Newsletter Archives - Page 8 of 243 - LexisNexis Middle East

Abu Dhabi: Updates Internal Audit Rules for Public Entities

19/09/202519/09/2025
by Hannah Gutang

The Abu Dhabi Accountability Authority (ADAA) has introduced revised internal audit regulations for entities under its supervision.

Key changes to the regulatory framework include: Implementation of continuous audits for financial and operational activities, Expanded role for internal audit units in selecting statutory auditors, New performance indicators for internal audit departments, Requirements for increased use of data analytics in audit procedures and New regulations governing the appointment of external audit firms.

The updated rules strengthen internal audit units’ involvement in monitoring audit outcomes and require the integration of digital tools in audit processes to enhance accuracy and effectiveness.

The revisions also establish new standards for appointing audit firms providing internal audit services to ADAA-supervised entities, with a specific focus on maintaining transparency and quality in audit results.

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UAE: Government Updates Free Zone Tax Rules and Price Reporting Guidelines

12/09/202512/09/2025
by Hannah Gutang

The Finance Ministry has issued two new ministerial decisions that revise regulations for corporate tax activities in free zones and establish official price reporting mechanisms.

The first decision, Ministerial Decision No. 229/2025, replaces previous legislation and broadens the definition of qualifying commodity trading. The updated rules now encompass industrial chemicals, associated by-products, and environmental commodities, whilst also clarifying treasury and financing services regulations for related parties.

Key changes include the removal of the phrase “in raw form” from commodity trading requirements, allowing for expanded trading of metals, minerals, industrial chemicals, energy and agricultural commodities. These items must maintain a quoted price from recognised exchanges or approved price reporting agencies.

Another decision, Ministerial Decision No. 230/2025, provides an official list of recognised price reporting agencies, offering greater clarity for tax compliance.

The legislation also introduces new provisions for self-investment activities and clarifies rules regarding the distribution of goods from designated zones, particularly concerning transactions with public benefit entities.

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Sharjah: Council Announces New Community Services

12/09/202512/09/2025
by Hannah Gutang

Gulf News, 9 September 2025: The Sharjah Executive Council has approved key administrative changes and reviewed progress on community initiatives.

The council evaluated the recently launched bereavement support programme, which provides mourning families with access to condolence tents or neighbourhood majlis facilities, along with hospitality services and directional signage.

Education officials presented data from the private education sector, which currently serves more than 201,000 students with a workforce of 12,000 teachers. Recent achievements include an 80% increase in schools rated “Very Good” and expanded recruitment of Emirati teachers in private institutions.

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Saudi Arabia: Updates Contractor Classification Rules with New Project Division Criteria

11/09/202511/09/2025
by Hannah Gutang

Saudi Gazette, 6 September 2025: Saudi Arabia’s Ministry of Municipalities and Housing has introduced significant amendments to its Contractors Classification Law (Saudi Arabia Cabinet Decision No. 49/1443), establishing new guidelines for project division and classification procedures.

Under the revised regulations, contractors can now divide projects worth SR600 million or more, provided each divided portion maintains a minimum value of SR75 million. The ministry has also implemented strict timeframes for administrative processes, requiring classification decisions within 60 working days and certificate extensions within 10 working days.

The amendments outline six specific circumstances where contractor experience will not be recognised, including cases where contract signing predates commercial registration or when projects fall outside classification scope. Additional exclusions apply to withdrawn projects, unverified contractor involvement, unauthorised subcontracting, and incomplete documentation.

Classification certificates will now be issued electronically, with validity verification available through the ministry’s website. Contractors receive a 90-day window to request grade adjustments or activity modifications after certificate issuance, and certificates can be extended once for 90 days.

The regulations require contractors to update their commercial register information within 30 days of any legal status changes. Appeals against classification decisions must be filed with the competent committee within 60 days, with further appeals possible through the Administrative Court.

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UAE (Ras Al Khaimah): Property Purchases Now Available via Cryptocurrency

11/09/202511/09/2025
by Hannah Gutang

Gulf News, 1 September 2025: A major UAE property developer has introduced cryptocurrency payment options for international buyers purchasing real estate in Ras Al Khaimah.

Key features of the initiative include:

Acceptance of major cryptocurrencies, including Bitcoin, USDT, and ETH
Automatic conversion to UAE dirhams
Direct settlement into developer accounts
Compliance with UAE financial regulations

The payment process will be managed entirely through Hubpay and its VARA-licensed partners, with the developer not handling digital assets directly. All transactions will be processed through regulated channels to ensure compliance.

