ADGMpublishes Healthcare Regulations
• The newly enacted regulations adopt certain Abu Dhabi onshore healthcare sector legislation to provide an enhanced regulatory regime for healthcare operators in ADGM.
Abu Dhabi, UAE, 11 January 2023: Abu Dhabi Global Market’s (‘ADGM’), the international financial centre ofAbu Dhabi,has issuedthe ADGM Healthcare Regulations 2022 (‘Healthcare Regulations’) which adopt the Abu Dhabi onshore healthcare legislation (‘onshore legislation’)including the regulations, rules, standards, guidance and circulars for healthcare operators and professionals issued by the Department of Health Abu Dhabi (‘DoH’) into ADGM’s legislative framework.
As a result of this adoption, ADGM’s Registration Authorityretains the right to issue commercial licences to healthcare facilitiesoperating within the ADGM’sjurisdiction. On the other hand, the DoHwill be responsible for undertaking all the regulatory obligations including classification, supervision, monitoring and enforcement of obligations relating to these healthcare facilities and professionals.
The new Healthcare Regulations aimtoensure that all entities established in ADGM and licensed to practice any business or activity in the areas of healthcare, medical treatment, prevention of disease, convalescence, medical products, health insurance, health education and information, outpatient treatment, health and pharmaceutical research conducted by companies, hospitals, clinics, treatment centres, research centres, pharmacies, laboratories, whether they are public or private, and other persons operating in the public or private healthcare sector”abide by the onshore requirements imposed by the DoH.
Commenting on the new Healthcare Regulations, Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, said,“ADGM has always been keen on strengthening the mutual strategic cooperation and institutional integration between the governmental bodies in Abu Dhabi to achieve the Abu Dhabi Economic Vision 2030. In doing so, ADGM has signed an Agreement of Cooperation and Delegation with the Department of Health in Abu Dhabi to benefit from their experience in regulating and monitoring health, medical and pharmaceutical entities operating within ADGM’s jurisdiction”.
“Adopting the Abu Dhabi onshore healthcare legislation in ADGM provides healthcare, medical and pharmaceutical investors with comfort and assurance that ADGM and Abu Dhabi, as a whole, are aligned in terms of regulating the healthcare sector”he further added.
The enacted versionsof the regulationsissued by ADGM are publicly available and can be viewed here (https://en.adgm.thomsonreuters.com/rulebook/healthcare-regulations-2022)
About Abu Dhabi Global Market (ADGM)
Abu Dhabi Global Market (ADGM) is the international financial centre (IFC) of the capital city of the United Arab Emirates, which opened for business on 21st October 2015. ADGM augments Abu Dhabi’s position as a leading financial centre and a business hub serving as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
Operating within an international regulatory framework based on direct application of The English Common Law, ADGM governs the entire Al Maryah Island which is designated as the financial free zone of Abu Dhabi.
ADGM is ranked as one of the most preferred top IFCs in the Middle East and Africa region and named MENA’s largest Fintech hub. Its progressive and inclusive business ecosystem gravitates toward global financial and non-financial institutions while leveraging synergies between ADGM and multiple jurisdictions positioned as one of the world’s most advanced, diverse and progressively governed financial hubs.
For more details on ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adglobalmarket and LinkedIn: @Abu Dhabi Global Market (ADGM)