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Saudi Arabia: Approves Major Regulatory Amendments for Car Rental Sector News developments

Saudi Arabia: Approves Major Regulatory Amendments for Car Rental Sector

  • 06/03/202506/03/2025
  • by Hannah Gutang

Saudi Arabia has Approved Key Amendments to Car Rental and Rental Broker Regulations.

A key change clarifies the definition of “reservation,” aligning it with the digital booking process.

Financial requirements now include a SR100,000 guarantee for rental companies, with exemptions for entrepreneurial establishments to support small businesses.

The removal of restrictions on renting cars with a driver and the elimination of hourly rentals offer greater flexibility.

The minimum rental duration with a driver is now set at six hours.

New penalties enforce compliance, requiring rental companies to provide proof of vehicle receipt when contracts remain open due to financial obligations, with a SR1,000 penalty for non-compliance.

Contracts must be issued through the designated electronic system, with a SR4,000 fine for violations.

Reporting stolen vehicles now terminates the rental contract, with a SR3,000 fine for non-compliance.

Operating with an expired licence incurs a SAR5,000 fine, and requiring tenants to sign additional documents beyond the official contract results in a SR3,000 fine.

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Oman News developments

Oman: New Postal Policy

  • 06/03/202506/03/2025
  • by Hannah Gutang

Oman Observer, 2 March 2025: The Ministry of Transport, Communications and Information Technology has introduced a new policy and programme to regulate and modernise Oman’s growing postal sector.

Spanning from 2025 to 2029, the Postal Sector Policy and Executive Programme aims to enhance service quality and support related industries such as e-commerce, transport, and logistics.

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Kuwait: Eases Residency Transfers for Expats Between Public and Private Sectors News developments

Kuwait: Eases Residency Transfers for Expats Between Public and Private Sectors

  • 06/03/202506/03/2025
  • by Hannah Gutang

Arab Times, 2 March 2025: The Interior Ministry has announced the removal of previous conditions that restricted the transfer of residency between government and private sector employment.

This decision eliminates the need for expatriates to align their new job roles with their educational qualifications or the nature of their previous work when switching sectors.

Expatriates can now transfer their residency from government sector work to private sector work, and vice versa, without the previously mandated requirements.

The Expatriates’ Residency Law and its executive regulations do not require the verification of professions for individuals seeking to transfer between sectors, nor is there any legal basis for rejecting such requests.

Under the new rules, expatriates are no longer required to ensure that their educational qualifications match their new job roles or adhere to the nature of their previous government sector work.

This change simplifies the process, allowing expatriates to transition to the private sector with ease, following standard procedures and without the bureaucratic hurdles that previously complicated such transfers.

Previously, the transfer of residency was contingent on the new profession being compatible with the expatriate’s educational background and the nature of their prior government sector work.

This restriction limited opportunities for expatriates to explore roles in the private sector and often involved cumbersome administrative processes.

The new decision abolishes these constraints entirely.

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Bahrain: Legal Consultancy Offices Accredited News developments

Bahrain: Launches Remote Notarisation Service

  • 06/03/202506/03/2025
  • by Hannah Gutang

The Daily Tribune, 4 March 2025: The Justice, Islamic Affairs, and Endowments Ministry, in partnership with the Information and eGovernment Authority, has launched the Remote Notarisation Service in Bahrain.

This service, provided by private notaries, enables digital document certification, enhancing convenience and efficiency.

The remote notarisation service is accessible through the official website, https://notary.moj.gov.bh, and will initially be optional, gradually expanding to cover specific transaction types in its first phase.

Users are encouraged to register via the Government Notification System (Notices) on the National Portal, bahrain.bh, and keep their contact information updated for service access.

This initiative underscores the Ministry’s dedication to digital transformation, offering flexible solutions to meet the needs of the community, businesses, and investors.

It aims to save time and streamline notarisation and certification processes.

The service eliminates the need for in-person visits and paper-based transactions, utilising Blockchain technology for secure, immutable digital transactions.

It also supports electronic signatures through a One-Time Password (OTP), removing the necessity for handwritten signatures.

Users can inquire about and cancel their notarisation transactions as needed.

The introduction of this service is set to expand the private sector’s role in notarisation services, with the Ministry maintaining oversight and regulation of transactions conducted by licensed private notaries.

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UAE: Launches Real-Time Price Monitoring for Essential Commodities News developments

UAE: Launches Real-Time Price Monitoring for Essential Commodities

  • 27/02/202527/02/2025
  • by Hannah Gutang

Khaleej Times, 20 February 2025: The UAE’s Economy Ministry has launched a digital platform to monitor the prices of nine essential commodities in real-time.

This initiative is designed to prevent unjustified price increases and ensure that any changes are pre-approved by the ministry.

The platform, known as the “National Digital Platform for Monitoring the Movement of Basic Commodity Prices,” allows for real-time tracking and verification of price fluctuations, ensuring they remain within established limits.

It covers cooperatives, hypermarkets, and large stores, which represent over 90% of the domestic trade in basic consumer goods across the UAE.

The Ministry has mandated that prices for cooking oil, eggs, dairy, rice, sugar, poultry, legumes, bread, and wheat cannot be increased without prior approval.

