Newsletter Archives - Page 27 of 243 - LexisNexis Middle East

Oman: New Postal Policy

06/03/202506/03/2025
by Hannah Gutang

Oman Observer, 2 March 2025: The Ministry of Transport, Communications and Information Technology has introduced a new policy and programme to regulate and modernise Oman’s growing postal sector.

Spanning from 2025 to 2029, the Postal Sector Policy and Executive Programme aims to enhance service quality and support related industries such as e-commerce, transport, and logistics.

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Kuwait: Eases Residency Transfers for Expats Between Public and Private Sectors

06/03/202506/03/2025
by Hannah Gutang

Arab Times, 2 March 2025: The Interior Ministry has announced the removal of previous conditions that restricted the transfer of residency between government and private sector employment.

This decision eliminates the need for expatriates to align their new job roles with their educational qualifications or the nature of their previous work when switching sectors.

Expatriates can now transfer their residency from government sector work to private sector work, and vice versa, without the previously mandated requirements.

The Expatriates’ Residency Law and its executive regulations do not require the verification of professions for individuals seeking to transfer between sectors, nor is there any legal basis for rejecting such requests.

Under the new rules, expatriates are no longer required to ensure that their educational qualifications match their new job roles or adhere to the nature of their previous government sector work.

This change simplifies the process, allowing expatriates to transition to the private sector with ease, following standard procedures and without the bureaucratic hurdles that previously complicated such transfers.

Previously, the transfer of residency was contingent on the new profession being compatible with the expatriate’s educational background and the nature of their prior government sector work.

This restriction limited opportunities for expatriates to explore roles in the private sector and often involved cumbersome administrative processes.

The new decision abolishes these constraints entirely.

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Bahrain: Launches Remote Notarisation Service

06/03/202506/03/2025
by Hannah Gutang

The Daily Tribune, 4 March 2025: The Justice, Islamic Affairs, and Endowments Ministry, in partnership with the Information and eGovernment Authority, has launched the Remote Notarisation Service in Bahrain.

This service, provided by private notaries, enables digital document certification, enhancing convenience and efficiency.

The remote notarisation service is accessible through the official website, https://notary.moj.gov.bh, and will initially be optional, gradually expanding to cover specific transaction types in its first phase.

Users are encouraged to register via the Government Notification System (Notices) on the National Portal, bahrain.bh, and keep their contact information updated for service access.

This initiative underscores the Ministry’s dedication to digital transformation, offering flexible solutions to meet the needs of the community, businesses, and investors.

It aims to save time and streamline notarisation and certification processes.

The service eliminates the need for in-person visits and paper-based transactions, utilising Blockchain technology for secure, immutable digital transactions.

It also supports electronic signatures through a One-Time Password (OTP), removing the necessity for handwritten signatures.

Users can inquire about and cancel their notarisation transactions as needed.

The introduction of this service is set to expand the private sector’s role in notarisation services, with the Ministry maintaining oversight and regulation of transactions conducted by licensed private notaries.

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Saudi Arabia: Banks Banned From using WhatsApp Communications

04/03/202504/03/2025
by Tanya Jain

The Saudi Central Bank (SAMA) has announced a ban on the use of instant messaging applications, such as WhatsApp, by local banks for customer communications, citing these platforms as unreliable. In response, the Central Bank has urged financial institutions to explore secure alternatives, such as integrating instant messaging services like Live Chat or ChatBot within their applications or websites, while ensuring compliance with personal data protection requirements.

Local banks have been instructed to implement these measures and educate their staff, including branch, customer service, and marketing employees, about the new guidelines, conducting necessary assessments to ensure compliance.

The Media and Awareness Committee at Saudi Banks has highlighted the prevalence of fraud cases involving impersonation of charitable organisations or public figures on social media.

Fraudsters deceive victims by pretending to represent official entities, using fake documents and seals to solicit fees for supposed financial assistance.

The committee has emphasised that legitimate organisations do not solicit donations or search for beneficiaries through social media or instant messaging platforms. Fraudsters often lure victims by falsely claiming they are entitled to donations or support from well-known charities, or by exploiting the names of legal entities, demanding fees through money transfers or payment links.

Customers are encouraged to use the secure SADAD system, available in all Saudi banks and banking applications, for official bill payments and service fees. In the event of fraud, immediate notification to the bank is crucial for recovery actions.

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Bahrain: Tightens Advertising Regulations

28/02/202528/02/2025
by Tanya Jain

The Daily Tribune, 26 February 2025: Bahrain is set to impose stricter penalties on misleading advertising, with a new government-drafted bill proposing fines of up to BD20,000 and potential jail time for offenders.

The legislation, currently under review by Parliament’s Public Utilities and Environment Committee, aims to eliminate harmful advertising practices and streamline the licensing process.

The bill seeks to amend Bahrain Law No. 14/1973, introducing tighter controls on advertising, particularly for roadside promotions and commercial displays overseen by the Municipalities Affairs Ministry.

Under the proposed regulations, violations such as advertising without a licence, breaching licence conditions, providing false information, or using unlawful means to secure a permit could result in jail terms or fines ranging from BD1,000 to BD20,000.

Additionally, obstructing ministry inspectors or concealing necessary records and documents would incur penalties.

Each infraction would be treated individually, with courts mandated to order the removal of unauthorised advertisements at the advertiser’s expense.

