Dubai International Financial Centre Announces Proposed Amendments to Select Laws

Dubai International Financial Centre Announces Proposed Amendments to Select Laws

Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, has proposed the enactment of amendments to the Employment Law, Data Protection Law and Insolvency Regulations to enhance the regulatory framework in DIFC, keeping it in line with international best practice.

Amendments to the Employment Law & Regulations

DIFC intends to make amendments to the existing Employment Law No. 2 of 2019 and issue new Employment Regulations which will provide further clarity in relation to the Qualifying Scheme regime and bring it in line with DFSA's Employee Money Purchase Scheme so that only a single layer of regulation is applied to these schemes. The Amendments also address other areas of uncertainty in the law by clarifying the application of limitations periods to claims made under the Employment Law, the accrual of vacation leave, the duration of the probationary period for short term fixed-term contracts, and certain defined terms used in the law.

Amendments are also proposed to the basic workplace health and safety requirements under the Employment Law, to account for working from home arrangements which have become more common.

Consultation Paper No. 2 of 2021 -