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Mazen Boustany

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Mazen Boustany has over 22 years’ experience in banking and finance law in the Middle East and has practiced in the UAE for more than nine years. He is a certified Professional Director from the Mudara-Institute of Directors and is a member of the UK Securities Industry Management Association (SIMA). He has also been awarded the CISI Level 3 Certificate in Derivatives, Securities and Financial Regulations, and Financial Regulations, and the Islamic Finance Qualifications (IFQ) and is a certified Basel III professional (2011) and DIAC qualified arbitrator as well as a registered practitioner before the DIFC courts. In 2012, Mazen was appointed by the International Finance Corporation (IFC) as a short term consultant to advise on UAE legislative matters in relation to security laws.

In addition to the comprehensive economic support and stimulus program launched by the UAE Central Bank to curb the financial impact of the COVID-19 pandemic, the UAE has introduced radical amendments to the UAE Bankruptcy Law, offering distressed debtors with some level of leniency during these times of economic uncertainty and market disruption caused by circumstances outside of their control.

Key changes include: adding new provisions to the law related to “emergencies” such as pandemics and natural and environmental disasters; new debtor’s rights  to delay filing for bankruptcy and to resort to out-of-court settlement agreement with creditors; and mechanisms to obtain new financing under certain rules and conditions.

As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world, governments are actively working with global and local health authorities to implement nationwide measures to help curb transmission and mitigate virus-related risks as well as offer relief for businesses and individuals in these challenging times. In response, businesses…

DOWNLOAD PUBLICATION For over three decades, Baker McKenzie Habib Al Mulla has helped businesses optimize opportunities and mitigate risks in the United Arab Emirates (UAE) and wider Middle East. The 2019 edition of the Doing Business in the UAE is your simple but comprehensive guide to understanding the current investment…

Greater scrutiny into financial crimes The newly enacted Federal Law No. 20 of 2018 on Anti-Money Laundering Law (AML Law) contains important improvements over the prior legal framework to combat financial crimes. For the first time, digital currencies are brought within the ambit of the law, targeting online money laundering…