The rapid advance of artificial intelligence (AI) is proving to be a complex issue for governments around the globe. Currently, international governing bodies are taking steps to regulate AI tools to ensure they are used in an ethical and safe way. There are many key issues that must be addressed by regulators as the potential...

The rapidly growing sector of Islamic finance, which was informally operating in the Russian Federation, has received endorsement from the government for the first time in legislation on 4 August 2023. Russian President Vladimir Putin signed Federal Law No. 417-FZ dated 04.08.2023, this law plans to introduce Islamic banking to assess its ‘feasibility’. The 2-year...

On 4 September 2023, the UAE Cabinet approved a new system for employees in the private sector and free zones of the UAE. The scheme will be optional for employers to join. The system will introduce a savings and investment fund from the private sector which will be overseen by the Securities and Commodities Authority...

On 31 January 2022, the UAE government announced that it would implement corporate tax at a rate of 9% on all profits above AED 375,000 generated by businesses in the UAE beginning 1 June 2023. Businesses with tax years beginning in January will not have to start paying tax on their revenues generated before 1...

The UAE has introduced a raft of liberal legal reforms as it tries maintaining itself as the regions trade, tourism and financial hub. The state-run news agency WAM announced that the UAE has established the General Commercial Gaming Regulatory Authority (GCGRA), which will be headed by the former Missouri Gaming Commission executive Director, Kevin Mullally....