The bill defines advertising as any medium intended to inform the public or a specific group about a product, service, or offering, encompassing visual, audio, or illuminated adverts, as well as those made from materials like wood, metal, paper, fabric, plastic, or glass.

Advertisers would be required to obtain prior approval from the relevant authority before displaying content.

The ministry would have the authority to inspect advertisements and remove those that violate the rules, providing advertisers with at least 15 days’ notice before removal and requiring them to cover the cost of restoring the site.

The ministry could also revoke an advertising licence permanently or temporarily.

Penalties would apply to each offending advertisement, and anyone who removes, damages, or defaces a licensed advertisement, or any part of it, would face a separate fine of up to BD1,000.

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UAE: Launches Real-Time Price Monitoring for Essential Commodities

27/02/202527/02/2025
by Hannah Gutang

Khaleej Times, 20 February 2025: The UAE’s Economy Ministry has launched a digital platform to monitor the prices of nine essential commodities in real-time.

This initiative is designed to prevent unjustified price increases and ensure that any changes are pre-approved by the ministry.

The platform, known as the “National Digital Platform for Monitoring the Movement of Basic Commodity Prices,” allows for real-time tracking and verification of price fluctuations, ensuring they remain within established limits.

It covers cooperatives, hypermarkets, and large stores, which represent over 90% of the domestic trade in basic consumer goods across the UAE.

The Ministry has mandated that prices for cooking oil, eggs, dairy, rice, sugar, poultry, legumes, bread, and wheat cannot be increased without prior approval.

The platform uses advanced data collection and analysis tools to alert the Ministry’s control team and other relevant entities about any breaches of the price ceiling.

It also aims to detect monopolistic practices or price manipulation, featuring a map function to identify locations instantly.

This initiative is part of efforts to enhance regulatory oversight and ensure transparency in consumer goods pricing, thereby protecting consumers.

Inspections have been conducted at major hypermarkets to verify compliance with the new pricing policy, confirming that prices for the nine essential items are displayed according to guidelines.

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Saudi Arabia: SAMA Introduces New Financial Regulations for Foreign Entities

27/02/202527/02/2025
by Hannah Gutang

The Saudi Central Bank (SAMA) has introduced new regulations concerning Close-out Netting and Related Collateral Arrangements, now in effect for all financial institutions under its jurisdiction in Saudi Arabia.

These regulations are designed to manage netting agreements and financial collateral arrangements, particularly in scenarios involving bankruptcy proceedings.

The regulations enable financial institutions to quickly terminate, liquidate, and settle obligations in the event of a default, thereby reducing potential losses.

The netting process consolidates obligations into a single currency, determining a net balance owed between parties, which enhances risk management efficiency.

The regulations apply to specific qualified financial contracts, including currency and interest rate swaps, commodity swaps, forward rate agreements, credit derivatives, securities repurchase agreements, commodities contracts, and Shariah-compliant financial contracts like murabaha.

For foreign multibranch entities operating in Saudi Arabia, the regulations clearly define obligations under multibranch netting agreements, limiting liabilities and ensuring financial clarity in the event of a local branch bankruptcy.

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Qatar: General Tax Authority Launches 100% Financial Penalty Exemption Initiative

27/02/202527/02/2025
by Hannah Gutang

Qatar Tribune, 25 February 2025: The General Tax Authority has unveiled a 100% financial penalty exemption initiative.

Starting on 1 March 2025, the initiative will be available for six months, complying with the relevant rules and regulations.

To be eligible, companies must register on the “Dhareeba Tax Portal” and ensure all taxpayer information is current.

They must also submit all required tax returns and financial statements in line with regulations and commit to maintaining full compliance over the next three years (2026, 2027, and 2028) by timely submission of returns and payment of tax dues.

During the initiative, eligible businesses can apply for penalty exemptions via the Dhareeba Tax Portal.

The General Tax Authority will evaluate applications individually and communicate approval decisions through the applicants’ portal accounts.

Taxpayers are invited to review the comprehensive guidelines available on the Authority’s website, which details the initiative’s conditions, requirements, and application procedures.

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Oman: Expands Electronic Authentication Service to Saudi Arabia

27/02/202527/02/2025
by Hannah Gutang

The Arabian Stories, 20 February 2025: Oman has unveiled the third phase of its electronic authentication service, expanding its reach to Saudi Arabia and Qatar starting 23 February 2025.

This initiative aims to enhance digital consular services and simplify authentication procedures, eliminating the need for applicants to visit Omani missions in these countries.

Initially launched on 23 January 2025, the electronic certification service is already in operation in the United Arab Emirates, Bahrain, Kuwait, India, and Sri Lanka.

The Ministry, in partnership with Oman Post, plans to gradually extend the service to more countries as part of its strategic work plan.

For individuals seeking authentication services, applications can be submitted online through the official platform: https://www.omanpost.om/ar/attestation-services

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Kuwait: New Work Permit Regulations Enforced by PAM

27/02/202527/02/2025
by Hannah Gutang

Arab Times, 24 February 2025: The Public Authority for Manpower has announced a significant amendment to the rules and procedures for granting work permits.

This change, introduced through a ministerial resolution, adds a new clause to the existing regulations.

The amendment specifically prohibits the registration of new files for companies if any of their existing files have been suspended, pending the resolution of their legal status.

Suspension cases include scenarios such as inactive licences, licences on blocked files, and licences without a registered address.

The resolution further restricts these companies from undertaking certain actions, including adding new licences, updating licence data, adding new workers, or estimating labour needs.

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