The New Bankruptcy Laws Are A Sign Of The UAE Catching Up According To Reddit Users

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Yesterday, Sheikh Mohammed, approved new laws allowing for businesses to file for bankruptcy in the UAE. There was no facility in place up until now, which prevented corporate restructuring of bad debt and was said to be something that held back the small to medium business growth in the UAE. 

The law is said to be implementable in the next few months. Changes like this indicated that more and more is happening behind the scenes to make Dubai a great place to do business in. 

It was one of many new laws ratified yesterday 

Reddit user points out how far the UAE has come in the past 30 years 

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Richard Fitzgerald

Rich is a media fiend who hasn't been seen without an iPhone in hand since 2007. With a passion for all things health and fitness, what he lacks in hair he more than makes up for in creativity. As the founder of Lovin Dubai, he's our fearless leader.