News developments Archives - Page 13 of 223

Oman: Professional Licenses Required for Logistics Work

25/07/202525/07/2025
by Hannah Gutang

Oman Daily Observer, 22 July 2025: As part of efforts to regulate the labour market and ensure that professions are practiced according to approved professional standards, the Ministry of Labour has announced that there will be a mandatory requirement to obtain a Professional Practice License for all designated professions in the logistics sector, from 1 September 2025.

These will include truck driver, tractor-trailer driver, water tank driver, waste transport driver, food delivery person and food delivery supervisor.

The requirement will apply to both Omani and expatriate drivers and across various sectors.

The professional practice licenses will be available from the sectoral skills unit for the logistics sector. Applications should be submitted via the skills unit’s website. No work permit will be issued or renewed for these occupations after the deadline without this certification.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Kuwait: MoUs on Money Laundering Signed

25/07/202525/07/2025
by Hannah Gutang

Kuwait Times, 20 July 2025: The Kuwait Interior Ministry Department for combatting money laundering and terrorist financing and the customs office have signed a memorandum of understanding to enhance cooperation on the fight against financial crimes.

The two departments will increase mutual operation and sharing of information in line with international standards set by the UN Financial Action Task Force (FATF). The MOU also aims to intensify regulatory procedures to support the national system for reducing financial crime. In addition, the Kuwait Capital Markets Authority (CMA) and the Financial Intelligence Unit (FIU) have also signed a separate MOU on cooperation and information exchange on money laundering. This will impact the scope of information the FIU and CMA can provide to each other.

Amendments to Kuwait Law No. 106/2013 (the money laundering law) in June 2025 now allow the Kuwaiti Cabinet to issue decisions to implement resolutions passed by the UN Security Council on financing terrorism and freezing assets, and to impose hefty fines on violators. In a report in June 2025, FATF had stated gaps in the legal system in Kuwait did make it difficult to free assets in these situations.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Dubai: New Law on Housing Contract Disputes

25/07/202525/07/2025
by Hannah Gutang

Khaleej Times, 21 July 2025: A new law has been issued which focuses on resolving disputes involving housing building contracts with nationals in Dubai.

The new law will come into force on 1 January 2026 and will introduce a dedicated legal framework to swiftly and efficiently handle disagreements, without disrupting the progress of housing development projects. There will be a new alternative dispute resolution system for construction projects, which will protect all parties’ rights. Amicable and consensual solutions will be promoted. The aim will be to ensure construction work continues even where there are disagreements.

The Centre for Amicable Settlement of Disputes will set up a new specialist section to cover this area. First there will be mediation, which will be concluded in 20 days, although it will be possible to extend this for up to 20 more days if both parties agree.

If mediation fails, the case can then be referred to a special committee made up of one judge and two industry experts. This committee must issue a decision within 30 days – although a 30-day extension is possible. Parties will have the right to appeal to the court of first instance within 30 days of that decision.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Bahrain: New First Aid Requirements for All Workplaces

25/07/202525/07/2025
by Hannah Gutang

Bahrain Daily Tribune, 20 July 2025: All workplaces in Bahrain must now have first-aid trained staff present under new Health Ministry Rules.

The rules have been issued in Bahrain Ministerial Decision No. 16/2025. They cover employers across the private sector. Each individual site must be ready to deal with emergencies, and help must be called if someone falls ill or is injured at work.

One trained first aid person is needed for every 20 workers, and their name must be kept in a log on-site. They must hold a recognised certificate showing they have completed at least one course in first aid. In addition, another employee must be named to check supplies and liaise with inspectors. Workplaces must also have first aid boxes with all the items listed in the Ministerial Order. These must be easy to find and checked regularly to ensure all the items are usable. One box is needed for up to every 100 workers. Employers must also ensure they have a plan for emergencies, which should include ambulance contacts, maps showing the nearest clinic and exit layouts. These rules replace those issued in 1976. Those who breach these rules may be prosecuted under Article 192 of Bahrain Law No. 36/2012 or Article 129 of Bahrain Law No. 34/2018.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Abu Dhabi: Digital Currency Payments for Court Fees

25/07/202525/07/2025
by Hannah Gutang

Khaleej Times, 21 July 2025: The Abu Dhabi Judicial Department (ADJD) becomes the first government entity in the Middle East to officially accept the AE Coin for judicial and legal service fees.

This means court fees can be paid in digital currency.

Under a strategic partnership agreement signed with the Al Maryah Bank court users can pay for a wide range of judicial service using AE Coin which is a stablecoin regulated by the UAE Central Bank — via the AEC Wallet. This offers a secure, fully digital, and rapid alternative to traditional payment methods.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

UAE: Market Regulator Introduces New Goodwill Valuation Rules for Listed Companies

18/07/202518/07/2025
by Hannah Gutang

Gulf News, 14 July 2025: The UAE Securities & Commodities Authority (SCA) has approved new regulations governing how listed companies must account for goodwill in mergers and acquisitions.

The regulatory framework establishes specific valuation principles for goodwill—the premium paid above a company’s net asset value during an acquisition. Under the rules, goodwill can only be recognised when a company is acquired and cannot be created internally.

