Legal counsel for banks and financial institutions in the UAE.

UAE real estate mortgages must be registered at the Dubai Land Department (DLD) to be legally effective against third parties. Registration requires: execution of a notarised mortgage agreement, submission of the title deed, payment of DLD fees (0.25% of the loan amount), and entry of the mortgage in the DLD register. Enforcement of a defaulting mortgage proceeds through the Dubai Courts (not via private sale) unless the mortgage deed contains a specific power of attorney for court-free enforcement — which UAE courts are increasingly willing to give effect to where properly drafted. First-ranking DLD mortgages give the lender priority over subsequent encumbrances. We advise on mortgage structuring at origination and manage the enforcement process through the courts.

UAE banks licensed by the Central Bank of UAE (CBUAE) must comply with: Federal Law 14/2018 (Regulation of Licensing of Financial Activities), CBUAE Consumer Protection Regulation (2021), Anti-Money Laundering and Countering Financing of Terrorism Legislation (AML/CFT), Capital Adequacy and Basel III requirements, credit concentration limits, liquidity coverage ratios, and the Interest Rate Risk Framework. NBFIs and finance companies face additional licensing requirements under Regulation 35/2017. DFSA-regulated firms in DIFC and FSRA-regulated firms in ADGM operate under separate frameworks. We advise on regulatory approvals, on-site examination preparation, and enforcement actions by the CBUAE.

The primary routes are: (i) onshore litigation — filing a civil claim before the Dubai or Abu Dhabi courts; courts can grant attachments (precautionary and executionary) and payment orders in straightforward cases within 3–6 months; (ii) criminal complaint — issuing a bounced cheque complaint where a cheque was issued in connection with the debt (note: UAE decriminalised bounced cheques in some cases but criminal complaints remain available for fraudulent intent); (iii) DIFC/ADGM litigation for facilities governed by DIFC/ADGM law; (iv) arbitration where the facility agreement contains an ICC or DIAC arbitration clause. We manage debt recovery portfolios for UAE and international banks and have experience enforcing foreign judgments and arbitral awards in the UAE.

Foreign judgments: the UAE does not have a treaty with most common-law jurisdictions for automatic recognition. The onshore UAE courts will recognise and enforce foreign judgments under the conditions in Article 85 of Federal Law 11/1992 (Civil Procedure Code) — broadly, that the foreign court had jurisdiction, the judgment is final, it does not contradict UAE public policy, and the defendant was properly served. In practice, DIFC and ADGM Courts (both common-law, English-language courts) are increasingly used as enforcement 'gateways' into the UAE for foreign judgments, using the DIFC/ADGM's reciprocal enforcement arrangements with other common-law jurisdictions. Foreign arbitral awards are enforced under the New York Convention (which the UAE ratified in 2006). UAE domestic and DIFC/ADGM courts have generally enforced NYC awards.

The UAE offers fintech licensing in three main frameworks: (i) DFSA in DIFC — Innovation Testing Licence (ITL), Money Services Licence, and various investment/payment product licences; (ii) FSRA in ADGM — Retail/Wholesale Financial Services Permission, Digital Asset Framework; (iii) CBUAE-licensed — PSP (Payment Service Provider) licence under Regulation 20/2021, and retail remittance licences. CBUAE sandbox (the FinTech Rapid Licensing Programme) is available for innovation testing. Licensing timelines range from 6–18 months. Minimum capital requirements vary from AED 500K (CBUAE remittance) to AED 10M+ for full PSP licences. We advise on licence structuring, application preparation and ongoing compliance.