Transpanting the Unidroit Contract Principles into the Qatar Financial Center: a fresh paradigm for wholesale legal transplants?

The Qatar Financial Center (QFC) decided to adopt a set of Contract Regulations that are effectively the equivalent of its contracts statute. The QFC does not have a civil code. The Regulations are largely predicated on the Unidroit Principles of International Commercial Contracts (PICC). Even so, its drafters introduced, in addition, elements peculiar to the common law of contracts that are not found in the PICC, and the QFC Court, which is largely composed of a common law-inclined bench, has made it clear in many of its cases that common law judgments and English statutes can and will serve as authority in the interpretation of the Contract Regulations. The situation is further complicated by the fact that the Regulations are meant to apply in a broader legal system (that of Qatar), which recognizes several elements of Islamic law in the context of public policy—although generally Islamic law plays a very minor role, if at all, in the ordinary Qatari law of contracts. Despite the complexity underlying the Contract Regulations, its relevant success—to date—is firmly premised on the fact that the process of legal transplantation was not undertaken in a vacuum, but, rather, it is a ‘living instrument’ that is acceptable and, above all, useful to its stakeholders. Much like other contract law-related legal transplants taking root in other special economic zones, so too the QFC Contract Regulations represent an excellent paradigm as to how wholesale legal transplants can be undertaken.

PLACE OF BUKHARA IN DOMESTIC AND FOREIGN TRADE DURING THE GOVERNMENT OF AMIR TEMUR AND TEMURID

The article provides a comparative analysis of historical literature data on the participation of Bukhara in domestic and foreign trade during the reign of Amir Temur Temurids, trade routes from Bukhara to neighboring countries, attempts by rulers such as AmirTemur and Ulugbek to turn Bukhara into a trade and financial center of the country. Examples of zandanich fabric and its distribution in Eastern Europe during the reign of Amir Temur and the Temurids, as well as handicrafts made in Bukhara and their demand in the domestic and foreign markets

Study of the structure of the financial centers of Zurich and Geneva and their development trends

Europe has long been a major trading and financial center. The formation of these areas as financial centers is primarily based on the historical geographical location of the cities in which they are located. Due to the development of the financial sector, the main financial centers currently located in Europe are London, Zurich, Luxembourg, Geneva, Frankfurt and Tallinn. This article analyzes the history of development of Zurich and Geneva financial centers and the general features of their current activities, development trends. Key words: Zurich, Geneva, financial center, European Union

“New York City Closed to all Traffic”

This chapter examines the transportation shutdowns that quickly ricocheted out beyond the New York area following the attacks of 9/11. Each subsequent event amplified the crisis unfolding at the World Trade Center, intensifying the fear and panic and increasing the numbers of people directly caught up in the catastrophe. With the avalanche of toxic dust and debris came terror. Bridges and tunnels were closed, streets were clogged with stalled traffic, and no trains were moving. Suddenly, hundreds of thousands of visitors, residents, and commuters found themselves trapped in Lower Manhattan, struggling to grasp what was happening and trying to answer one question: How could they get off the island? Passengers then arrived in waves at the World Financial Center ferry terminal.

The Perspectives Of The Establishment Of International Financial Centers In Uzbekistan And The Implementation Of English Law

In this article analyzed main notions of international financial center and its brief history, and the views of several scientists from different countries about international financial centers and its types. Moreover, it is also researched the perspectives of the establishment of international financial centers as one type of free economic zones in Uzbekistan. In addition, in this article researched the main features of common law, its implementation as a special legal regime on regulating international financial centers in Uzbekistan. As result of analyzes, it is illustrates legal, financial and other potential of establishment common law based international financial center as a type of free economic zone in Uzbekistan.

Langue de bois, or, discourse in defense of an offshore financial center

This article brings together trends in Critical Discourse Analysis dating from the 1980s – which examine how language use and ideologies (re)produce social inequality – with current research in the social sciences on neoliberalism and other emerging politico-economic formations. The article addresses such a problematic with an empirical case: the language strategies, dubbed langue de bois, that people affiliated with Luxembourg’s offshore financial center employ to justify their practices. The contribution herein surveys the political rationality of the country’s financial center by analyzing the langue de bois that its representatives and boosters use. These language strategies, furthermore, enable Luxembourg’s finance elites to socialize the domestic public’s understanding of their activities.

The Perspectives of the Establishment of International Financial Centers in Uzbekistan and the Implementation of English Law

In this article analyzed main notions of international financial center and its brief history, and the views of several scientists from different countries about international financial centers and its types. Moreover, it is also researched the perspectives of the establishment of international financial centers as one type of free economic zones in Uzbekistan. In addition, in this article researched the main features of common law, its implementation as a special legal regime on regulating international financial centers in Uzbekistan. As result of analyzes, it is illustrates legal, financial and other potential of establishment common law based international financial center as a type of free economic zone in Uzbekistan.

Financial centers of new industrial countries in the world financial architecture

The views of scholars concerning the definition of «international financial center», which makes it possible to formulate the definition of international financial center essence are summarized in this paper. The factors influencing the formation of international financial center incluing: stable financial system, stable currency, exchange rate stability, political and social stability in the country, favorable geographical location, developed financial infrastructure, open economy for free movement of capital, etc. are identified. The role of international financial centers in increasing their global competitiveness, achieving higher levels of economic growth, prosperity and social progress is substantiated. The classification of international financial centers is investigated. The place of the Hong Kong Financial Center in the financial architecture of the world is determined. The main parameters of the current state of the Hong Kong Financial Center: the USD / HKD exchange rate, the effective exchange rate index weighted by trade, the Hang Seng index, market capitalization, etc. are diagnosed. SWOT-analysis of the Hong Kong Financia Cente is carried out in order to identify its strengths, weaknesses, opportunities and threats. Based on the results of the problem of its functioning, a set of measures to improve competitiveness is also proposed. Hong Kong has favorable macroeconomic and institutional environment, qualified personnel, and is the fifth most competitive international financial center in the world. However, there is a low degree of international element in the domestic stock market, there is also risk of losing the status of «international financial center», other regional economies that have greater access to international investment opportunities in the stock market, such as Singapore, may be a threat. The financial center should focus on overcoming the effects of the coronavirus, promote the share of foreign investment in the economy, take a set of measures to overcome the country's recession, review legal, regulatory and tax requirements to promote development, improve quality of life and attractiveness, and become Asia's leading currency hub.