Newsletter Archives - Page 30 of 243 - LexisNexis Middle East

Kuwait: Tightens Money Transfer Regulations to Combat Financial Crimes

13/02/202513/02/2025
by Hannah Gutang

Arab Times, 10 February 2025: Kuwait has recently implemented stricter regulations on money transfers, raising concerns for individuals and companies involved in regular financial transactions.

Those who frequently assist friends with money transfers or act as intermediaries for businesses with employees abroad may find their transactions under increased scrutiny.

The Central Bank of Kuwait is enforcing more rigorous measures to verify the actual beneficiaries of financial transfers, even for amounts under 50 dinars.

This scrutiny applies to recurring transactions, requiring individuals to justify the reasons for their transfers, regardless of their relationship with the exchange company.

These regulatory changes aim to strengthen efforts against money laundering and terrorist financing, aligning with the Financial Action Task Force (FATF) guidelines.

The new rules enhance the Central Bank’s oversight, ensuring that financial transfers comply with FATF standards.

Exchange companies must verify customer information and beneficiary data throughout the transaction process, keeping this information updated and confirming its validity.

Due diligence measures include assessing the effectiveness of automated systems that monitor and prevent illicit activities.

Customer and transaction records must be retained for at least five years after a transaction, with data accuracy verified for transactions exceeding 3,000 dinars in one day.

Exchange companies are also required to report suspicious transactions potentially linked to crime or terrorism financing.

The Central Bank emphasises the importance of effective procedures for reporting suspicious activities.

In cases of suspected illicit transactions, thorough investigations and documentation are required, identifying all parties involved and exploring any potential connections to money laundering or terrorism financing.

To ensure compliance, exchange companies must implement customer due diligence measures based on assessed risk levels.

This includes reviewing customer files and transactions, with additional scrutiny for high-risk customers.

Furthermore, exchange companies must engage an audit office, preferably linked to an international entity, to evaluate compliance with Kuwait Law No. 106/2013.

This audit focuses on unusual transactions lacking clear economic justification, with reports required semi-annually.

Ongoing due diligence requires exchange companies to implement an automated system to verify names against lists of individuals and entities subject to freezing orders, ensuring compliance with international sanctions related to terrorism and weapons proliferation.

Under the new framework, exchange companies are prohibited from providing financial services to individuals or entities listed in freezing decisions, reinforcing Kuwait’s commitment to global security efforts.

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Fujairah, UAE: 20% Salary Hike Announced for Government Employees

13/02/202513/02/2025
by Hannah Gutang

Khaleej Times, 6 February 2025: Fujairah has announced a 20% salary increase for government employees from 1 February 2025.

Furthermore, 72% of UAE nationals expect a salary increase in 2025.

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Dubai: Issues Law On Emblem

13/02/202513/02/2025
by Hannah Gutang

The Prime Minister of the UAE has enacted Dubai Law No. 1/2025, which governs the use of emblems associated with the Emirate and Government of Dubai.

This legislation establishes that Dubai will have a unique emblem symbolising its identity, heritage, values, principles, and vision.

The Law declares the Dubai Emblem as the property of the Emirate, while the Government Emblem belongs to the Government of Dubai.

Both are protected under this new Law and existing legislation.

The emblem described in Dubai Law No. 17/2023 is also protected, and unauthorised use is prohibited.

The Dubai emblem is restricted to specific locations, events, documents, and seals of entities authorised by the Chairman of Dubai’s Ruler’s Court.

Only Dubai Government departments, public agencies, corporations, government councils, authorities, and affiliated entities may use the emblem.

Any other use requires special permission from the Chairman or an authorised representative, complying with specified guidelines.

The emblems must be used according to a manual developed by the General Secretariat of The Executive Council and approved by the Chairman of The Executive Council of Dubai.

Unauthorised use of the emblem by individuals or entities, or for commercial purposes, advertising, or in a manner that distorts its value, is strictly prohibited.

Use in activities or events that contradict Dubai’s values or public order is also forbidden.

