Associate Professor at Zayed University, Associate Professor at Canadian International College, Managing Editor in the International Journal of Doctrine Judiciary and Legislation
Educational Administration: Theory and Practice, 2023
Metaverses introduce new legal and regulatory issues that deserve our attention. As a virtual env... more Metaverses introduce new legal and regulatory issues that deserve our attention. As a virtual environment that combines blockchain, artificial intelligence, the Internet of Things, and cryptocurrency, it has great ability to change society. However, this potential is inherently complex and risky, requiring extensive knowledge and adaptation to existing laws and regulations. This article discusses the potential of the Metaverse to revolutionize business transactions. It highlights the legal challenges of protecting customers in the virtual world, including the use of NFTs, blockchain technology and smart contracts. Examines the regulatory environment under UAE law, focusing on contracts between Metaverse users. This article highlights that while these theoretical issues are not new, the scope of virtual universes and their potential social impacts can sometimes alter these principles in unpredictable ways. Technical experts, practitioners and regulators must remain sensitive to these changes to develop the right mix of user controls, industry practices and regulatory oversight. In this article, we examine the implications and challenges of protecting consumer rights in virtual universes under current regulations and future strategies in the UAE. The article demonstrates that collaboration between UNCITRAL, national governments and private sector stakeholders is critical to strengthening consumer rights in virtual worlds.
In Egypt, the Central Bank of Egypt is working to launch a new phase of financial technology, as ... more In Egypt, the Central Bank of Egypt is working to launch a new phase of financial technology, as one of the pillars of promotion of economic reform, and an effective and supportive mechanism for integrating the informal economy for individuals and institutions within the structure of the official economy of the state, and a way to Reality to raise and improve the standard of living and reduce poverty rates by containing certain segments of society from the marginalized, low-income and owners of small, medium and micro enterprises. The methodologies used explain the current state of financial inclusion and financial technology in Egypt, as well as the development of a law regulating and developing the use of financial technologies in non-banking financial activities in order to develop a mechanism for integrating the informal economy. The findings showed that enhancing the efficiency of the financial system and the effectiveness of monetary policy, are reflected in terms of financial...
Rapid changes have tested and will continue to test the limits of liability in tort law. To date,... more Rapid changes have tested and will continue to test the limits of liability in tort law. To date, much pressure has been applied to the principles governing the liability of a holding company since the doctrine of veil piercing has fallen out of favor with many courts. This article studies the legal basis of the holding’s liability for its subsidiary’s debts in the light of two contradicting principles: The ‘legal independence’ and the ‘economic dependence’ of the subsidiary. The study concludes that it makes no sense to make the holding company carry out full custody of its subsidiaries, but meanwhile, parties injured by subsidiaries can make a claim on the holding if a direct duty of care has been breached. Therefore, much wisdom is needed to estimate the civil responsibility of the holding company. Thus, this article analyses the court decisions, laws, and policy considerations governing a holding company’s liability in the UAE and Egypt.
Responding to the rapid growth of microfinance institutions around the world, this paper attempts... more Responding to the rapid growth of microfinance institutions around the world, this paper attempts to explore the main aspects of the current debate on the regulation and supervision of microfinance in Egypt. This paper mainly argues that appropriate regulation and supervision of microfinance is critically important as there is broad awareness that poor people have different financial service needs. In order to reach its full potential and further grow as a credible development tool in Egypt, the microfinance industry must eventually be able to enter the area of licensed, supervised financial intermediation to be able to capture and minimize any financial crisis or crimes that may possibly occur. Having said this, microfinance regulation and supervision is complex and filled with challenges. Regulators will also have to weigh the potential costs of regulation and supervision to avoid consequences of regulation, particularly in regard to innovation and healthy competition meanwhile, p...
Educational Administration: Theory and Practice, 2023
Metaverses introduce new legal and regulatory issues that deserve our attention. As a virtual env... more Metaverses introduce new legal and regulatory issues that deserve our attention. As a virtual environment that combines blockchain, artificial intelligence, the Internet of Things, and cryptocurrency, it has great ability to change society. However, this potential is inherently complex and risky, requiring extensive knowledge and adaptation to existing laws and regulations. This article discusses the potential of the Metaverse to revolutionize business transactions. It highlights the legal challenges of protecting customers in the virtual world, including the use of NFTs, blockchain technology and smart contracts. Examines the regulatory environment under UAE law, focusing on contracts between Metaverse users. This article highlights that while these theoretical issues are not new, the scope of virtual universes and their potential social impacts can sometimes alter these principles in unpredictable ways. Technical experts, practitioners and regulators must remain sensitive to these changes to develop the right mix of user controls, industry practices and regulatory oversight. In this article, we examine the implications and challenges of protecting consumer rights in virtual universes under current regulations and future strategies in the UAE. The article demonstrates that collaboration between UNCITRAL, national governments and private sector stakeholders is critical to strengthening consumer rights in virtual worlds.
In Egypt, the Central Bank of Egypt is working to launch a new phase of financial technology, as ... more In Egypt, the Central Bank of Egypt is working to launch a new phase of financial technology, as one of the pillars of promotion of economic reform, and an effective and supportive mechanism for integrating the informal economy for individuals and institutions within the structure of the official economy of the state, and a way to Reality to raise and improve the standard of living and reduce poverty rates by containing certain segments of society from the marginalized, low-income and owners of small, medium and micro enterprises. The methodologies used explain the current state of financial inclusion and financial technology in Egypt, as well as the development of a law regulating and developing the use of financial technologies in non-banking financial activities in order to develop a mechanism for integrating the informal economy. The findings showed that enhancing the efficiency of the financial system and the effectiveness of monetary policy, are reflected in terms of financial...
Rapid changes have tested and will continue to test the limits of liability in tort law. To date,... more Rapid changes have tested and will continue to test the limits of liability in tort law. To date, much pressure has been applied to the principles governing the liability of a holding company since the doctrine of veil piercing has fallen out of favor with many courts. This article studies the legal basis of the holding’s liability for its subsidiary’s debts in the light of two contradicting principles: The ‘legal independence’ and the ‘economic dependence’ of the subsidiary. The study concludes that it makes no sense to make the holding company carry out full custody of its subsidiaries, but meanwhile, parties injured by subsidiaries can make a claim on the holding if a direct duty of care has been breached. Therefore, much wisdom is needed to estimate the civil responsibility of the holding company. Thus, this article analyses the court decisions, laws, and policy considerations governing a holding company’s liability in the UAE and Egypt.
Responding to the rapid growth of microfinance institutions around the world, this paper attempts... more Responding to the rapid growth of microfinance institutions around the world, this paper attempts to explore the main aspects of the current debate on the regulation and supervision of microfinance in Egypt. This paper mainly argues that appropriate regulation and supervision of microfinance is critically important as there is broad awareness that poor people have different financial service needs. In order to reach its full potential and further grow as a credible development tool in Egypt, the microfinance industry must eventually be able to enter the area of licensed, supervised financial intermediation to be able to capture and minimize any financial crisis or crimes that may possibly occur. Having said this, microfinance regulation and supervision is complex and filled with challenges. Regulators will also have to weigh the potential costs of regulation and supervision to avoid consequences of regulation, particularly in regard to innovation and healthy competition meanwhile, p...
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Papers by Fady Tawakol