Essam al tamimi dubai trade

The UAE’s latest law covers all forms of online payment and digital transactions within and outside the country and also provides more protections to the consumers, said David Yates, partner and head of digital and data, Al Tamimi & Company.

“The new law is intended to regulate trade by any digital means available.

Essam al tamimi dubai trade

E-commerce is traditionally based on websites. But digital trade has bloomed into multiple different ways such as buying and selling of goods and services whether on apps or blockchain which don’t fit the traditional e-commerce technology.

This law abstracts the fundamental principles of trade and provides a definition of technological means which was not there in e-commerce regulations. It covers any digital means by which we can trade,” Yates told Khaleej Times in an interview on Thursday.

The UAE rolled out Federal Decree No.

14 of 2023 late last year, which covers all the existing digital payment