The move comes amid significant development in Ras Al Khaimah, including:

New Wynn casino resort
Al Marjan Island expansion
Multiple Abu Dhabi developer investments
Establishment of digital asset free zone

The payment system provides instant conversion of cryptocurrency to UAE dirhams, offering international investors an additional payment channel for property purchases in the emirate’s growing real estate market.

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Qatar: Customs Authority Details Personal Duty Exemption Rules

11/09/202511/09/2025
by Hannah Gutang

The Peninsula, 2 September 2025: Qatar’s General Authority of Customs (GAC) has outlined specific conditions for customs duty exemptions on personal items for travellers and returning citizens.

The rules permit exemptions for reasonable quantities of non-commercial items carried by passengers for personal use.

For Qatari citizens returning permanently from abroad, the authority has established specific criteria for the duty-free importation of household goods. These individuals must provide evidence of residing overseas for at least three years, and their belongings must arrive in Qatar within six months of their final return.

The exemptions apply to citizens who have been abroad for work assignments, education, or medical treatment. However, the items must be used personal effects rather than new or commercial goods.

The regulations explicitly exclude aircraft and ship crew members, as well as professional traders importing business-related goods, from claiming these exemptions.

The authority confirmed that the duty-free allowances also extend to persons with special needs, personal postal parcels, and diplomatic missions, though specific limits were not disclosed.

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Oman: Introduces New Remote Working Regulations for Private Sector

10/09/202510/09/2025
by Hannah Gutang

The Arabian Stories, 8 September 2025: The Ministry of Labour in Oman has unveiled comprehensive regulations governing remote work arrangements in the private sector, establishing the country’s first formal framework for flexible working practices.

Under the new ministerial decision, employers must now follow specific guidelines when implementing remote work schemes. The regulations apply to both partial and full remote working arrangements, though notably prohibit remote contracts with workers based outside Oman.

The decision mandates that employers must:

Maintain an official register of remote workers
Supply necessary IT equipment and software
Implement electronic monitoring systems for performance tracking
Cover installation and maintenance costs of work-related technology.

To protect workers’ rights, the legislation explicitly forbids surveillance systems that infringe on employee privacy or misuse personal data. Workers are granted the right to disconnect from company systems if such violations occur.

The regulations specify that full remote working contracts must be written agreements detailing employment terms, including working hours, remuneration, and technological requirements. For partial remote working arrangements, employees may submit requests which employers can approve or decline based on operational needs.

Employers retain the right to recall partially remote workers to on-site work under specific circumstances, including information security breaches or failure to maintain agreed working hours.

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Kuwait: Cabinet Approves New Law on Child Registration

10/09/202510/09/2025
by Hannah Gutang

Kuwait Times, 9 September 2025: The Kuwaiti government has approved significant legislative changes affecting children’s rights.

The Cabinet endorsed amendments to the Children’s Rights Law, introducing mandatory requirements for registering newborns under their father’s nationality portfolio. The revised legislation includes penalties for non-compliance.

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Dubai: Introduces New Tourist Transport Regulations

10/09/202510/09/2025
by Hannah Gutang

Emarat Al Youm, 9 September 2025: Dubai’s transport authorities have unveiled new executive regulations governing tourist transportation services across the emirate, implemented through Dubai Administrative Decision No. 97/2025.

The comprehensive regulations establish new licensing requirements for tourist transport operators and vehicles. Under the new framework, authorities will oversee the issuance and renewal of permits for tourist transport establishments, vehicle registration, and professional licences for tourist transport drivers.

Key measures include:

Mandatory licensing for all tourist transport facilities
New vehicle registration requirements for tourist transport vehicles
Professional certification requirements for drivers
Streamlined application processes through authorised service centres.

The regulations create a standardised system for managing tourist transportation services across Dubai. Applications for permits and licences must be submitted through official service centres and channels designated by the transport authority.

The new regulatory framework assigns responsibility for oversight and compliance monitoring to the transport authority, which will manage all aspects of licensing and registration for the tourist transport sector.

For the full story, click here.

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Bahrain: Strengthens Financial Penalties in Central Bank Law Amendment

10/09/202510/09/2025
by Hannah Gutang

The Daily Tribune, 8 September 2025: Bahrain has issued significant changes to its banking legislation through a new royal decree that substantially increases penalties for violations of financial regulations.

The amendment, issued as Bahrain Decree-Law No. 37/2025, specifically revises Article 161 of Bahrain Law No. 1/2006 the Central Bank and Financial Institutions Law.

Under the modified legislation, offenders who breach Articles 40 and 41, or associated regulations under Article 42, now face imprisonment and/or fines of up to one million Bahraini dinars.

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