News developments Archives - Page 187 of 223

Oman: Foreign Investment Law Exemptions Announced

22/02/202021/02/2020
by Benjamin Filaferro

The Omani authorities have announced small businesses have been exempted from 100% foreign ownership under the Sultanate’s Foreign Investment Law. Businesses which are included are translations, photocopying, tailoring, laundry, vehicle repairs, transporting and selling drinking water. It also covers manpower and recruitment services, hairdressing and salon services, taxi services, driving instructions, fishing and rehabilitation homes for the elderly, disabled and orphans. The aim is to make investing in the country more attractive but protect Oman’s small businesses.

Dubai: Online Service Being Used in Financial Status Cases

22/02/202021/02/2020
by Benjamin Filaferro

The Dubai Police’s online service which enables individuals to check their status when a financial case has been registered against them has been used by 57,483 people. The service was initially launched in 2018 and allows people to log on to the Dubai Police website or download the Dubai Police e-app, using a valid Emirates ID to use the service. They can then quickly get information on their case status, including checking if a travel ban has been issued against them. The online service can be used free of charge. The Dubai Police are also understood to be studying the possibility of adding an option for customers to pay up their debts and resolve their cases faster via the online route and have been working with the Dubai Court service on this. The new option will allow people to pay up the full or partial amount to the individual or company which made the complaint to reach a settlement.

Bahrain: Two New offices to File Labour Complaints

22/02/202021/02/2020
by Benjamin Filaferro

Bahrain’s Labour Market Regulatory Authority have announced labour complaints can now be filed at two new offices. They will be based at the Labour Claims Departments at the Expatriate Protection Centre in Sehla and the Labour Market Regulatory Authority branch in Riffa will register all labour-related disputes, including non-payment of wages. However, the offices will not deal with existing cases. They will be open five days a week from 8am to 4pm. The complainant will be given a case number and a court hearing date as soon as the grievance is recorded. The aim is to speed up the registration of labour disputes.

Qatar: Industrial Licenses and Land to Become Easier to Obtain

21/02/202021/02/2020
by Benjamin Filaferro

Investors in Qatar will be able to apply through the Single Window platform at the Ministry of Commerce and Industry to secure industrial licences and plots of land in the Small and Medium Industrial Area and complete financing procedures via the same application. The Ministry of Commerce and Industry (MoCI) together with Qatar Development Bank has launched the Land and Industrial Loan initiative to enable this. Investors will fill out and submit the application electronically through the Single Window Services website on singlewindow.gov.qa. They will also provide all the required documents (a complete feasibility study, the engineering plan and a copy of audited financial accounts) and any other documents which may be requested during the application review period. After submitting the application and the required documents, a technical team from the Ministry and QDB will review the application and there will then be an application review by the Land Commission.

Kuwait: Right to View Law Vote Soon

15/02/202013/02/2020
by Benjamin Filaferro

The Chairman of the Legislative Committee of Kuwait’s National Assembly has announced MPs will be voting on the draft right to view law next week. They said the law will enable nationals and residents as well as local and civil companies to view all information transparently. Some information like military and security matters will remain classified. The law has been thoroughly discussed with the Justice Minister, Waqf and Islamic Affairs Minister as well as other relevant departments.

Saudi Arabia: Supreme Judicial Council Approves Corruption Case Procedures

15/02/202013/02/2020
by Benjamin Filaferro

Saudi Arabia’s Supreme Judicial Council has approved a number of procedures necessary for the departments responsible for considering cases related to financial and administrative corruption. The procedures are aimed at reflecting recently issued relevant regulations. They also directed 81 judges to work in these courts and support the appeal courts and courts of first instance. In addition, the Council is considering increasing the number of labour tribunals in the courts and allocating departments to consider human trafficking cases.

Bahrain: Companies Law Amendment Approved

15/02/202013/02/2020
by Benjamin Filaferro

Bahrain’s Shoura Council has approved a draft law to amend Article 284(A) of Bahrain Decree-Law No. 21/2001 (the Commercial Companies Law). It covers an agent’s attendance at general assembly meetings of joint-stock companies and will allow representatives to attend on behalf of shareholders or partners if they have written authorisation. The Chairman of the Council’s Financial and Economic Affairs Committee said the amendment will give powers of attorney to representatives while they attend the assembly. The move is aimed at improving transparency and help avoid conflicts of interest.

Qatar: Universities to be Accredited by Education Ministry

13/02/202013/02/2020
by Benjamin Filaferro

Qatar’s Education and Higher Education Ministry will soon be responsible for accrediting universities. The Ministry is going to launch a quality control and accreditation programme for all of the country’s universities. It hasn’t yet decided whether it will be undertaken by the Ministry itself outsourced to other organisations abroad. Alternatively the universities may carry out self-assessment and submit these to the Ministry who will then assess these reports. A new private Lusail University is also going to be established by next year and an Indian University is going to be up and running by the end of the year. The aim is to ensure standardisation in the sector.

UAE: Insurance Policies Cover Contagious and Viral Diseases

08/02/202007/02/2020
by Benjamin Filaferro

The UAE’s Insurance Authority has confirmed all insurance policies cover contagious, communicable, and viral diseases unless otherwise stated. The Authority added these basic insurance policies usually exclude epidemics provided there is an official announcement confirming the disease is a result of a communicable or contagious disease. The Authority went on to say the authorities in the country didn’t announce Corona is an epidemic and so insurance companies are still responsible for covering the necessary insurance for offering health services for individuals covered by these insurance policies.

Saudi Arabia: Bankruptcy Officials Can Access Bank Statements

08/02/202007/02/2020
by Benjamin Filaferro

Saudi Arabia’s Monetary Agency has issued a Decision to local banks informing them officials responsible for investigating bankruptcy should be given access to check bank accounts under the Bankruptcy Law and its Implementing Regulations. The Decision was issued after a request from the Justice Ministry to fulfil the requests made by courts responsible for considering bankruptcy cases. The Decision says banks should adhere to the law and should allow officials to obtain the details and follow the necessary procedures related to bank accounts of indebted individuals such as bank statements and enquiries related to their accounts.