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Find out moreWelcome to this edition of Law Update, where we focus on the ever-evolving landscape of financial services regulation across the region. As the financial markets in the region continue to grow and diversify, this issue provides timely insights into the key regulatory developments shaping banking, investment, insolvency, and emerging technologies.
2025 is set to be a game-changer for the MENA region, with legal and regulatory shifts from 2024 continuing to reshape its economic landscape. Saudi Arabia, the UAE, Egypt, Iraq, Qatar, and Bahrain are all implementing groundbreaking reforms in sustainable financing, investment laws, labor regulations, and dispute resolution. As the region positions itself for deeper global integration, businesses must adapt to a rapidly evolving legal environment.
Our Eyes on 2025 publication provides essential insights and practical guidance on the key legal updates shaping the year ahead—equipping you with the knowledge to stay ahead in this dynamic market.
On 2 February 2022, Federal Decree Law No. 33 of 2021 as amended (the “New Labour Law”) came into force which required all employees to be transitioned across from unlimited term contracts to fixed term contracts by 1 February 2023.
However, on 25 January 2023, the UAE government issued Ministerial Resolution No. 27 of 2023 (the “Resolution”), which extends the deadline from 1 February 2023 to 31 December 2023. This will be a welcome relief for many employers who are working around the clock to meet the original February deadline.
The Resolution will come into effect from the date of publication in the official gazette, which is yet to be confirmed.
Any employers who have not yet completed the migration to fixed term contracts should ensure they do so in good time before the end of the year.
We look forward to working with you to ensure that you are fully compliant with the New Labour Law. Please let us know whether you wish to arrange a meeting or call to discuss further.
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