Gulf Finance Awards - An Overview

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b. Contrary into the assertion by Respondents one and three that the Dubai Courtroom had unique jurisdiction, there just was no proof and no authorized authority tabled by People Respondents or their counsel to verify that the Dubai Civil Court docket had special jurisdiction about the disputes and claims produced In this particular arbitration which ousted the jurisdiction of this Tribunal. There was in the extremely the very least concurrent jurisdiction On this Tribunal to continue and there was no lawful basis presented to usurp or oust that jurisdiction. In gentle of the value of this problem, it is suitable to explicitly established out With this Ultimate Award the detailed critique and Evaluation from the provisions with the Code of Civil Treatment of the United Arab Emirates on this situation which have been reviewed in Procedural Order #two.

Asia has a growing industry of technological innovators and it is house to quite a few of the globe’s leading monetary expert services. These awards recognize the achievements and triumphs in the Asian fintech Local community. The categories include a wide variety of corporations within just fintech.

“These awards are constructive recognition of our cellular banking application as being the top in the center East and continuous advancement in the cell banking application will continue to be a important focus Later on.

g. Inspite of acquiring The chance with the deserves to generate an appropriate movement supported by proof of actual prejudice and by correct lawful argument and authorities, Respondents one and three chose never to just take that chance to pursue this motion and in its place selected not to seem at the merits Listening to.

Chaouki Daher, GM-head of personal Banking at Dukhan Lender, mentioned: “We are proud to obtain this prestigious award Yet again. These successive honours communicate volumes about our workforce's unwavering pursuit of excellence along with the deep self confidence our consumers have in us.

c. The date of thirty May well 2013 from the Procedural Timetable for the supply from the get was expressly stated to become "Tentative" only and was neither a set date, nor a day to which jurisdictional value and consequence was attached;

copyright Team stands as the primary monetary establishment in the Middle East and Africa, recognised as Probably the most precious banking models while in the location.

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The prestigious recognition acknowledges the firm’s excellence in offering ground breaking, personalized economic methods through the area.

Regardless of the prospective upheaval, Saxena thinks the latest improvements could rapidly up banking companies’ compliance packages, wherever generative AI’s speed and precision could include reputational exposure to troubles for example cash laundering, and so on.

The outline by counsel for Respondents 1 and three of this type of law from the UAE in The solution of Gulf Jet, paragraph 3.four, can be inconsistent. Whilst it is asserted the Lessee is "entitled to discontinue" a deal, Furthermore, it stated that a Dubai court has the ideal to endorse this type of discontinuance, or not. The deal may possibly stay set up, as well as the stress could possibly be decreased. Even so it may not be minimized in the least. The failure of Gulf Jet and Al Meeza to even determine and prove any alleged casts sizeable doubt on both of those its existence and its alleged application on the points of the case. 134. Second, plus more importantly, the legal guidelines with the Emirate of Dubai or the United Arab Emirates just tend not to utilize to this dispute. The Leases are ruled because of the regulations on the Condition of Kansas in The usa of The usa. The arbitration, seated in The big apple, is ruled because of the procedural regulation with the Condition of Ny. No argument, let alone a persuasive argument supported with authority, was offered regarding how and why the legislation on the Dubai or the United Arab Emirates really should implement to or govern the perseverance of this issue and to displace the applying with the regulation from the Point out of Kansas as expressly agreed by the events. 135. 3rd, as submitted from the Claimant, the Leases as well as (Ensures expressly deliver that pressure majeure isn't any justification for non-general performance. Paragraph 15 of every Lease provides in part as follows: "...Lessee acknowledges and agrees that its obligation to pay any sums due to OWNER hereunder shall not be discharged, diminished or or else affected by any power majeure, and shall not be deemed paid Unless of course and till these sums are actually and thoroughly received by OWNER in America pounds in the United States." (emphasis extra)

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