Welcome to the DIFC Courts website. To optimise the experience, this website only uses strictly necessary cookies.
What cookies do we use?
Cookies are text files containing small amounts of information. They are downloaded to your computer or device when you visit a website. They don’t tell us who you are but they do enable us to recognise your device and where you have made various preferences or actions they enable us to remember them.
Cookies do lots of different jobs, like letting you navigate between web pages efficiently, remembering your preferences, and generally improving your experience of our websites. The cookies can help to ensure that adverts you see online are more relevant to you and your interests.
DIFC Courts websites are designed to function optimally with cookies enabled. You can, however, disable cookies via your website browser settings. This may mean, however, that you may no longer have access to some of our website features. Please note that even with all cookies disabled, a tiny amount of information will continue to be retrieved from your web browser. This information is necessary for the basic functioning of our website.
This Practice Direction will come into effect on the date of signature. It may be cited as Practice Direction 4 of 2017 – Interest on Judgments and may be abbreviated to PD 4/2017. It replaces Practice Direction 1 of 2009 – Interest on Judgments (Clarification) and Practice Direction 1 of 2009 – Interest on Judgments.
Interest on Judgments
This Practice Direction should be read in conjunction with DIFC Law No. 10 of 2004; the Rules of the DIFC Courts and in particular Rule 45.26 (Interest on Judgment Debts); PD 1/2009 (Clarification) and PD 1/2009.
Any judgment of the DIFC Courts issued on or prior to the date of this Practice Direction shall carry interest, from the date the judgment is entered, at the rate of 1% over the Emirates Interbank Offer Rate (“EIBOR”) or such other rate as the judge may prescribe in the judgment. Reference to EIBOR is to the EIBOR three months’ reference rate as at the date of judgment.
Any judgment of the DIFC Courts issued after the date of this Practice Direction shall carry simple interest, from the date the judgment is entered, at the rate of 9% or such other rate as the judge may prescribe.