Tanya Jain, Author at LexisNexis Middle East

Qatar: QFCRA Proposes Amendments to Prudential Rules for Banks

01/05/202501/05/2025
by Tanya Jain

The QFCRA has issued a Consultation Paper outlining proposals, set out in the draft BANK and IBANK (Market Risk and Miscellaneous) Amendments Rules 2025.

The amendments aim to introduce the Basel Committee on Banking Supervision’s simplified standardised approach as the default method for assessing market risk, particularly for banks with less complex trading portfolios.

The proposals would require a bank’s net open position in any foreign currency other than the US dollar not to exceed 5% of its Tier 1 capital. The net open position in the US dollar would be unable to exceed 25% of the bank’s Tier 1 capital and the higher of the total net open positions in surplus or deficit across all foreign currencies (including the US dollar) would have to remain within 30% of the Tier 1 capital.

These amendments would apply to all QFC-authorised banks. The decision was issued as a Consultation Paper, allowing the Regulatory Authority to gather feedback from conventional and Islamic banks operating under the specified prudential rules.

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News developments

Oman: New Regulations for Independent Water and Sanitation Tanker Operations

01/05/202501/05/2025
by Tanya Jain

The Arabian Stories, 27 April 2025: The Authority for Public Services Regulation (APSR) in Oman issued APSR Decision No. 31/2025, establishing new regulations for independent tanker operations in the water and wastewater sectors.

The new regulations specifically targeted independent tanker operators involved in water transport, wastewater collection, and treated water transport. Under these regulations, operators must obtain permits and adhere to a Unified Service Level Agreement approved by the APSR. The responsibilities of both operators and licensees, are outlined including quality standards, complaint mechanisms, and testing protocols.

The regulations set specific requirements for the operation, maintenance, and branding of independent carriers, including designated colours for different types of tankers to ensure compliance with safety and operational standards. According to Article 6 of APSR Decision No 31/2025, potable water tankers will be painted blue with “potable water” written on them, non-potable water tankers green with “non-potable water,” and sewage tankers yellow with “sewage.”

Independent tanker operator must regularise their status within one year from the enactment of the regulations. They were also required to meet documentation and operational requirements, including installing tracking devices on tankers and undergoing regular inspections to ensure compliance with technical standards.

The regulations stipulated penalties for violations, with fines ranging from RO 50 to RO 50,000 depending on the severity of the violation. Repeat violations could lead to additional fines, with continuing offenses attracting daily penalties.

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News developments

Kuwait: Changes to Criminal Law

01/05/202501/05/2025
by Tanya Jain

Arab Times, 26 April 2025: The Kuwait Council of Ministers approved amendments to the Penal Code, originally enacted under Kuwait Law No. 16/1960.

The amendments have increased fines for manslaughter and unintentional injuries and introduced new articles which alter penalties under aggravating circumstances. A provision was also added to protect the financial system from debtors falsely claiming insolvency.

In addition, amendments to the Code of Criminal Procedure and Trials Kuwait Law No. 17/1960 found in Kuwait Decree-Law No. 62/2025 have included electronic notification of in-absentia judgments to expedite delivery and ensure convicts are informed, reducing litigation delays. Article 230 of Kuwait Law No. 17/1960 has been was amended to facilitate the collection of criminal fines, allowing the Public Prosecution to deduct fines from salaries or arrange instalment payments.

The Council has also approved amendments to Article 5 of Kuwait Law No. 71/2020 on Bankruptcy, reinstating arrest and detention for debtors who evade financial obligations and enhancing enforcement authority for financial disclosures.

A draft decree-law amending the Civil and Commercial Procedures Law ,Kuwait Decree-Law No. 38/1980, has been introduced, which will allow the Enforcement Department to notify a Credit Information Company of non-payment, impacting the debtor’s credit record.

The Public Authority for Combating Corruption (Nazaha) was reinforced through amendments to Kuwait Law No. 2/2016 On the Establishment of the Public Authority for Anti-Corruption and the Provisions Related to Financial Disclosure, broadening the definition of corruption and mandating electronic submission of financial disclosures.

Kuwait Ministerial Decision No. 194/2025 to have also been issued to regulate payment procedures for official documents, in order to combat money laundering and enhance transparency in the real estate market.

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News developments

Dubai: New Public Health Law Impacts Travellers

01/05/202501/05/2025
by Tanya Jain

Gulf News, 25 April 2025: Travellers entering Dubai are to be required to follow specific health protocols as a result of a new health law.

Dubai Law No. 5/2025 on Public Health outlines a wide-ranging framework to improve community health, reduce disease transmission, and align public health practices with international standards.

It introduces strict obligations for travellers, individuals, and healthcare providers, while also clarifying the roles of government entities in safeguarding health and the environment.

