Friday, Sep 09, 2016
The bankruptcy law passed by the UAE Cabinet last week is undoubtedly a new business enabler and source of confidence to entrepreneurs and the financial services industry in the country.
The new legislation has come at a time when the nation is laying greater emphasis on economic diversification and private participation in the economy.
Private entrepreneurs now play a crucial role in economic growth and job creation in the UAE with a significant majority of business belonging to the small and medium enterprises (SME) segment.
While the SME sector has been a key component of economic diversification efforts of the UAE, the sector faced huge vulnerabilities in terms of limited access to finance …
Read the full article at: http://www.zawya.com/mena/en/story/UAE_bankruptcy_law_is_a_new_business_enabler-GN_09092016_100916/