Newsletter Archives - Page 227 of 250 - LexisNexis Middle East

Bahrain: Tougher Utility Penalties Announced

12/08/201811/12/2019
by Benjamin Filaferro

Bahrain’s King has issued a Law adding a new Article 6 Bis to Bahrain Decree-Law No 1/1996 regarding electricity and water. The new article imposes fines up to 1,000 Dinars on those who erect electrical wiring extensions without the appropriate licenses or who don’t comply with the relevant safety requirements. Repeat violators will be jailed for up to three months and/or fined up to 2,000 Dinars. The Prime Minister and other Ministers will implement the Law and it will come into force on the day following its published date in the Official Gazette.

Weekly Spotlight: Egyptian Draft Data Protection Law Approved

12/08/201811/12/2019
by Benjamin Filaferro

This week the spotlight is on legal and regulatory developments in Egypt, where the Cabinet has approved a draft law to protect personal data, electronically processed in whole or in part by any holder, controller or processor. The law applies to Egyptians inside or outside the country, non-Egyptians living in Egypt and non-Egyptians outside of Egypt who carry out an act punishable in the State where it was signed. The law will impose obligations on controllers and processors with regards to the electronic processing of personal data, to ensure the rights of citizens and compliance with international legislation in this area.

Under the proposed law, personal data may not be collected, processed or disclosed by any means except with the consent of the relevant person or in cases authorised by law. The relevant person will have the right to access and obtain their own personal data. Penalties include jail terms of at least one year and/or a fine of up to 100,000 to 1,000,000 Egyptian Pounds. Those disclosing or making personal data available by any means other than those authorised by law or without the consent of the relevant person will face the same penalties. A Centre for Personal Data Protection in the Information Technology Industry Development Agency will be established and the employees will be appointed by a Ministerial Decision following a proposal from the competent minister. The Centre will formulate and develop policies, strategic plans and programmes to protect data and implement the relevant decisions, controls, measures, procedures and standards for data protection.

Saudi Arabia: Draft Pharmacies Law Under Consideration

05/08/201811/12/2019
by Benjamin Filaferro

A draft pharmacies law is under consideration according to the Director for Legal Affairs at the Saudi Food and Drug Authority. Under the proposed law, there will need to be at least 1000 metres distance in each direction between two pharmacies. Each company will only be allowed to own 30 pharmacies and individual pharmacists will be able to own up to five pharmacies. The online sale of medicines and unauthorised selling of medical and herbal products will also be banned. Licenses issued for medical or herbal products will be valid for five years but will be renewable. There are also provisions on pharmaceutical factories. The technical director of a factory will have to be a full time Saudi pharmacist and have the appropriate qualifications. The Authority will conduct regular inspections and will also review medicine prices every five years. They will destroy any illegal products and issue appropriate penalties. This includes jailing violators for up to 10 years, fining them up to 10 million Riyals and if the person is a non-Saudi, deporting them. The Authority will also be able to revoke licenses and prevent individuals from working in the pharmaceutical industry.

New Decree Amending Bahrain Law No 21/1989 – on Associations, Social and Cultural Clubs, Special Committees Working in the Field of Youth and Sports and Private Institutions

05/08/201811/12/2019
by Benjamin Filaferro

Bahrain’s King has issued a Decree amending Article 43 of the Law of Associations, Social and Cultural Clubs, Special Committees Working in the Field of Youth and Sports and Private Institutions (Bahrain Law No. 21/1989). The amendment reverses a previous amendment to the Law by allowing a member of the board of directors to enjoy all civil and political rights. The Decree amends the law to state no candidate for the Board of Directors of these organisations may belong to any political association. It also prohibits membership of more than one club or sports association. The changes will come into effect from the date of publication in the Official Gazette.

Weekly Spotlight: New Trademark Application Procedures in the UAE

05/08/201811/12/2019
by Benjamin Filaferro

This week the spotlight is on intellectual property developments in the UAE where the Trademarks Department in the Economy Ministry has issued an administrative decision regarding trademark application procedures.

The Decision stipulates that as applications are now filed online, it will no longer be possible to request an amendment for an application after it has been submitted, except for corrections to the agent-on-record details, provided a proper power of attorney has been filed. In case an application contains the wrong information with respect to international classification number, list of goods and services, missing documents, or any other aspect, the examination section will issue an office action against these applications, and applicants (or their representatives) cannot amend applications before examination.