Travellers must adhere to official health protocols, provide requested information at Dubai’s entry points and report any suspected or confirmed communicable diseases.

Anyone who is infected or suspected of having a communicable disease must avoid contact that could spread their illness. The law states individuals must refrain from travelling or moving, except to healthcare facilities, without the approval of the Dubai Health Authority.

Those who are travelling while ill, must observe hygiene measures such as wearing masks and maintaining physical distancing in line with approved guidelines.

The law prohibits concealing infections or spreading them, whether intentionally or unintentionally, and requires individuals to comply with measures to prevent the spread of disease, following guidelines issued by relevant authorities and healthcare providers.

It has established a comprehensive framework to promote public health and safeguard community and environmental well-being. It outlines a focus on disease prevention, healthcare, food and product safety and sustainable efforts to improve overall quality of life.

It aims to minimise any health risks affecting individuals and communities in Dubai through precautionary measures and evidence-based practices that align with both local and international health regulations.

It also promotes greater coordination and collaboration at all levels to strengthen preparedness and response to any public health challenges in the emirate. and aims to increase public awareness of health risks and prevention methods by fostering a sustainable environment that attracts investment.

In addition, it has also formally defined the roles and responsibilities of relevant authorities in managing communicable diseases.

These authorities include local government entities tasked with overseeing public health in Dubai, such as Dubai Health Authority, Dubai Municipality, the Dubai Environment and Climate Change Authority, the Dubai Academic Health Corporation and the Dubai Corporation for Ambulance Services.

The law has outlined the responsibilities of the relevant authorities in food safety, specified obligations for food-related establishments and set out some rules for consumer product activities.

It has also detailed responsibilities in areas such as built environmental health, labour accommodations, pest control and the Dubai Health Authority’s role in managing health risks, emergencies and crises.

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News developments

Bahrain: Parliament Passes Bill Mandating Advance Notice or Full Compensation

01/05/202501/05/2025
by Tanya Jain

The Daily Tribune, 30 April 2025: Bahrain’s Parliament has approved a bill amending Bahrain Law No. 36/2012 (labour law), which would require employers to provide advance notice or full compensation for economic dismissals

The bill, has now moved to the Shura Council for review, and will set stricter conditions for terminating employment due to economic reasons, such as business closures or changes in production methods.

The proposal would require employer to pay full compensation unless they have notified the Labour Ministry 60 days before informing the workers of dismissal, and have provided recent audited financial statements or financial records covering the last three years, depending on the circumstances. In cases where both a Bahraini and a foreign worker hold the same job with similar experience and skill, the Bahraini must be retained unless the company is closing entirely. Failure to meet these conditions would lead to all payments under Article 111 of Bahrain Law No. 36/2012 being made. If the requirements are met only half the amount would be payable.

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News developments

Abu Dhabi: New Rights for Caregivers

01/05/202501/05/2025
by Tanya Jain

Gulf News, 23 April 2025: The Department of Community Development – Abu Dhabi has announced programmes under its Barakatnu initiatives which will give new rights to the elderly and their caregivers.

These include the right to obtain temporary alternative care for senior citizens. Care is provided for up to eight hours a day once a week for a total 48 days a year to enable caregivers to attend to their personal responsibilities and spend time with their families. In addition, the Government Empowerment Authority is offering to Obtain Approval for Flexible Working Systems for Caregivers. This scheme will allow caregivers to obtain a certificate which grants them access to flexible work policies in government entities.

The Department of Municipalities and Transport is offering a service to Additional Units for Special Cases Approval, which will allow families to make structural modifications to their homes in order to create dedicated, private, and comfortable living spaces for senior family members.

The Abu Dhabi Housing Authority has also set up a number of initiatives which will allow senior citizens to obtain home improvements, extend the repayment of housing loans to reduce pressure on caregivers and provide buying and selling house grants to allow families to move closer to each other.

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News developments

Saudi Arabia: Banks Banned From using WhatsApp Communications

04/03/202504/03/2025
by Tanya Jain

The Saudi Central Bank (SAMA) has announced a ban on the use of instant messaging applications, such as WhatsApp, by local banks for customer communications, citing these platforms as unreliable. In response, the Central Bank has urged financial institutions to explore secure alternatives, such as integrating instant messaging services like Live Chat or ChatBot within their applications or websites, while ensuring compliance with personal data protection requirements.

Local banks have been instructed to implement these measures and educate their staff, including branch, customer service, and marketing employees, about the new guidelines, conducting necessary assessments to ensure compliance.

The Media and Awareness Committee at Saudi Banks has highlighted the prevalence of fraud cases involving impersonation of charitable organisations or public figures on social media.

Fraudsters deceive victims by pretending to represent official entities, using fake documents and seals to solicit fees for supposed financial assistance.