The Law mandates reporting of any violations to competent authorities, including the Department of Economy and Tourism in Dubai, authorities overseeing Special Development Zones and Free Zones, and relevant judicial bodies.

These entities are tasked with taking legal action against violators.

Penalties for prohibited acts include prison for up to five years, fines ranging from AED100,000 to AED500,000, or both, without affecting stricter penalties under other laws.

These penalties also apply to violations related to the emblem as per Dubai Law No. 17/2023.

Unauthorised users of the emblem must cease use and remove it within 30 days unless they obtain the necessary permission under the new Law.

Dubai Law No. 1/2025 supersedes Dubai Law No. 17/2023 and repeals conflicting provisions in other legislation.

It will be published in the Official Gazette and take effect upon publication.

The Chairman of The Executive Council of Dubai will issue resolutions for its implementation.

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Bahrain: MP Pushes For Law To Make Arabic Contracts Mandatory

13/02/202513/02/2025
by Hannah Gutang

The Daily Tribune, 7 February 2025: In Bahrain, the continued issuance of contracts in English, despite Arabic being the official language, has prompted a legislative push for change.

A member of parliament is advocating for a law that would mandate the use of Arabic in all contractual agreements.

This move aims to ensure that customers fully understand the terms they are agreeing to, as many currently sign documents they cannot read.

The proposed legislation would require companies to provide agreements in Arabic and supply official copies to clients.

This requirement aligns with Arabic’s status as the country’s official language, which should already dictate the language of legal documents.

Contracts written in English or other languages have led to numerous misunderstandings and court disputes, highlighting the need for clarity.

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Oman: Tightens Citizenship Rules

12/02/202512/02/2025
by Tanya Jain

Gulf News, 10 February 2025: Oman has enacted a more stringent Nationality Law, Oman Sultani Decree No. 17/2025, which specifies the conditions under which Omani citizenship can be lost, revoked, or withdrawn.

This law highlights the Sultanate’s emphasis on loyalty and national integrity, detailing scenarios where citizenship may be automatically forfeited or revoked by the government. According to Article 23 of Oman Sultani Decree No. 17/2025, Omani nationals who unlawfully acquire a foreign nationality will automatically lose their Omani citizenship.

The law also addresses marriage-related nationality issues. A foreigner who gains Omani citizenship through marriage to an Omani woman will lose it if the marriage ends in divorce or desertion within five years. However, the children of such a union will retain their Omani nationality, even if the father loses his.

Similarly, a foreign woman who becomes an Omani citizen through marriage to an Omani man will lose her citizenship if she divorces and remarries a non-Omani, effective from the date of the second marriage. The law also sets forth conditions for the revocation of citizenship.

Under Article 26 of Oman Sultani Decree No. 17/2025, individuals may be stripped of their nationality for insulting the Sultan or the Sultanate, either verbally or through actions.
Membership in organizations or parties that promote ideologies detrimental to Oman’s interests can also lead to revocation.

Furthermore, Omani nationals working for a foreign government in a capacity that conflicts with Oman’s interests, and who refuse to resign despite official requests, may lose their citizenship. This also applies to those working for hostile nations actively opposing Oman. However, the law allows for the reinstatement of citizenship if the circumstances leading to revocation are resolved.

Additionally, Oman has introduced provisions for withdrawing citizenship from individuals who obtained it through fraudulent or illegal means.

Article 27 of Oman Sultani Decree No. 17/2025 states that those convicted of crimes against state security or sentenced for multiple felonies within five years of acquiring nationality may have their citizenship revoked.

Long-term absence from Oman is also a factor; individuals who remain outside the country for more than 24 consecutive months without a valid reason risk losing their nationality.

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UAE: AI In Courts

07/02/202507/02/2025
by Hannah Gutang

Arab Times, 5 February 2025: AI could soon play a key role in the UAE’s judicial system, with trials already underway to test its effectiveness in case analysis.

A top government official has revealed that AI is being used to assist in cases where outcomes are clear-cut and require no human discretion.

Beyond case rulings, AI is also streamlining legal processes by translating, summarising, and analysing large volumes of documents.

