The amendments will go into force from next year.
The UAE Central Bank has announced amendments to the Commercial Transactions Law. This will go into force from next year, in line with the government’s key plans and strategic initiatives to build and support a sustainable national economy based on best international practices.
Here is all you need to know about the new law:
When will it come into force?
January 2, 2022
What are the key changes?
What will penalties look like?
How will the amendments benefit the UAE?
Source: Khaleej Times