Institutional Development of the Dubai International Financial Centre and the Qatar Financial Centre: The Insolvency Law Framework

This chapter seeks to appraise, through a comparative perspective, the unique institutionaland regulatory model adopted and practised by the Dubai International Financial Centre(DIFC) and the Qatar Financial Centre (QFC), with respect to insolvency law. The keyinstitutional innovation of these two financial centres is their transplanting and operation oflaws based on common law and international best practices, independent of their nationallegal systems (continental civil law systems, heavily influenced by Islamic tradition).