LexisNexis Middle East

Abu Dhabi: New Instant License Renewal Service Introduced by the ADGM

30/09/201911/12/2019
by Benjamin Filaferro

Abu Dhabi’s Global Market Registration Authority has announced it has introduced a new instant license renewal service. The service will allow registered entities to complete license renewals via the Online Registry Solution, once a renewal form is submitted. Companies will also be able to continue to use the platform to lodge their other annual filing requirements in line with the Companies Regulations 2015. The aim is to improve business efficiency and make it easier to do business in the Centre.

News developments

The Qatar Financial Centre Issues new Rules to Regulate FinTech Service Providers

30/09/201911/12/2019
by Benjamin Filaferro

The Qatar Financial Centre has announced it has issued new rules and guidance to regulate FinTech service providers in the country. Under the new rules and guidance, non-regulated professional service firm activities have been expanded to cover FinTech Services Provider activities. This will include activities like providing cybersecurity solutions, application programming interfaces cloud computing, developing blockchain-based technologies, Artificial Intelligence and companies who provide a platform for facilitating real-time transaction capability of internet connected devices. It comes as Qatar looks to develop its FinTech environment and is part of the Centre’s FinTech strategy.

Weekly Spotlight

Weekly Spotlight: First Ever Saudi Tourist Visas to be Issued

30/09/201911/12/2019
by Benjamin Filaferro

The Saudi Commission for Tourism and National Heritage has announced it will issue the first ever tourist visas in the Kingdom. The visas will cost 300 Riyals with an additional travel insurance cost of 140 Riyals. They will be issued from today to nationals of 49 countries from Europe, Asia and the US, Canada, Australia and New Zealand.

While the dress code requirement for foreign women will be relaxed to remove the requirement for them to wear the abaya robe they will still have to wear ‘modest clothing’. Non-Muslims will also still not to be allowed to visit the Mecca and Madinah and the ban on alcohol will not be lifted.

Historically visas were only issued to pilgrims, business people and expatriate employees. They will be valid for 360 days from their issued date for stays of up to 90 days up to a maximum of 180 days annually.

News developments

Bahrain: Meeting of the Parliamentary Committee Investigating non-Bahrainisation of Jobs

23/09/201911/12/2019
by Benjamin Filaferro

In common with other GCC states, Bahrainisation efforts have been under scrutiny as a parliamentary committee which has been put in charge of investigating non-Bahrainisation of jobs in the public and private sector held a meeting. The issue was raised after it was found the Ministry of Information had 70% of Bahraini staff with temporary contracts. There was a pledge to take action after there had been issues as a result of a number of national employees opting for the Voluntary Retirement Programme. The committee asked that the Ministry include Bahrainisation rates as a contract term when signing agreements with private companies and take this matter into consideration when awarding tenders.

News developments

Qatar: New Anti-Money Laundering and Terrorism Financing Law Issued

23/09/201911/12/2019
by Benjamin Filaferro

The Emir of Qatar has issued Qatar Law No. 20/2019 on Anti-Money Laundering and Terrorism Financing, replacing Qatar Law No. 4/2010. The law is to be implemented from the day following its publication in the Official Gazette. The Qatari Central Bank has said the new law complies with recommendations from the Financial Action Task Force (FATF) by setting binding legal requirements for businesses and the financial sector on combatting money laundering and terrorist financing, including non-profit organisations and money transfer services. Those who violate the law will face fines and imprisonment. The law requires the “widest possible cooperation and exchange of financial information” with foreign counterparts. Qatar has already signed a relevant memorandum of understanding with the United States.

News developments

Kuwait: Controls to be Tightened over Markets and Ban Imports of Somali Coal

23/09/201911/12/2019
by Benjamin Filaferro

Kuwait’s Ministry of Commerce and Industry has brought to the attention of relevant officials to tighten control over markets and ban imports of Somali coal. The moves is as a result of fearsmoney earned from coal export in Somali may be indirectly used in financing terrorist activities. The ministry had received a letter from the United Nations on this subject. The steps have been taken as part of the United Nation’s work to remove financial resources which support crime.

Weekly Spotlight

Weekly Spotlight: The UAE Joins the International Maritime Security Construct

23/09/201911/12/2019
by Benjamin Filaferro

The UAE has announced it has joined the US-led International Maritime Security Construct following recent tanker attacks in the region. The Construct is aimed at protecting maritime navigation and international trade. The Director of the International Security Cooperation Department at the Foreign Affairs and International Cooperation, Ministry made the announcement. The Construct’s task force is headquartered in Bahrain and its members include the US, UK, Australia and Bahrain.

Kuwait’s Trade and Industry Minister has issued a Decision as well, raising the security level at all of the country’s oil and commercial ports. ‘All’ measures must be taken to protect these facilities.

Weekly Spotlight

Weekly Spotlight: Statements on the New UAE Government Emiratisation Plan

15/09/201911/12/2019
by Benjamin Filaferro

Recently, with the announcement of Sheikh Mohammed of the new Government plan which included the need to focus on Emiratisation there have been a number of statements made on this issue. Speaking at a meeting to implement the plan, the Deputy Prime Minister, stated that some institutions have been ‘manipulating’ Emiratisation figures and jeopardising the country’s stability in the process. He has added a new way of thinking and a new vision is needed in this area. There will also be greater scrutiny of institutions who are manipulating Emiratisation figures. In addition, the Ruler of Sharjah has announced a new Emiratisation Department will be set up in that Emirate which will be responsible for the hiring of Emiratis in the private sector. In addition, private sector employers with Emirati employees will have to deposit their salaries with the Government who will then pass the money on to Emirati employees after having made sure those salaries match equivalents in the public sector.

News developments

Qatar: E-Signatures Authorised for Sick Leave Certificates

14/09/201911/12/2019
by Benjamin Filaferro

In Qatar, sick leave certificates issued by Hamad Medical Corp (HMC) and the Primary Health Care Corp (PHCC) have been changed and will no longer require the signature of the physician or e stamp of the health facility which issued them. Instead the certificates will be issued electronically with an e-signature and barcode. The system will be implemented initially at government health facilities only. Private health facilities, will continue to issue sick leave certificates which are signed and stamped in the usual way. These certificates could be issued to HMC and PHCC employees, students and employees of all organisations and entities.

News developments

Bahrain: Deputy King Instructs Change on Utility Bills

14/09/201911/12/2019
by Benjamin Filaferro

Bahrain’s Deputy King has directed EWA to continue reissuing water and electricity bills for Bahraini citizens at their primary residence account. He has also instructed government departments to ensure the accuracy of services provided. As a result bills will be issued in September, October and November based on last year’s bill if that is lower. The Directive was given as the Deputy King met with the National Audit Office where a report on the accuracy of bills for the previous three months was presented. Recalculations of bills at that time were needed. The Deputy King has also directed EWA to reform its billing system.