DUBAI, -- The UAE bankruptcy law is a boon for business, a UAE banking expert said today during a conference organised by the Emirates Institute for Banking and Financial Studies, EIBFS, in Dubai.

The new commercial companies law and the insolvency law are key steps forward to present the UAE as a favourite destination for investments and to ensure a business-friendly environment in the country," said Jamal Al Jassmi, General Manager of EIBFS, during the conference The new UAE Bankruptcy Law, which came into force in December last year, provides more buoyancy and resilience to the investment climate and financial transactions and represents a qualitative leap conducive to enhancing competitiveness and drawing more investments to the country, he added. Hatem/

Source: Emirates News Agency