Tanya Jain, Author at LexisNexis Middle East

Oman: Regulations Amended to Support Liquidity Fund

23/05/202423/05/2024
by Tanya Jain

Shabiba, 16 May 2024: The Muscat Stock Exchange has celebrated by ringing the bell for the inauguration of a “Liquidity Development Fund”.

The fund aims to improve the liquidity of shares of companies listed on the stock exchange.

The launch of the fund aligns with the ongoing developments in the Omani capital markets, which include the announcement of several new IPOs and the introduction of regulations governing market-making operations.

The Muscat Stock Exchange is intensifying its marketing efforts with regional campaigns and incentive initiatives.

This involves making significant changes to certain regulatory requirements for capital markets, especially regarding taxes on distributed profits. For the full story, click here.

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News developments

Kuwait: Advertisement Regulations Amended

23/05/202423/05/2024
by Tanya Jain

Alrai, 16 May 2024: The Public Works Minister and the State for Municipal Affairs Minister have issued a ministerial decision to amend advertisement regulations.

The regulatory amendments now include new fees for recent advertisements that previously did not have financial compensation as listed in the advertisements, with some provisions being amended.

The amendments involve the introduction of new fees, including a charge of 5 dinars per square meter per month for seasonal advertisements.

A fee of 75 dinars annually per square meter on animated electronic advertisements.

Additionally, 50 dinars annually per square meter on fixed and non-moving electronic commercial advertisements.

For the full story, click here.

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News developments

Dubai: Complaints System for Military Departments Approved

23/05/202423/05/2024
by Tanya Jain

Emaratalyoum, 20 May 2024: The Dubai Government Human Resources Department has issued Dubai Decision 1/2024, which approves the grievances and complaints system for the military departments in Dubai.

The decision aims to achieve several goals.

First, it governs the procedures of the military department committees covered by the law.

Second, it organises the process of handling grievances and complaints before the relevant committee in terms of procedural and substantive rules.

Third, it links this process to the one followed by the Central Committee, in accordance with Dubai Decree No. 27/2018.

This includes specifically organising the timelines for submitting a grievance or complaint.

The decision aims to raise the level of performance of the committees’ work and align their indicators with government indicators and those of the Central Committee.

The objectives of the decision also include ensuring proper implementation of the provisions of current legislation and compliance with set limits.

It also aims to address any complaints from affiliates by providing an optimal environment within the department and reducing the need to resort to the Central Committee.

For full story, click here.

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News developments

Abu Dhabi: Single-Use Styrofoam Ban From 1 June 2024

23/05/202423/05/2024
by Tanya Jain

Khaleej Times, 21 May 2024: The Abu Dhabi Environment Agency and the Economic Development Department have announced that single-use styrofoam products will be banned from 1 June 2024.

The ban will apply to cups, lids, plates, beverage containers, and food receptacles intended for immediate consumption.

Items exempt from this ban will include reusable storage boxes, coolers, and items intended for medical use.

The initiative to ban single-use styrofoam is an extension of the Abu Dhabi Single-Use Plastic Policy and supports the aims of the Year of Sustainability.

The Abu Dhabi Single-Use Plastic Policy was launched in May 2020.

Under this policy, a ban on the sale of single-use plastic bags across all retailers took effect on 1 June 2022, resulting in a 95% reduction in their use.

Other emirates in the UAE have also enforced similar bans on single-use plastic products.

In Sharjah, the ban began on 1 January 2024, and the emirate announced on 22 April 2024 that the municipality had stopped manufacturing single-use plastic bags.

Dubai has also announced a ban on single-use plastic effective 1 January 2024, imposing fines of up to Dh2,000 for violations.

These bans followed the federal government’s announcement in January 2023 about the pan-UAE ban on single-use plastic starting in 2024.

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News developments

UAE: New Air Travel Protocols

17/05/202417/05/2024
by Tanya Jain

Khaleej Times, 14 May 2024: The UAE aviation authority has introduced a new protocol to combat the spread of communicable diseases during air travel.

This protocol aims to facilitate swift reporting by operators’ stations and promote collaboration with local health authorities.