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Sharjah: Ruler Issues Law on Human Resources for Military Personnel

06/02/202506/02/2025
by Hannah Gutang

A new law has been enacted in Sharjah, amending previous legislation concerning human resources for military personnel in regulatory bodies.

This amendment introduces changes to the promotion and retirement processes, as well as the establishment of a Police Judiciary Council.

The revised law mandates the formation of committees within regulatory bodies to oversee promotions and retirements, ensuring candidates meet the necessary criteria.

For higher-ranking officers, proposals for promotion or retirement must be submitted to the Ruler for approval, while decisions for lower ranks are handled by the respective bodies.

The newly established Police Judiciary Council is tasked with reviewing disciplinary violations and imposing penalties, with its decisions requiring ratification by the head of the relevant regulatory body.

These changes aim to enhance the governance and accountability of military personnel within the emirate.

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Saudi Arabia: Waives Tax Fines

06/02/202506/02/2025
by Hannah Gutang

Arabian Business, 4 February 2025: Saudi Arabia has announced it will waive a range of fines and penalties on tax violations as it looks to support businesses registered in its tax system.

The Zakat, Tax and Customs Authority (ZATCA) has urged taxpayers to seize the opportunity presented by the cancellation of fines and exemption of penalties initiative, which is available until 30 June 2025.

This initiative offers a reprieve from fines associated with late registration, payment, and filing of returns under all tax laws.

Additionally, it includes waivers for penalties related to correcting VAT returns, violations of VAT field control, and non-compliance with e-invoicing and other VAT regulations.

To benefit from this initiative, taxpayers must be registered with the tax system, submit any previously unfiled returns to ZATCA, and settle all outstanding principal tax debts related to those returns.

An option to apply for an instalment plan is also available, provided the application is made while the initiative is active and all payments are made on time as per the approved schedule.

However, the initiative does not extend to penalties related to tax evasion or fines that were settled before the initiative commenced.

ZATCA encourages taxpayers to familiarise themselves with the initiative’s details through the simplified guidelines on its website.

These guidelines offer a thorough explanation of the types of penalties covered, the conditions for exemption, the process for managing instalment payments, and information on field control violations.

For further inquiries, taxpayers can contact ZATCA via phone: 19993, X: @Zatca_Care, Email: info@zatca.gov.sa and Online: zatca.gov.sa.

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Qatar: MoJ Unveils New Digital Real Estate Services

06/02/202506/02/2025
by Hannah Gutang

Qatar Tribune, 5 February 2025: The Ministry of Justice (MoJ) in Qatar has launched a new suite of electronic services aimed at modernising real estate registration and documentation.

The updated Sak Application now offers services such as issuing replacement title deeds, correcting property details, and managing mortgages.

It also features QR codes on title deeds for easy access to property information and location via GIS and Google Maps.

Transactions can be completed electronically, with documents delivered through Qatar Post, reducing the need for in-person visits.

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Oman: Approves Draft Personal Income Tax Law

06/02/202506/02/2025
by Hannah Gutang

The Arabian Stories, 28 January 2025: The State Council and Majlis Al Shura have approved the draft laws on personal income tax with recommendations on some articles.

On the Personal Income Tax Law, both State Council and Shura agreed to raise the tax exemption limit to RO 50,000 (annual income) for the benefit of the middle class and reduce the percentage to 5%.

Both the Councils have also agreed not to calculate the gratuity or other end-of-service benefits within the Personal Income Tax as they are not considered a sources of income.

As per the draft income law, individuals who are earning monthly salaries of above RO 2,500 (over RO 30,000 income annually) will be subjected to income tax once it is implemented. However, both

Members of the Council have agreed that the minimum income of RO 30,000, which covered around 32,000 people, was proposed by the government according to a study conducted in 2019/2020.

Some members also suggested to postpone the implementation of the law but if the law is implemented the minimum income has to be raised and other recommendations should be also included.

The Finance Minister had confirmed that Personal Income Tax Law will not be imposed unless conditions are suitable for it to be implemented.

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