE,” The Brief, October 2007
Publications:	Shenanigans over sharia (Letter to the Editor) by Mazen Boustany, The Brief, 2008 (157 KB )   Taking back distressed assets by Mazen Boustany, The Brief, February 2009 (1.290 KB )   Lessons to be learned by Mazen Boustany and Muhammad Syamsulfaiz Bin Zainuddin, Asian-Counsel, March 2010 (2.009 KB )   UAE Insolvency law Exists by Mazen Boustany, The In-House Lawyer, May 2010 (1.693 KB )   What went wrong? Credit crisis and Islamic finance by Mazen Boustany & Muhammad Syamsulfaiz, The In-House Lawyer, June 2010 (1.787 KB )   Rethinking UAE Insolvency Law by Mazen Boustany, The Brief, July 2010 (672 KB ) Combatting Fraud and AML in the UAE Dubai Mortgage Law: Much ado about nothing The pledge of commercial premises The pledge of a banking deposit.
Speaking Engagements:	•    CCME Roundtable, Islamic Finance vs Conventional Finance.      11th March 2012 •    CCME Roundtable, Anti-corruption, issues and implications for      UAE companies. 26th February 2012 •    The 8th Annual ME Insurance Forum, Bahrain, February 2012 •    Bribery and Corruption in SWF, a practical application, 3rd Middle      East Summit on Anti-Corruption, January 2012 •    Mutual legal assistance, cooperation and collaboration in the      context of the UAE, C5, January 2012 •    C5 Fraud and Asset Tracing and Recovery, Dubai, 24th January       2011 •    The impact of shari’a on the insolvency of Islamic Financial      Institutions - IBA Conference, Dubai, November 2011 •    Fraud and AML in the UAE  - C5, Fraud, Asset Tracing and      Recovery Conference, Dubai, January 2011. •    Shari’a and Islamic Finance in the UAE - IBA Islamic Conference      Dubai, November 2010. •    IBA Islamic Finance day in Dubai, 3rd November 2010 •    Canadian Business Council, June 2010                        •    Saudi Investment Private Equity Summit, Saudi Arabia, April 2010 •    DIAC Roundtable on Insolvency, Dubai Chamber, March 2010 •    Introduction to Islamic Finance, Asian In-House Counsel, Hong      Kong, March 2009 •    Islamic Financial Products, In-House Counsel, Dubai, February      2009
Professional Associations and Memberships:	Associate at the Chartered Institute for Securities and Investment External Subject Matter Expert for "The EDCOMM Group Banker’s Academy" Member of the Securities Industry Management Association (SIMA)