The platform uses advanced data collection and analysis tools to alert the Ministry’s control team and other relevant entities about any breaches of the price ceiling.

It also aims to detect monopolistic practices or price manipulation, featuring a map function to identify locations instantly.

This initiative is part of efforts to enhance regulatory oversight and ensure transparency in consumer goods pricing, thereby protecting consumers.

Inspections have been conducted at major hypermarkets to verify compliance with the new pricing policy, confirming that prices for the nine essential items are displayed according to guidelines.

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Saudi Arabia: SAMA Introduces New Financial Regulations for Foreign Entities News developments

Saudi Arabia: SAMA Introduces New Financial Regulations for Foreign Entities

  • 27/02/202527/02/2025
  • by Hannah Gutang

The Saudi Central Bank (SAMA) has introduced new regulations concerning Close-out Netting and Related Collateral Arrangements, now in effect for all financial institutions under its jurisdiction in Saudi Arabia.

These regulations are designed to manage netting agreements and financial collateral arrangements, particularly in scenarios involving bankruptcy proceedings.

The regulations enable financial institutions to quickly terminate, liquidate, and settle obligations in the event of a default, thereby reducing potential losses.

The netting process consolidates obligations into a single currency, determining a net balance owed between parties, which enhances risk management efficiency.

The regulations apply to specific qualified financial contracts, including currency and interest rate swaps, commodity swaps, forward rate agreements, credit derivatives, securities repurchase agreements, commodities contracts, and Shariah-compliant financial contracts like murabaha.

For foreign multibranch entities operating in Saudi Arabia, the regulations clearly define obligations under multibranch netting agreements, limiting liabilities and ensuring financial clarity in the event of a local branch bankruptcy.

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Qatar: General Tax Authority Launches 100% Financial Penalty Exemption Initiative News developments

Qatar: General Tax Authority Launches 100% Financial Penalty Exemption Initiative

  • 27/02/202527/02/2025
  • by Hannah Gutang

Qatar Tribune, 25 February 2025: The General Tax Authority has unveiled a 100% financial penalty exemption initiative.

Starting on 1 March 2025, the initiative will be available for six months, complying with the relevant rules and regulations.

To be eligible, companies must register on the “Dhareeba Tax Portal” and ensure all taxpayer information is current.

They must also submit all required tax returns and financial statements in line with regulations and commit to maintaining full compliance over the next three years (2026, 2027, and 2028) by timely submission of returns and payment of tax dues.

During the initiative, eligible businesses can apply for penalty exemptions via the Dhareeba Tax Portal.

The General Tax Authority will evaluate applications individually and communicate approval decisions through the applicants’ portal accounts.

Taxpayers are invited to review the comprehensive guidelines available on the Authority’s website, which details the initiative’s conditions, requirements, and application procedures.

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Oman News developments

Oman: Expands Electronic Authentication Service to Saudi Arabia

  • 27/02/202527/02/2025
  • by Hannah Gutang

The Arabian Stories, 20 February 2025: Oman has unveiled the third phase of its electronic authentication service, expanding its reach to Saudi Arabia and Qatar starting 23 February 2025.

This initiative aims to enhance digital consular services and simplify authentication procedures, eliminating the need for applicants to visit Omani missions in these countries.

Initially launched on 23 January 2025, the electronic certification service is already in operation in the United Arab Emirates, Bahrain, Kuwait, India, and Sri Lanka.

The Ministry, in partnership with Oman Post, plans to gradually extend the service to more countries as part of its strategic work plan.

For individuals seeking authentication services, applications can be submitted online through the official platform: https://www.omanpost.om/ar/attestation-services

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Kuwait: New Work Permit Regulations Enforced by PAM News developments

Kuwait: New Work Permit Regulations Enforced by PAM

  • 27/02/202527/02/2025
  • by Hannah Gutang

Arab Times, 24 February 2025: The Public Authority for Manpower has announced a significant amendment to the rules and procedures for granting work permits.

This change, introduced through a ministerial resolution, adds a new clause to the existing regulations.

The amendment specifically prohibits the registration of new files for companies if any of their existing files have been suspended, pending the resolution of their legal status.

Suspension cases include scenarios such as inactive licences, licences on blocked files, and licences without a registered address.

The resolution further restricts these companies from undertaking certain actions, including adding new licences, updating licence data, adding new workers, or estimating labour needs.

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UAE News developments

Dubai: Health Authority Introduces New Organ Donation Standards

  • 27/02/202527/02/2025
  • by Hannah Gutang

Gulf News, 19 February 2025: The Dubai Health Authority (DHA) has announced updated standards for organ and tissue donation and transplantation, aiming to enhance patient care and save lives.

These improvements include expanding the donor pool through new protocols for organ donation after brain and circulatory death, which will increase the availability of organs and offer more life-saving opportunities.

The standards also focus on better donor-recipient matching for kidney, corneal, and tissue transplants, leading to higher success rates and improved recovery.

Additionally, updated services for kidney transplants and new standards for liver, pancreas, heart, and lung transplants provide access to the latest medical advancements.

The new standards were announced at a workshop for DHA-licensed hospitals, held in collaboration with international and national organ donation and transplant organisations.

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