Tanya Jain, Author at LexisNexis Middle East

Kuwait: New Auditing Rules Approved

26/04/202426/04/2024
by Tanya Jain

Arab Times, 21 April 2024: Kuwait’s Central Bank has implemented new auditing rules as part of its ongoing efforts to tackle money laundering.

They have done so in line with Financial Action Task Force or FATF standards.

The Central Bank has mandated that exchange companies it supervises hire an impartial global auditing firm to assess compliance with Kuwait Law No. 106/2013 (the Anti-money Laundering and Terrorist Financing Law).

The audit focuses on transactions and activities that appear strange or lack clear, legitimate economic purposes.

The auditing must be carried out twice a year on 30 June and 31 December. The new rules are aimed at ensuring transactions are not conducted with individuals or entities listed on international or national blacklists.

It also involves public benefit organisations and charitable institutions being investigated by a sample of their transactions being audited.

The audit also verifies customer information and details about the actual beneficiaries of transfers are properly collected and updated. Records of customers and their transactions must be retained for at least five years.

The appointed auditor cannot be an internal auditor or affiliated with the company’s internal control team.

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News developments

Dubai: Government Employees Should be Paid Early

26/04/202426/04/2024
by Tanya Jain

Khaleej Times, 21 April 2024: The Dubai government has ordered government employees be paid early this month.

They have ordered salaries be paid on 23 April 2024.

The government issued the order following heavy rains in the Emirate on 16 April 2024.

The order applies to government employees, military personnel, military retirees and social assistance holders affiliated with the Dubai government.

The payments will be made early to help employees manage their family needs and ensure their well-being during this period.

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News developments

Bahrain: Compensation for Weather Damage

26/04/202426/04/2024
by Tanya Jain

Alwatan, 18 April 2024: The Rain Damage Evaluation Committee at the Works Ministry has released a form which can be filed for compensation requests for rainwater and sewage damage.

This form relates to issues involved with the Works Ministry or contractors handling road and sewage projects. Information required includes the applicant’s name, address of the damaged house, phone number, date and details of the damage, and the estimated cost to fix the damage.

Applicants must also provide pictures, or video clips verifying the damage, along with repair invoices, property ownership documents, and the owner’s card. In the case of car damage claims, ownership and insurance documents are also required.

For the full story, click here.

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News developments

UAE: Volunteering Leads to a Golden Visa

19/04/202419/04/2024
by Tanya Jain

Khaleej Times, 14 April 2024: Volunteering in the UAE offers benefits, such as eligibility for a UAE Golden Visa, granting a 10-year residency permit.

There are a number of platforms which provide access to volunteering opportunities. These include Volunteers.ae which connects volunteers with organizations nationwide. Registration is open to individuals, teams, or companies. Users can also search for opportunities by category, organisation, or location, and see required volunteers and eligibility criteria.

Another site includes the UAE Red Crescent Authority, which is part of the International Federation of Red Cross and Red Crescent Societies, and is found athttps://www.emiratesrc.ae/. Opportunities include charity, humanitarian aid, sponsorships, donations, and Sukuk Al Khair. Volunteers can also access training courses and support initiatives like Ataya.

The National Volunteer Program for Emergencies, Crisis, and Disasters, has also launched by the National Emergency Crisis and Disasters Management Authority (NCEMA). It aims to train volunteers to respond during crises. Details on programme participation and course registration can be found athttps://www.ncema.gov.ae/en/home.aspx.

In addition, the Dubai Volunteering Centre is a government body, which oversees volunteering in the UAE and focuses on Dubai. Volunteering opportunities can be found at https://www.cda.gov.ae/DubaiVolunteer/. Individuals or companies can register to volunteer with them.

The Sharjah Volunteering Centre is the largest volunteer network in Sharjah. it is possible to registration with it at https://sssd-volunteer.shj.ae/register. They offer programme and workshops to train volunteers and list opportunities across Sharjah, searchable by city and institution.

Dubai cares is a civil society organisation which if formally affiliated to the United Nations Department of Global Communications. It is possible to sponsor or volunteer for initiatives with them. Details such as country, partner, and date of each of their programmes are available at: https://www.dubaicares.ae/.

The Authority of Social Contribution (Ma’an) in Abu Dhabi promotes a volunteering community via their website https://maan.gov.ae/en/ . Through Ma’an, volunteer groups and organisations can contribute via donations, volunteering, and corporate social responsibility initiatives. The platform facilitates volunteer applications based on individual goals and allows organisations to recruit volunteers.

Volunteering at events often earns you volunteering hours and can even lead to applying for a Golden Visa if you’re a pioneer in humanitarian work.

