News developments Archives - Page 209 of 239

The Qatar Financial Centre Issues new Rules to Regulate FinTech Service Providers

30/09/201911/12/2019
by Benjamin Filaferro

The Qatar Financial Centre has announced it has issued new rules and guidance to regulate FinTech service providers in the country. Under the new rules and guidance, non-regulated professional service firm activities have been expanded to cover FinTech Services Provider activities. This will include activities like providing cybersecurity solutions, application programming interfaces cloud computing, developing blockchain-based technologies, Artificial Intelligence and companies who provide a platform for facilitating real-time transaction capability of internet connected devices. It comes as Qatar looks to develop its FinTech environment and is part of the Centre’s FinTech strategy.

Bahrain: Meeting of the Parliamentary Committee Investigating non-Bahrainisation of Jobs

23/09/201911/12/2019
by Benjamin Filaferro

In common with other GCC states, Bahrainisation efforts have been under scrutiny as a parliamentary committee which has been put in charge of investigating non-Bahrainisation of jobs in the public and private sector held a meeting. The issue was raised after it was found the Ministry of Information had 70% of Bahraini staff with temporary contracts. There was a pledge to take action after there had been issues as a result of a number of national employees opting for the Voluntary Retirement Programme. The committee asked that the Ministry include Bahrainisation rates as a contract term when signing agreements with private companies and take this matter into consideration when awarding tenders.

Qatar: New Anti-Money Laundering and Terrorism Financing Law Issued

23/09/201911/12/2019
by Benjamin Filaferro

The Emir of Qatar has issued Qatar Law No. 20/2019 on Anti-Money Laundering and Terrorism Financing, replacing Qatar Law No. 4/2010. The law is to be implemented from the day following its publication in the Official Gazette. The Qatari Central Bank has said the new law complies with recommendations from the Financial Action Task Force (FATF) by setting binding legal requirements for businesses and the financial sector on combatting money laundering and terrorist financing, including non-profit organisations and money transfer services. Those who violate the law will face fines and imprisonment. The law requires the “widest possible cooperation and exchange of financial information” with foreign counterparts. Qatar has already signed a relevant memorandum of understanding with the United States.

Kuwait: Controls to be Tightened over Markets and Ban Imports of Somali Coal

23/09/201911/12/2019
by Benjamin Filaferro

Kuwait’s Ministry of Commerce and Industry has brought to the attention of relevant officials to tighten control over markets and ban imports of Somali coal. The moves is as a result of fearsmoney earned from coal export in Somali may be indirectly used in financing terrorist activities. The ministry had received a letter from the United Nations on this subject. The steps have been taken as part of the United Nation’s work to remove financial resources which support crime.

Qatar: E-Signatures Authorised for Sick Leave Certificates

14/09/201911/12/2019
by Benjamin Filaferro

In Qatar, sick leave certificates issued by Hamad Medical Corp (HMC) and the Primary Health Care Corp (PHCC) have been changed and will no longer require the signature of the physician or e stamp of the health facility which issued them. Instead the certificates will be issued electronically with an e-signature and barcode. The system will be implemented initially at government health facilities only. Private health facilities, will continue to issue sick leave certificates which are signed and stamped in the usual way. These certificates could be issued to HMC and PHCC employees, students and employees of all organisations and entities.

Bahrain: Deputy King Instructs Change on Utility Bills

14/09/201911/12/2019
by Benjamin Filaferro

Bahrain’s Deputy King has directed EWA to continue reissuing water and electricity bills for Bahraini citizens at their primary residence account. He has also instructed government departments to ensure the accuracy of services provided. As a result bills will be issued in September, October and November based on last year’s bill if that is lower. The Directive was given as the Deputy King met with the National Audit Office where a report on the accuracy of bills for the previous three months was presented. Recalculations of bills at that time were needed. The Deputy King has also directed EWA to reform its billing system.

Oman: Employers Told to Use E-Visa Scheme

13/09/201911/12/2019
by Benjamin Filaferro

The Royal Oman Police (ROP) has launched a nationwide awareness campaign to educate businesses on the benefits of registering their workers through the e-visa system. According to ROP officials, the work e-visa will be launched soon. There will be no need for those who apply for the e-visa to visit service outlets at the Directorate General of Passports and Residence. To sign up for an e-visa, visit www.evisa.rop.gov.com

Saudi Arabia: New Saudi Visa Scheme on the Way

07/09/201911/12/2019
by Benjamin Filaferro

According to Okaz Saudi Arabia is putting the final touches to a “game changing” initiative to attract international tourists, with a visa scheme which will allow visitors to come to the Kingdom from up to 50 countries. Although not officially confirmed a government an event to showcase Saudi tourist attractions is to take place on 27 September and it is expected the formal launch will happen then. According to Okaz the visas will cost 440 Riyals and last 90-days. It has also been said tourists will be able to apply for these visas online or on arrival in the country.

Oman: MoCI to Implement Specifications on Cosmetics and Personal Care Products

07/09/201911/12/2019
by Benjamin Filaferro

Oman’s Ministry of Commerce and Industry (MoCI) will start to implement the GSO 1943/2016 specification on cosmetics and personal care products as an Omani specification, by the end of January 2020. The specification will come into effect at the end of the six-month period that was previously granted after the issue of Oman Ministerial Decision No 128/2019 on the same specification on 28 July 2019. Shaima bint Khamees al Baluchi, a chemical products quality control specialist at the Directorate General of Standards and Specifications at MoCI, has said the decision has resulted from the increase in manufacturing and importing of cosmetics and personal care products in the country. The aim is to make sure all these products are safe for human use. The specification will require a number of criteria to be followed to ensure the safety of beauty, cosmetics and personal care products. It has also been stated the properties of products should not change while they are in storage or while in use, and they should be labelled to show all ingredients they contain.

Nurseries Department to be Established in the Kuwait Ministry of Social Affairs

07/09/201911/12/2019
by Benjamin Filaferro

Kuwait’s Social Affairs Ministry has announced a new Nurseries department will be established in the Ministry to manage and deal with the burgeoning number of nurseries in the country. The Deputy Undersecretary of Social Development and Secretary General of the Supreme Council of Family Affairs has said no new licenses will be issued until the new department is established. In addition, when a new license is issued new rules will be added or amended. A Ministerial Decision to this effect has recently been issued and was approved by the Civil Service Committee. Originally the Education Ministry was going to have responsibility for nurseries under a Decision but this was rejected. Under the new Decision, the Mother and Childhood Department will be replaced.