Hannah Gutang, Author at LexisNexis Middle East

Ajman: Launches New Digital Payment Services and Interest-Free Instalment Options

24/10/202524/10/2025
by Hannah Gutang

Kuwait Citizen, 16 October 2025: The Department of Finance in Ajman has unveiled two major payment innovations introducing local smart payment services through the ‘Jaywan’ card system and a new interest-free payment instalment scheme.

The department has integrated the UAE Central Bank’s ‘Jaywan’ national payment card with the ‘AjmanPay’ platform, offering residents an alternative to international payment networks. This card system provides comprehensive payment capabilities across ATMs, e-commerce platforms, and point-of-sale terminals.

Alongside this, the department has implemented a ‘Get it done now and pay later’ service, enabling customers to split government fee payments into monthly instalments without interest charges. The service also includes an option to defer payments for a specified period.

The department also showcased its new ‘Estidama system’ Smart Financial System at the exhibition. This cloud-based platform integrates four modules managing budgeting, initiatives, financial execution, and reporting for government operations.

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News developments

Abu Dhabi: New Regulatory Framework Unveiled for Professional Service Providers

24/10/202524/10/2025
by Hannah Gutang

Abu Dhabi’s financial district has implemented new comprehensive regulations governing legal, tax and company service providers, introducing stricter controls and professional standards effective immediately.

The Registration Authority has issued two key regulatory documents: the Commercial Licensing Regulations (Conditions of Licence and Branch Registration) Rules 2025 and the Commercial Licensing Regulations (Controlled Activities) Rules 2025, which replace the existing framework.

Under the new regulations, legal service providers must now appoint a managing partner with a minimum of eight years post-qualification experience. They are required to maintain a registered office in the financial district, obtain professional indemnity insurance, and submit annual returns to the Registration Authority.

The framework introduces tax services as a new controlled activity, requiring firms to ensure that at least 50 per cent of their senior management consists of qualified professionals. These providers must also secure professional indemnity insurance and adhere to specific operational principles.

Additional measures require company service providers to implement formal policies and procedures for managing conflicts of interest, marking a significant enhancement to governance standards.

The regulations take immediate effect for new applicants, while existing licence holders will benefit from transitional periods to ensure compliance with the updated requirements. This regulatory update represents the most substantial enhancement to professional service provider oversight in the financial district to date.

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News developments

UAE: Central Bank Gains New Powers Under Financial Stability Law

17/10/202517/10/2025
by Hannah Gutang

Gulf Today, 11 October 2025: The UAE has introduced sweeping new financial regulations, granting the Central Bank enhanced powers to intervene in troubled institutions and impose larger penalties for violations.

Federal Decree-Law No. 6/2025 establishes several key measures: Crisis Management Powers: authority to remove and appoint bank management, power to transfer or sell assets and obligations, ability to override shareholder rights, authority to implement forced mergers or liquidations and power to establish temporary entities for asset management.

Consumer Protection Measures: creation of “Sanadak” unified complaints system, establishment of specialised judicial committees, final binding decisions for disputes up to AED 100,000 and mandatory financial access requirements for institutions.

Enhanced Penalties: increased administrative fines, penalties up to ten times violation value, automatic deduction of fines from accounts and direct recovery powers from responsible individuals.

The law strengthens early intervention protocols, allowing the Central Bank to impose additional capital requirements, mandate recovery plans, and restructure troubled institutions’ operations.

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News developments

Sharjah: Introduces New Vehicle Impoundment and Towing Regulations

17/10/202517/10/2025
by Hannah Gutang

The Sharjah Executive Council has approved new regulations governing vehicle impoundment and towing services across the emirate.

Under the new framework, vehicle owners now have the option to pay a daily fee for early release of impounded vehicles, rather than serving the full impoundment period. The regulations establish specific timelines for when these daily fees begin, varying according to the type of violation.

The council has also implemented standardised towing fees and procedures for handling vehicles involved in accidents or requiring removal by authorities. The new system includes protocols for the rapid clearance of broken-down vehicles to maintain traffic flow and road safety.

Additionally, the council has ratified an agreement with taxi operators to establish unified operational standards across the emirate’s transportation network.

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News developments

Saudi Arabia: Reforms Accounting Law and Development Fund Regulations

17/10/202517/10/2025
by Hannah Gutang

Argaam, 14 October 2025: The Saudi Arabian Cabinet has approved significant amendments to two major financial frameworks: the Law of the Accounting and Auditing Profession and the operational regulations of the National Development Fund (NDF).

The approved modifications encompass both the professional standards for accountants and auditors, as well as revisions to the governing structure of the Saudi Organization for Auditors and Accountants. These changes establish new operational parameters for accounting professionals in the kingdom.