In order to be eligible for a Golden Visa as a result of volunteering it is necessary to meet the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) criteria. This includes having worked for at least five years in international or regional organisations, or have been an distinguished worker there.; having been a member of a public benefit associations or institutions for at least five years, or having been a distinguished worker in one of these bodies; having received an award for recognition from a local, regional, or international institutions which focuses on humanitarian work; having been a distinguished volunteer in humanitarian work for at least five years or having completed 500 volunteer hours; or having supported humanitarian work financially with at least 2 million AED or the equivalent in another currency.

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News developments

Sharjah: UAE Pass for Property Deeds

19/04/202419/04/2024
by Tanya Jain

Khaleej Times, 14 April 2024: Sharjah’s Real Estate Registration Department (SRERD) has linked ownership and usufruct deeds to the UAE Pass.

The government department has become the first in the region to offer this service.

The Department’s customers will be able to download various deeds, such as ownership and private benefit deeds, through the UAE app on their mobile phones. The app will also allow users to access the services of local and federal government agencies in a simplified and secure manner without the need to visit government service centres.

SERD’s director-general has stated that this new service will be line with the directives from Sharjah’s Executive Council for digital transformation.

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News developments

Saudi Arabia: Port Authority Warns Companies against Non-compliance

19/04/202419/04/2024
by Tanya Jain

Aleqtisadiya, 15 April 2024: The Saudi Port Authority has stated it will implement stricter measures against companies found not to be complying with port operations and customs procedures in Jeddah and Dammam.

The Authority has informed operating companies that new measures will be implemented, which will include fines of about 10,000 riyals per container.

The Authority issued a warning after noting operators were not fully complying with requirements on operational performance, timeliness, and follow-up in unifying, unloading, repacking, and transporting containers. This breached an agreement signed between the Ports and Customs authorities on performance indicators by operating companies.

For the full story, click here.

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News developments

Oman: New Real Estate Framework Plans

19/04/202419/04/2024
by Tanya Jain

Oman Observer, 13 April 2024: Omani Ministry of Housing and Urban Planning will implement eight initiatives and prepare laws and regulations which will regulate real estate and related activities in Oman.

The Ministry aims to unify regulations on real estate development, brokerage, evaluation, owners’ associations, and escrow accounts under a single legal system which would be entitled Real Estate Regulatory Law in Oman.

The most significant of these initiatives is the regulation of the real estate valuation sector. Controls and standards have been established to regulate real estate valuation companies and offices in Oman. These companies have been classified, and highly qualified real estate appraisers have been put in place to organise and control the real estate market. The aim is to conduct fair and accurate valuation of land and properties. In addition, a draft regulation has also been prepared with the help of relevant authorities.

The initiative on governance of real estate brokers aims to regulate real estate broker companies and reduce unlicensed real estate agencies. The proposed draft is expected to be submitted to the Justice and Legal Affairs Ministry by the end of 2024.

The Ministry is also working on the final draft of regulations on the Real Estate Registry Law. This initiative aims to regulate real estate registry and keep up with digital transformation of transactions. It will set controls and conditions for regulating real estate registry in line with the Land Registry Law in Oman.

In addition, the ministry will finalise regulations on the expropriation law for public benefit and review the executive regulations so they align with the next phase. The aim is to issue regulations on the expropriation law for the public interest within the course of 2024.

There are also plans to introduce an integrated Urban Planning Law, and executive regulations. .

The ministry also intends to prepare a Housing Law and executive regulations. This aim is to unify laws on to social housing and land usage in Oman under a unified framework, which can adapt to future changes.

The Ministry will also be conducting a study into the governance of foreigners’ ownership of usufructs for a period of 99 years, and aims to provide foreigners with the opportunity to own usufructs outside integrated tourism complexes in specified areas.

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News developments

Bahrain: Proposed Healthcare Law Changes

19/04/202419/04/2024
by Tanya Jain

The Daily Tribune, 16 April 2024: The Bahrain’s Shura Council’s Services Committee has discussed a proposal to amend certain provisions of Bahrain Decree-Law No. 21/2015 on private health institutions.

The proposed legislation aims to safeguard the rights of Bahraini doctors to establish private clinics, medical centres, medical complexes, alternative medicine centres or other healthcare facilities. The legislation will also allow them to practice in conjunction with other areas by supporting other medical professional.

Previously, specialist medical institutions could only be established by Bahraini doctors who were licensed to practice medicine or dentistry within Bahrain, with exceptions for rare medical specialties. However, licenses to establish hospitals are now granted to individuals, companies, or foreign medical institutions.

In the proposed law, individuals aiming to establish a health institution, along with their partners, must have a clean criminal record but exceptions are made for those who have undergone rehabilitation or received a pardon from relevant authorities. In addition, the proposal will allow heirs of the licensee to continue operating the institution, provided it is managed by a Bahraini general physician or consultant in line with the facility’s license. These designated professionals would assume responsibility for all technical and administrative aspects of the institution. Heirs are also allowed to retain the institution’s name if it bears the name of the deceased founder.

