Newsletter Archives - Page 210 of 244 - LexisNexis Middle East

Weekly Spotlight: Saudi Arabia Launches the “Najiz” Online Portal

28/04/201911/12/2019
by Benjamin Filaferro

The Saudi Justice Minister Dr. Walid Al-Samaani has launched the ‘Najiz’ online portal which will cover 177 first instance courts in all regions of the Kingdom.

The portal is part of efforts to unify judicial proceedings, enable digital transformation to the judiciary and speed up the litigation process. It was set after restructuring of procedures were adopted in all Saudi courts and a new judicial procedure system document was issued and digitized.

The portal is being considered a step towards a full digital transformation in all sectors. A service called ‘appeal without transcript’ has been introduced which enables first instance courts to send a case file to the court of appeal electronically in just a few minutes, and automatically receive the court’s reply. Task forces have also been formed to carry out the proceedings of the courts and compare them to legal proceedings, criminal court proceedings and related regulations, and proceedings in other countries.

The portal will be rolled out in four stages, and there will further updates to facilitate services.

The UAE at the Forefront of the National Artificial Intelligence Strategy 2031

27/04/201911/12/2019
by Benjamin Filaferro

The UAE Cabinet has approved an eight point strategy which aims at putting the country at the forefront of global efforts to develop artificial intelligence, called the National Artificial Intelligence Strategy 2031. The strategy covers areas including reaffirming the UAE’s position as a global artificial intelligence (AI) hub, employing AI in customer services and recruiting and training people to work in fields which will be driven by the technology in the future. The first phase of the strategy will focus on areas such as healthcare, cyber security, logistics and transportation and tourism and hospitality. In March 2018, the UAE Cabinet formed a council for artificial intelligence to oversee AI integration in government

Kuwait: Expatriates to be Exempted from the Visa Transfer Ban

27/04/201911/12/2019
by Benjamin Filaferro

Kuwait Manpower Authority officials have announced the Authority is exempting expatriates from the visa transfer ban. However, the exemption will only apply if the expatriate employee initially transferred to a small company locally and then transferred their residency from a small project to the private sector. It does not apply to other expatriates.

Bahrain: Draft Insurance Aggregator Rules Issued

27/04/201911/12/2019
by Benjamin Filaferro

Bahrain’s Central Bank has announced it has issued draft insurance aggregator rules. Insurance aggregators are intermediaries with an insurance broker’s license who operate an online platform, whether hosted on an Internet website or available as a smart device application which provides price comparisons and facilitates the purchase of insurance policies from several insurance licensees. By introducing insurance aggregators, customers will be able to find and choose insurance quotes from several insurance companies under a single electronic platform or mobile device application, instead of obtaining quotes individually and purchase insurance online from a single insurance company. The move is the first step towards Insuretech which is a technology-led transformation of the insurance sector. Copies of the directive are available on the Central Bank Website.

Weekly Spotlight: ADGM Courts Issue Litigation Funding Rules

21/04/201911/12/2019
by Benjamin Filaferro

Abu Dhabi Global Market’s Courts have issued the Litigation Funding Rules. They have come into effect immediately. They are the first of their kind in the region and are designed to provide parties and funders with greater certainty on the enforceability of funding arrangements in proceedings for resolving disputes.

They have been issued following growing interest in third party funding of parties to manage their litigation and arbitration proceedings. Amongst other things, the Rules state a Funder’s principal business must be in funding proceedings to which the Funder is not a party and the Funder must have qualifying assets of at least $5 million. In addition, the Litigation Funding Agreement must contain some minimum terms including to ensure there are no conflicts of interest, the Funder’s involvement in the settlement of proceedings and the Funder’s obligations about dealings with lawyers.

Updated anti-money laundering rules are also now in force in the Global Market as well. It comes ahead of an assessment of the UAE by the Financial Action Task Force this summer. The updated rules also cover anti-terrorist financing.

The Litigation Funding Rules are now available on Lexis Middle East : https://www.lexismiddleeast.com/regulatory/AbuDhabiGlobalMarket/ADGM_ADGM_Litigation_Funding_Rules_2019/

Kuwait CMA Holds Awareness Campaign for Launching Qualifications Exam Project

20/04/201911/12/2019
by Benjamin Filaferro

Kuwait’s Capital Market Authority has announced it is launching an awareness campaign for its qualifications examinations project for registered employment positions. The project is being launched with the Chartered Institute for Securities & Investment. The project will result in the Professional Qualifications Programme which the Authority will implement by 30 September 2019.

Bahrain: Draft Law to Regulate Hygiene Approved

20/04/201911/12/2019
by Benjamin Filaferro

Bahrain’s Shoura Council has approved a draft law to regulate hygiene, following Bahrain Royal Decree No. 86/2014. It will apply to waste and its transportation and disposal. It will also cover waste dumping and depositing waste in incorrect facilities. In addition, it will ban abandoning scrap vehicles on streets and leaving vehicles in public streets and squares to sell. Finally it will allow waste to only be transported by licensed companies and institutions.

Oman: Bank Resolution Framework Issued

20/04/201911/12/2019
by Benjamin Filaferro

Oman’s Central Bank has issued a Bank Resolution Framework which sets out the recovery and resolution regime for the Sultanate’s banking sector. It will apply to all banks who are designated as important domestic banks by the Central Bank. The Bank at its discretion may apply all or parts of the framework to any other bank licensed by it. The aim is to prepare banks for self-recovery and in the relevant circumstances allow the authorities to help them with minimal disruption to them and the wider banking sector and at the lowest possible cost.

Weekly Spotlight: The UAE Announces Changes to Guarantees System for Domestic Workers

14/04/201911/12/2019
by Benjamin Filaferro

UAE officials have announced changes to the country’s guarantees system for domestic workers. Under the changes, domestic workers will now be able to be replaced or the hiring fees fully or partially refunded within the two-year recruitment contract.

The guarantee for those domestic workers who are recruited through the Tadbeer system has been extended to two years, in line with the Implementing Regulations to the Domestic Workers’ Law. The Law had previously granted a six-month guarantee period during which time an employer could get their recruitment fees refunded or replace a worker.

Under the new rules full recruitment fees will be refunded or an employee is replaced as an employer may want during the first six month of the contract or the probationary period in the event of termination of the contract by an employee illegally, quitting without an acceptable reason, the employee being unfit or unable to carry out their duties as required and agreed on.

After the probationary period and up to the end of the recruitment contract, part of the recruitment fees will be refunded if an employee terminates the contract illegally or quits without an acceptable reason. The amount refunded will be calculated on the basis of the remaining period of the contract. Recruitment firms will have to refund the fees to an employer within a month of the date an employer returns an employee or reports their absence from work. Where an employer specifically named a domestic worker to be recruited and the recruiting firm hired them, no recruitment fees will be refunded.

Qatar Central Bank Issues Decision on Services of Supporting Insurance Providers

13/04/201911/12/2019
by Benjamin Filaferro

The Governor of Qatar’s Central Bank has issued a Decision on the instructions for licensing, organising and supervising the services of supporting insurance providers, in line with Qatar Law No. 13/2012. Qatar Decision No. 7/2019 came into force on 1 April 2019. Amongst other things, they establish a code of conduct for their operations and ensure insurance providers meet their obligations under the Decision. They also cover licensing procedures and the requirements to practice as an insurance provider. Those entities affected have to comply with the Decision and the relevant authorities have to implement the Decision.