The new regulations, which classify goodwill as an intangible asset, will affect all publicly listed UAE companies involved in mergers and acquisitions. Several companies, including Gulf Navigation, Multiple Group, and Emirates Driving, have recently been active in corporate acquisitions.

This measure follows recent SCA regulatory initiatives, including new frameworks for social media financial influencers and robo-adviser funds. The authority’s board has also reviewed the implementation of its recently launched financial influencer registration programme.

The regulations require boards of directors, audit committees, and external auditors to follow specific guidelines for goodwill valuation and disclosure to investors.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Saudi Arabia: Cabinet Approves New Social Bank Financing Programme

18/07/202518/07/2025
by Hannah Gutang

Saudi Gazette, 9 July 2025: The Saudi Cabinet has approved a new programme enabling the Social Development Bank to sponsor vulnerable citizens seeking access to financial products.

The initiative will help qualifying individuals obtain financing from either the Social Development Bank or other financial institutions. This marks an expansion of the bank’s existing services, which have already provided SR160 billion (£34 billion) in cumulative financing to over 10 million beneficiaries.

Key aspects of the programme include:

Direct sponsorship for vulnerable citizens
Access to financing products from multiple providers
Integration with existing bank services
Support for both individual and business financing

The Social Development Bank will now develop and implement detailed procedures for the new sponsorship scheme. This follows the bank’s established role in providing specialised financing solutions across Saudi Arabia.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Qatar: Cabinet Approves New School Staff Benefits and Pension Rights

18/07/202518/07/2025
by Hannah Gutang

Al Sharq, 15 July 2025: Qatar’s Council of Ministers has issued Qatar Decision No. 23/2025, amending employment regulations for government school staff and addressing ongoing pension reform concerns.

The new decision repeals Article 14 of Qatar Decision No. 32/2019, which previously excluded certain allowances and bonuses from gross salary calculations during leave periods for school employees.

This latest amendment follows the implementation of Qatar Law No. 1/2022 on Issuing the Social Insurance Law, which replaced the previous pension legislation (Qatar Law No. 24/2002). However, the new regulations maintain existing limitations regarding end-of-service benefits calculations for the first 20 years of service.

Key changes include:

Full inclusion of allowances and bonuses in gross salary calculations during leave periods
Updated pension calculation methods
Revised employment benefits for education sector staff.

The pension fund maintains its position that it bears no responsibility for service periods prior to its establishment in 2002, despite ongoing discussions about end-of-service benefit calculations for longer-serving employees.

For the full story, click here.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Oman: Details Protected Sectors Off-Limits to Foreign Investment

18/07/202518/07/2025
by Hannah Gutang

Times Of Oman, 12 July 2025: Oman has outlined specific economic sectors that remain exclusively reserved for national investors, whilst maintaining its open-door policy for foreign investment across most of the economy, according to legal experts.

A representative from the Law Firm detailed the comprehensive list of protected activities that foreign investors cannot enter under recent Ministerial Decisions.

The restricted sectors include the manufacture and retail of traditional Omani products such as halwa, traditional headwear (kummah), daggers (khanjars), and traditional textiles. Craft production using materials like leather, wood, silver, and pottery is also reserved for Omani nationals.

The protection extends to various service sectors, with foreign investment prohibited in areas including Arabian clothing tailoring, specific vehicle repair services, driving schools, and basic retail operations such as grocery shops and fresh produce sales.

Additional restrictions apply to labour recruitment, real estate brokerage, customs clearance, and certain transport services. Recent amendments have further expanded the protected list to include mobile coffee shops, skin care services, plant nurseries, and event supply rentals.

It’s also noted that existing foreign investments in newly restricted sectors may continue operating but cannot be transferred to new foreign owners without ministerial approval.

Outside these protected areas, Oman continues to welcome foreign investment through its Foreign Capital Investment Law, offering investors benefits including tax incentives and land access options through the Investment Services Centre.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.

Kuwait: Launches New Phase of Capital Market Reforms

18/07/202518/07/2025
by Hannah Gutang

Kuwait Times, 12 July 2025: Kuwait’s Capital Markets Authority (CMA) has implemented the second part of phase three of its Capital Market System Development Program, introducing significant changes to the country’s financial infrastructure.

Under Kuwait Decision No. 101/2025, Kuwait Clearing Company has become the country’s first licensed central broker, marking a key milestone in implementing Kuwait Law No. 7/2010.

Ten brokerage firms have been upgraded to “Qualified Broker” status, expanding their capacity to offer financial services. The CMA has also developed and tested new technical systems for bonds, sukuk, and ETF indices trading.

The reforms include the introduction of sub-account numbers within consolidated accounts for both investment and electronic portfolios, enhancing market supervision capabilities at Boursa Kuwait.

The authority has completed preparations for cash settlements through the Central Bank of Kuwait system and settlement banks, while establishing a financial collateral chain.

These changes follow Kuwait Decision No. 101/2025, which required the CMA to issue new licenses and implement regulatory adjustments. Draft amendments to the executive regulations of Kuwait Law No. 7/2010 have been prepared to accommodate new financial products in the market.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.