The proposed law also grants authority to the National Authority for Regulating Health Professions and Services to implement a national accreditation program for health institutions.

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News developments

Lexis Middle East Law Alert: January/ February 2024 Edition

15/04/202415/04/2024
by Tanya Jain

Welcome to the March – April 2024 issue of Lexis Middle East Law Alert, where we shed light on the legal dynamics of the region through thorough analysis and expert perspectives. In this issue, we embark on a journey through the ever-changing landscape of law, uncovering significant developments, landmark cases, and emerging trends that shape the legal framework of the Middle East.

From the complexities of privatisation in Saudi Arabia to the evolving regulations in advertising across Kuwait, our features offer valuable insights into key sectors and legal domains. We delve into case studies, scrutinise legislative updates, and offer practical guidance from esteemed legal experts, equipping our readers with the knowledge to navigate the intricacies of today’s legal landscape.

FEATURE: THE PATH TO PRIVATISATION

Madawi Mohammed Alfawzan of Mohammed Alaqeel & Co Law Firm sheds light on the recently issued implementing regulations and guidelines of the Saudi Arabian Privatisation Law. Explore how these regulations are paving the way for a smoother journey towards privatisation.

FEATURE: FOCUS ON ADVERTISING

Noura Al-Yaqout of Al Yaqout and Al Fouzan Legal Group examines the impact of new advertising regulations in Kuwait. Discover the key changes and their implications for businesses in promoting their products.

FEATURE: CASE FOCUS

Delve into a case involving a letter of intent, unraveling the legal intricacies surrounding this crucial aspect of business agreements.

IN-HOUSE PROFILE

Meet Robin Singh, Head of Regulatory Affairs and Privacy at Abu Dhabi Health Services Company (SEHA), as he navigates uncharted waters in healthcare amidst advancing technology.

DISPUTE RESOLUTION FOCUS

Contractual Termination: Sadique Mohd and Gago Rigga of Al Aidarous provide insights into contract termination in construction contracts.
Arbitration Focus: Sadique Mohd and Safia Abdalla of Al Aidarous explore the pitfalls of construction arbitration.
ADGM Expansion: Waleed Hamad and Myriam Simon of Al Aidarous analyse the legal implications of the ADGM Court’s Jurisdictional expansion and coverage of Al Reem Island.

MOVERS AND SHAKERS

Check out our latest round-up of the top movers and shakers from the world of legal appointments and promotions, brought to you by Jameson Legal. Who is been promoted, who is been appointed, and who is moving on?

CONTRACT WATCH: ARBITRATION CLAUSES

Contributor Aiman A Khair, Legal Counsel at Qatar Stock Exchange, offers insights into derivative contracts in our Contract Watch segment.

Thanks to Jameson Legal for supporting individuals and businesses, and Al Aidarous for keeping us updated on dispute resolution cases.

Lexis Middle East Law Alert_March April 2024

Explore the past editions of the Lexis® Middle East Law Alert and stay up-to-date with the latest news! Click the links below for instant access to older editions.

Lexis Middle East Law Alert January-February 2023

Lexis Middle East Law Alert March-April 2023

Lexis Middle East Law Alert_May June 2023

Lexis Middle East Law Alert_July August 2023

Lexis Middle East Law Alert_January-February 2024

TAX AND FINANCE ROUND-UP

Get updated on the taxation of foreign banks in Dubai and other key developments in the region’s tax and finance landscape. We provide an in-depth analysis of the significant developments influencing the financial landscape in the Middle East.

LEGAL ROUND-UP

Stay informed with our legal round-up, providing a comprehensive overview of recent developments across the region. Stay informed with our comprehensive legal round-up, covering significant developments such as the DIFC Digital Assets Law.

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News developments

Saudi Arabia: Customs Duty Exemptions Expanded

04/04/202404/04/2024
by Tanya Jain

Saudi Gazette, 1 April 2024: An expansion of customs duty exemptions for various industrial products and materials has come into force.

The exemptions came into force on 1 April 2024 following the issuing of a Decision by the Industry and Mineral Resources Ministry last month.

These industrial products and materials include raw materials, semi-finished materials, finished materials, packaging materials, machinery, equipment and spare parts, which are directly required for industrial production operations without any restriction.

The Ministry also clarified that the customs duty exemptions also apply to fully manufactured products as well as materials and items essential for production processes.

The Ministry added that certain items manufactured domestically, either as final products or imported as necessary materials, supported by valid justifications for customs duty exemptions, could be considered for inclusion on the list of domestic industrial capacities.

These exemptions will benefit all industrial entities that have a valid industrial licence from the Ministry.

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