What is bankruptcy in UAE?

The new bankruptcy law in UAE will help businesses and organisations to overcome the credit challenges arising from emergency situations. This is due to a completely different way of analysing by even taking into consideration the surrounding and prevailing situation of the concerned person or entity. You can read about Insolvency And Bankruptcy Code (IBC) – IBC Amendment Bill 2021 [UPSC Notes GS III] in the given link.

Further readings:

1. Non Performing Assets (NPA) – Facts for UPSC GS-III
2. Bad Banks – Idea Proposed by Indian Banking Association (IBA) Due to COVID-19