Simultaneously, the cabinet sanctioned updates to the NDF’s bylaws, marking a substantial revision to the fund’s operational framework. This follows the fund’s strategic restructuring initiated in March 2022, which positioned it as an integrated national financial institution.

The NDF has established specific financial targets through its network of development banks and affiliated funds.

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News developments

Qatar: Cabinet Approves New Limits for Small Business Tender Exemptions

17/10/202517/10/2025
by Hannah Gutang

Qatar Tribune, 9 October 2025: The Qatari Cabinet has approved changes to exemption limits for micro, small, and medium-sized enterprises (MSMEs) participating in government tenders.

The Cabinet also endorsed several international agreements, including: a mutual investment protection agreement with the Dominican Republic, membership in the WorldSkills Asia Organisation, a railway link agreement with Saudi Arabia and a development planning cooperation agreement with Kuwait.

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News developments

Oman: VAT Guidelines Issued for Firms Trading with GCC

17/10/202517/10/2025
by Hannah Gutang

The Arabian Stories, 13 October 2025: The Tax Authority has released new guidance detailing VAT procedures for Omani businesses engaged in regional trade with the UAE and other GCC nations, outlining specific measures to avoid double taxation.

The guidance presents two primary options for Omani companies purchasing goods from the UAE. Under the first option, businesses can arrange with UAE suppliers to treat transactions as export supplies, qualifying for zero-rated VAT status. This requires proper export documentation to comply with UAE tax regulations.

The second option addresses situations where VAT has already been paid, offering two recovery routes. Businesses can either obtain a credit note from their UAE supplier upon providing proof of export, or directly request a refund through the Business Visitor VAT Refund Form, provided they have no permanent establishment in the UAE.

The guidance outlines the documentation requirements and verification processes necessary for businesses to properly manage their VAT obligations. For export-related transactions, companies must maintain proper export declarations and supporting documentation to validate their zero-rated status claims.

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News developments

Kuwait: Justice Ministry Issues New Debt Collection Guidelines

17/10/202517/10/2025
by Hannah Gutang

Arab Times, 9 October 2025: Kuwait’s Ministry of Justice has implemented new regulations governing enforcement procedures for debt collection, following Kuwait Administrative Circular No. 26/2025.

Under the new guidelines, existing asset seizures and travel bans will remain in force even if debtors file initial objections to enforcement procedures. However, arrest warrants and subpoenas must be suspended once a valid objection is lodged, and any imprisoned debtors must be released.

The circular specifies that creditors may reinstate arrest procedures without proving debtor solvency if the objection is ultimately rejected or dismissed.

All enforcement judges, department directors, and supervisory staff across the General Administration of Enforcement and its regional branches are required to implement these new procedures with immediate effect.

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News developments

GCC: New Permanent Residency Schemes

17/10/202517/10/2025
by Hannah Gutang

The Daily Tribune, 14 October 2025: GCC countries have introduced comprehensive long-term residency schemes, expanding opportunities for foreign nationals to establish permanent roots in the region.

Under the new frameworks, each GCC nation has established distinct residency pathways. Saudi Arabia’s Premium Residency programme offers two options: an annual renewable permit for SAR 100,000 or a permanent residency for SAR 800,000. The scheme enables holders to live and work without requiring a sponsor.

Qatar has implemented a property-based residency programme, granting temporary status for $200,000 investments and permanent residency for $1 million investments. The processing time ranges from four to six weeks, with successful applicants gaining rights to work and sponsor family members.

Bahrain’s Golden Residency Visa provides a 10-year renewable permit for individuals meeting specific criteria, including property ownership valued at BHD 200,000 or a monthly income threshold of BHD 2,000 after five years of residence. Retirees can qualify with a monthly income of BHD 4,000.

Oman has introduced a tiered system through its Investor Residency Program, offering 10-year visas for OMR 500,000 investments and 5-year visas for OMR 250,000 investments. The programme includes provisions for retirees with fixed monthly incomes of OMR 4,000.

Each programme includes specific provisions for property ownership, business operation, and family sponsorship, with varying investment thresholds and eligibility requirements across different GCC states.

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News developments

DFSA: Launches Digital Application Platform

17/10/202517/10/2025
by Hannah Gutang

DFSA has introduced a new digital platform to accelerate regulatory approvals, responding to an 18% rise in licence applications during the first nine months of 2025.

Key Features of DFSA Connect: automated application processing, streamlined workflow system, online approval tracking, reduced manual procedures and AI-ready infrastructure.

Current Impact: 33% efficiency improvement expected, faster processing times and simplified authorisation process.

The platform handles: financial services authorisations, regulatory approvals, licence applications and compliance documentation.

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