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News developments

Saudi Arabia: HR Ministry To Start Wage Protection Service

17/05/202417/05/2024
by Tanya Jain

The Human Resources Ministry and Social Development has announced its decision to implement a Wage Protection Service related to salaries of domestic workers through the Musaned platform.

In the first phase, the Wage Protection Service will be implemented for domestic workers arriving under new contracts, starting from 1 July 2024.

Existing house workers will gradually transition into the system in stages, based on the number of domestic workers each employer has.

By 1 January 2026, all categories of domestic workers will be covered by this service.

This service continues the ministry’s initiatives to develop the domestic workers sector and safeguard the rights of both workers and employers.

It aims to ensure salary payment transparency and facilitate it through digital wallets and approved banks via the ministry’s Musaned platform.

Enhancing the security and reliability of wage transfers preserves the rights of all parties involved in the contracts.

The new service will be implemented for employers with more than four domestic workers starting from 1 January 2025.

For employers with three or more workers, it will begin on 1 July 2025, while those with two or more workers will have it on 1 October 2025.

The service has been available on the Musaned platform since 1 April 2022, receiving positive feedback and interaction from customers and contractual parties.

The service of paying domestic workers’ salaries through specific official channels offers several benefits for the employer.

It improves the verification of salaries, simplifies procedures related to the worker’s termination or travel, and provides protection for both the employer and the worker in case of disputes.

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News developments

Qatar: Guide for Landlords and Tenants Rights Being Prepared

17/05/202417/05/2024
by Tanya Jain

Al Sharq, 13 May 2024: The Head of the Office of the Rental Dispute Resolution Committees at the Municipality Ministry has announced the implementation of several proposals to meet the needs of the public and the rental committees.

The committee has stated that it is developing new financial services, soon to be announced, and is collaborating with the Ministry’s unified call centre to roll out an inquiry service.

The committee is also in the process of introducing new financial services, which will be announced shortly, along with the launch of an inquiry service in collaboration with the Ministry’s unified call centre.

The move from the previous system to the Courts System and the gradual shift from paper-based to electronic transactions as part of digital transformation have facilitated swift adjudication of applications.

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News developments

Oman: Draft Media Law Discussed With Information Ministry

17/05/202417/05/2024
by Tanya Jain

The State Council, in collaboration with the Information Ministry, has discussed the draft version of the new media law.

The draft media law aims to include updates and recent developments since the last issuance of media regulations.

It is designed to serve as comprehensive legislation governing the media sector in Oman.

Discussions have also included, the potential impact of the draft law on the media industry, its role in improving Oman’s international ranking in terms of freedom of expression, and the regulation of procedures for licensing media-related activities.

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News developments

Dubai: Remote Litigation System Implemented

17/05/202417/05/2024
by Tanya Jain

Emaratalyoum, 10 May 2024: The Public Prosecution in Dubai has partnered with E&Enterprise to implement a digital system for remote investigation and litigation.

The system will be overseen by the Public Prosecution through a central operations room, and integrated with key partners including the Dubai Courts, Dubai Police, and the General Directorate of Residency and Foreigners Affairs.

Under the agreement, the parties aim to implement a centralised system for remote investigation and litigation.

This platform will offer stakeholders a unified judicial solution which can be accessed remotely for dispute resolution. purposes

Some key features will include central storage and archiving, scheduling of remote interviews, and reserving rooms at various locations such as police stations, courts, and investigation rooms by the Public Prosecution.

For full story, click here.

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News developments

Bahrain: Proposal on Establishing Union of Beneficiaries of Housing Apartments Ministry

17/05/202417/05/2024
by Tanya Jain

Al Watan, 13 May 2024: A Bahraini MP has proposed a law to establish a union for beneficiaries of Ministry of Housing and Urban Planning apartments.

This union would organise services and shared spaces within these housing complexes.

The aim is to ensure effective management and maintenance of the building and its common areas by all beneficiaries.

Establishing the Union of Beneficiaries of Ministry of Housing apartments would facilitate regular maintenance and address any malfunctions. For the full story, click here.

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