New Bahraini Health Insurance Law Imposes a Universal Health Insurance Mandate Beginning in 2019

29/07/201811/12/2019
by Benjamin Filaferro

The Bahraini Government has issued a new law mandating health insurance coverage must be provided to all citizens, residents and visitors in the country. Proof of insurance is expected to be compulsory for the issuing and renewal of employment and residence permits in January 2019, when the law will come into force. The mandatory health insurance will be funded through the payment of an insurance subscription, covering benefits which are set out in a package relevant to each category of an insured person (e.g.: citizens’ package, residents’ package, etc). Subscriptions for citizens will be paid by the Bahraini Government. Employers will need to enrol foreign national workers (and their dependents, if this is stated in the employment contract). Enrolment for visitors will be covered by the visitors themselves. A list of approved health insurance providers is yet to be published.

Abu Dhabi Global Market Launches Private Financing Platforms Consultation

29/07/201811/12/2019
by Benjamin Filaferro

Abu Dhabi’s Global Market Financial Services Regulatory Authority has launched a consultation on its proposed regulatory framework for Private Financing Platform (PFP) operators. The consultation ends on 16 August 2018. PFPs are online platforms which enable private enterprises to seek financing from private and institutional investors to launch and grow their businesses. The proposals include creating a new Regulated Activity of Operating a Private Financing Platform which allows loan-based and investment-based PFP transactions. Loans or investments may be held directly by lenders or investors or indirectly through a special purpose vehicle (SPV). The PFP Framework will be supported by the range of SPVs available in the Global Market which will offer flexibility in various financing, securitisation and asset transfer options. The participation in PFP transactions is aimed at Professional Clients given the higher risks associated with these transactions. The Authority may allow PFP operators to serve Retail Clients, subject to the PFP operator putting appropriate safeguards commensurate with the nature and scale of the PFP operator’s business in place.

Weekly Spotlight: UAE Illegal Immigrant Amnesty to Start on 1 August 2018

29/07/201811/12/2019
by Benjamin Filaferro

This week the spotlight is on immigration developments in the UAE where the Federal Authority for Identity and Citizenship has announced the amnesty for illegal residents in the United Arab Emirates will last for three months, starting 1 August 2018.

The ‘Protect Yourself by Modifying Your Status’ initiative will allow foreign nationals to regularise their status by either leaving the UAE without paying a fine and without facing a return immigration ban (only those who entered illegally will be subject to a two-year entry ban), or by changing their sponsorship inside the country. Those who decide to leave will be issued an exit permit valid for ten days, whereas those who wish to remain in the UAE will have to provide documents from their new sponsor before a residence visa can be granted. Those without a confirmed job offer will be given a six-month temporary residence status to secure new employment in the UAE under the supervision of the Human Resources and Emiratisation Ministry. It is not yet clear how the unemployed foreign nationals will be able to fill up the available positions. Nine service centres are established across the country to assist individuals with the application process, in addition to a toll-free number 800-80 for phone inquiries.

Weekly Spotlight: Bahraini Personal Data Protection Law Approved

22/07/201811/12/2019
by Benjamin Filaferro

This week the spotlight is on legal and regulatory developments in Bahrain where the King has approved the Protection of Personal Data Law. Bahrain Law No. 30/2018 sets out the responsibilities of the Personal Data Protection Authority. A Decree is to be issued to specify the administrative aspects of the Authority and establish its Board of Directors. Those found to access, disseminate, leak, or tamper with personal information will be jailed for up to one year, fined 1,000 to 20,000 Dinars, or both. Those receiving a bribe in relation to falsified information will be fined 3,000 to 20,000 Dinars.

The Authority’s Board of Directors will issue the necessary decisions to implement the law within six months of its publication in the Official Gazette. The law will come into effect one month following its publication in the Official Gazette.

Qatar: Anti-money Laundering Guidelines Issued

22/07/201811/12/2019
by Benjamin Filaferro

Qatar’s Central Bank, Financial Markets Authority and Financial Centre Regulatory Authority have announced they have each issued guidelines to their financial institutions addressing critical areas of compliance with their anti-money laundering and anti-terrorist financing rules and requirements. The guidelines were prepared collectively by the regulators and aim to provide clear and consistent guidance to all relevant financial institutions regarding the steps required to comply with certain critical aspects of the different regulatory rules in these areas. The new guidelines specifically deliver detailed guidance for all financial institutions in these areas in terms of customer due diligence, correspondent banking, reliance on third parties, high risk jurisdictions, beneficial ownership issues and legal entity transparency. They also provide guidance on the regulators’ expectations for the risk-based systems and controls financial institutions are required to implement to tackle money laundering and anti-terrorist financing.