Dubai has introduced a new digital system to speed up legal action for all court judgments, excluding those for criminal cases and rental disputes.
Tanfeeth+ will reduce the number of steps needed to enforce a verdict that "once took months to mere minutes", Prof Dr Saif Ghanem Al Suwaidi, director general of Dubai Courts said.
"Securing a verdict is just one step towards claiming what is rightfully yours. It's the enforcement of the verdict that will help you reclaim what's yours," he added.
Shared databases
The system will link various "government and semi-government departments within Dubai", with plans under way to expand the initiative to include federal entities.
It will allow judges to access data from various government departments in the emirate to inquire about a person's assets and seize them if necessary, without having to track each entity individually. Data on bank accounts and properties will be available in the system.
"It eliminates the need to contact various entities like the Dubai Land Department or the Roads and Transport Authority to locate an individual's assets," said Judge Khalid Al Mansouri, head of Dubai Execution Court. "The platform handles everything, making it possible to identify and seize assets within minutes."
The platform was developed after "extensive fieldwork, customer feedback and employee feedback", Mr Al Mansouri said. That process "identified the gaps that needed addressing".
Tanfeeth+ also allows judges to issue travel bans and arrest warrants, with the orders "immediately reflected on the Ministry of Interior’s system".
Helping the victims
“Court proceedings are very stressful, so anything to speed up the process and allow money to be received as soon as possible is welcomed," said Byron James, a partner at Expatriate Law.
Mr James said the new Tanfeeth+ system could significantly reduce the burden on claimants by ensuring that verdicts are enforced efficiently.
“The integration of various government databases into a single platform simplifies the asset recovery process, eliminating delays caused by bureaucratic procedures. This system not only benefits those seeking justice but also enhances the overall efficiency of the legal process in Dubai.”
Receiving owed money
The disbursement of funds has also been streamlined by the establishment of a virtual bank system that links the IBAN with each case. The process allows the transfer of funds to the claimant's bank account "immediately and accurately", without court intervention.
"Previously, the funds were first sent to the court's general bank account and then transferred after several checks were carried out,” Mr Al Mansouri explained.
Tanfeeth+ also includes a notification service for asset sales. When a judge determines a property must be sold in a verdict, the system will issue a sale notification automatically, and proceeds will be deposited into the claimant's virtual account. They will later be transferred to their personal bank account.
The system will also automatically cancel procedures, including travel bans and arrest orders, once a verdict has been executed and dues have been paid. This ensures all restrictions are lifted without the need to file a separate request.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Our Time Has Come
Alyssa Ayres, Oxford University Press
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Trippier bio
Date of birth September 19, 1990
Place of birth Bury, United Kingdom
Age 26
Height 1.74 metres
Nationality England
Position Right-back
Foot Right
If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
MATCH INFO
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
Brief scores:
Day 1
Toss: India, chose to bat
India (1st innings): 215-2 (89 ov)
Agarwal 76, Pujara 68 not out; Cummins 2-40
New Zealand 21 British & Irish Lions 24
New Zealand
Penalties: Barrett (7)
British & Irish Lions
Tries: Faletau, Murray
Penalties: Farrell (4)
Conversions: Farrell
