Book an appointment with us, or search the directory to find the right lawyer for you directly through the app.
Find out moreThis comprehensive guide is designed to help you navigate the intricate landscape of family business and private wealth in the Middle East, where family businesses constitute approximately 60% of GDP and employ 80% of the workforce in the GCC, offering unparalleled opportunities for wealth creation and preservation.
Packed with insights, strategies, and expert advice from our talented lawyers, Legacy provides tailored solutions to the unique challenges of asset protection, succession planning, and dispute resolution in this dynamic region.Read the publication and equip yourself with the knowledge and tools necessary to thrive, whether you’re a seasoned investor, a family business owner, part of the next generation, or a newcomer exploring opportunities in the region.
Read NowTo capitalise on the growth of the global private credit market in the past decade, the Financial Services Regulatory Authority (“FSRA”) is proposing to expand the current range of funds available in the Abu Dhabi Global Market (“ADGM”) to include Private Credit Funds within its existing collective investment funds regulatory framework. A credit fund will be able to invest in credit facilities it originates, participates in or acquires from third parties.
The FSRA proposes that Private Credit Funds and their fund managers be exempted from the requirement to hold a Financial Service Permission, or satisfy a specified Base Capital Requirement, to carry on the regulated activities of ‘Providing Credit’ or ‘Arranging Credit’. However, given the inherent risks and limited liquidity of credit funds, the framework will provide certain operating restrictions and requirements:
Fund managers currently operating or seeking to operate in the ADGM and other concerned stakeholders are invited to comment and provide feedback before the deadline of 27 January 2023. You can find the consultation paper here.
At Al Tamimi & Co we regularly advise local, regional and global financial institutions on FSRA rules, ADGM legal developments and licensing of regulated financial services providers.
To learn more about our services and get the latest legal insights from across the Middle East and North Africa region, click on the link below.