UAE's new digital law to cover all forms of payments, transactions

UAE digital law

The United Arab Emirates (UAE) has introduced a comprehensive digital law aimed at regulating all forms of online payments and transactions, providing enhanced protection for consumers. David Yates, partner and head of digital and data at Al Tamimi & Company, explained that the new law expands beyond traditional e-commerce to encompass various digital means of trade, including apps and blockchain technology. Federal Decree No. 14 of 2023, implemented last year, replaces previous regulations and extends coverage to transactions conducted within and outside the UAE. While exceptions exist for government procurement and financial services, the law prioritizes consumer safeguards, requiring platforms to facilitate feedback mechanisms and address issues like fraud and product discrepancies. Yates emphasized the law's forward-looking approach, encompassing both current and future technological advancements. Executive Regulations, expected later, will outline penalties and focus on consumer rights, including refunds and dispute resolution.