close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Experts: UAE’s ‘urgent’ need for more effective insolvency regime

New white paper identifies current flaws and recommends way forward.

0

June 23, 2010 1:42 by



There is a growing urgency for a more effective insolvency regime in the UAE, according to a new white paper.

The Institute of Chartered Accountants in England and Wales (ICAEW), a leading organization in the accountancy and finance profession, has collaborated with the Dubai International Arbitration Centre to create the new paper, which outlines a series of strategic recommendations for improving the regime.

The paper is entitled ‘Inspiring Business Confidence in the UAE Through Effective Insolvency Systems,’ and identifies the draw backs to current laws and “highlights how business confidence depends on clear and transparent rules for dealing with businesses in trouble,” says AMEinfo.com.

Amanda Line, Regional Director, ICAEW Middle East, said: “It is widely acknowledged that the current insolvency regime needs improving to offer better support and guidance to businesses experiencing problems. The economic crisis has made this an issue requiring urgent attention for the UAE to remain an attractive place to both businesses and investors.

“If dealt with early, a business in trouble can often be helped or restructured, safeguarding creditors’ interests and employees’ jobs. However, more needs to be done to increase the level of knowledge and understanding about insolvency, and especially restructuring, in the UAE.”

The papers’ recommendations include forming a body of licensed Insolvency Practitioners and reforming the law to protect creditors’ rights and reduce the risk of business for investors.



0

Tags: , , , , , , , ,

Leave a Comment