The committee has emphasised that legitimate organisations do not solicit donations or search for beneficiaries through social media or instant messaging platforms. Fraudsters often lure victims by falsely claiming they are entitled to donations or support from well-known charities, or by exploiting the names of legal entities, demanding fees through money transfers or payment links.

Customers are encouraged to use the secure SADAD system, available in all Saudi banks and banking applications, for official bill payments and service fees. In the event of fraud, immediate notification to the bank is crucial for recovery actions.

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News developments

Bahrain: Tightens Advertising Regulations

28/02/202528/02/2025
by Tanya Jain

The Daily Tribune, 26 February 2025: Bahrain is set to impose stricter penalties on misleading advertising, with a new government-drafted bill proposing fines of up to BD20,000 and potential jail time for offenders.

The legislation, currently under review by Parliament’s Public Utilities and Environment Committee, aims to eliminate harmful advertising practices and streamline the licensing process.

The bill seeks to amend Bahrain Law No. 14/1973, introducing tighter controls on advertising, particularly for roadside promotions and commercial displays overseen by the Municipalities Affairs Ministry.

Under the proposed regulations, violations such as advertising without a licence, breaching licence conditions, providing false information, or using unlawful means to secure a permit could result in jail terms or fines ranging from BD1,000 to BD20,000.

Additionally, obstructing ministry inspectors or concealing necessary records and documents would incur penalties.

Each infraction would be treated individually, with courts mandated to order the removal of unauthorised advertisements at the advertiser’s expense.

The bill defines advertising as any medium intended to inform the public or a specific group about a product, service, or offering, encompassing visual, audio, or illuminated adverts, as well as those made from materials like wood, metal, paper, fabric, plastic, or glass.

Advertisers would be required to obtain prior approval from the relevant authority before displaying content.

The ministry would have the authority to inspect advertisements and remove those that violate the rules, providing advertisers with at least 15 days’ notice before removal and requiring them to cover the cost of restoring the site.

The ministry could also revoke an advertising licence permanently or temporarily.

Penalties would apply to each offending advertisement, and anyone who removes, damages, or defaces a licensed advertisement, or any part of it, would face a separate fine of up to BD1,000.

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News developments

UAE: Launches Blue Visa

21/02/202521/02/2025
by Tanya Jain

Khaleej Times, 12 February 2025: The UAE has initiated the first phase of the Blue Visa, unveiling the specifics of this ten-year residency permit at the World Governments Summit 2025.

This innovative visa is aimed at individuals who have significantly contributed to environmental protection and sustainability, both within the UAE and globally.

In this initial phase, twenty sustainability thought leaders and innovators will be awarded the Blue Visa, as announced by the Ministry of Climate Change and Environment and the Federal Authority for Identity, Citizenship, Customs and Ports Security (ICP).

The Blue Visa is designed to recognise and support those actively engaged in environmental action.

It is available to members of international organisations, global companies, associations, non-governmental organisations, as well as global award winners and distinguished activists and researchers in the field of environmental work.

This initiative is an extension of the UAE’s Golden and Green Residencies, which were introduced earlier to attract exceptional talent to the country.

To apply for the Blue Visa, interested sustainability advocates and experts can either apply directly to the ICP or be nominated by relevant authorities within the UAE.

The first phase of the application process is conducted electronically, allowing for the submission of applications through government agencies involved in sustainability sectors, following the procedures outlined on the ICP’s website.

The ICP ensures 24/7 access to the Blue Visa service for eligible individuals via its website and mobile application, complying to the approved terms and conditions.

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News developments

Sharjah: Imposes 20% Tax on Natural Resource Companies

21/02/202521/02/2025
by Tanya Jain

Khaleej Times, 13 February 2025: Sharjah has introduced a new law imposing a 20% corporate tax on companies involved in both extractive and non-extractive natural resource activities.

Extractive companies, which focus on the extraction of raw materials such as oil, metals, minerals, and aggregates, will be taxed based on their taxable base.

This base is determined by the total share of the company from the value of produced oil and gas, following specific agreements with the Sharjah Oil Department.

Additionally, royalties, bonuses, and annual rents for concession areas will be calculated according to these agreements.

Non-extractive companies, which handle the separation, treatment, refinement, processing, storing, transporting, marketing, or distribution of natural resources, will also face a 20% tax.

Their taxable base is calculated from net taxable profits, with adjustments for asset depreciation and tax losses.

Depreciation of non-current assets is set at 20% annually, and tax losses can be carried forward to future periods.

Compliance with this tax law is essential for renewing concession rights or commercial licenses in Sharjah.

Companies must maintain accurate records and supporting documents for seven years.

A financial penalty of 5% of the total due tax will be imposed for intentional tax evasion violations.

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