For the players in medicine and medical technology, Arab Health has continuously developed into an important hub for contacts and contracts in recent years - above all in the Arab world, as well as in South Asia and Africa (MENASA region). The Arab Health is the largest gathering of healthcare and trade professionals in the MENA region. The fair in Dubai has been showing significant growth for years and is the world's second largest. The exhibition in 2018 welcomed over 4200 exhibiting companies and over 130,000 participants from 150+ countries.
During the course of the event we had many fruitful discussions with company representatives from the healthcare sector out of the whole MENA as well as we established a lot of interesting new contacts. Our team of consultants, especially our Chief Medical Officer Dr. Braunschweig, used the opportunity to explain potential clients our wide range of services in detail as well as we got ourselves a good overview of the all the new innovative ideas in the healthcare sector. Besides that, we took the opportunity to say hello to former clients and see how their business growths in the last years. In total Arab Health was again a very successful event for GERMELA and we are looking forward to come back next year.
The United Arab Emirates (UAE) have created a new legal regime regarding the pledge of movables as security for a debt which entered into force in March 2017 (i.e. the law no. 20 of 2016). As opposed to the situation in most other middle eastern jurisdictions, the notion of disembodied pledges as well as pledges over movable and intangible assets is not entirely new to the Emirates' jurisdiction. Pledge agreements with such scope had been introduced to the UAE's law in 1993 by the Commercial Transactions Law (i.e. the law no. 18 of 1993) already. Still, the new law makes commercial pledges easier to handle by broadening the scope of admissible assets significantly and simplifying the procedures for pledges.
The scope of the new law covers any movable asset, tangible or intangible, existing or in the future.
Furthermore, the most important procedural step for creating a pledge over and asset will be registration of the pledge with the Security Registry. Once this registry is established – presumably on an electronic basis – no execution of an agreement before a notary public will be necessary anymore, as it was under the Commercial Transactions Law.