Anti-Money Laundering and Countering the Financing of Terrorism Law in the UAE

Contributing to global anti-money laundering efforts and combating financing of terrorism (AML/CFT), the United Arab Emirates (UAE) strives to fully implement the standards set by the International Financial Action Task Force (FATF). The UAE government passed a new regulation on Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT), through […]

Disbursement & Reimbursement

Expense recovery is a common operation in business transactions. A party may incur expenses and subsequently recover such expenses from another party. The recovery of expenses depends on whether the recovery is a “disbursement” or “reimbursement”. To determine whether a recovery is a disbursement or reimbursement, it is to establish whether […]