LexisNexis Middle East

Saudi Arabia: Implementing Regulations to Audio-Visual Law Amended

23/08/202323/08/2023
by Tanya Jain

Okaz, 15 August 2023: Amendments to the Implementing Regulations to the Audio-Visual Law have been approved. The amendments confirm the prohibition of displaying content that encourages, promotes or leads to violence, intimidation, witchcraft or sorcery.

The amendments urge adherence to the principles of objectivity, honesty, accuracy, confidentiality of information and fairness in dealing with various topics.

It also urges professional standards and practices related to the media in broadcasting news, services, and advertisements to be complied with.

The amendments state the content must not violate the Kingdom’s principles and must not call for violence, or glorify groups with destructive political, ethnic, economic, financial, ideological or social tendencies.

It must not violate the rights of women or children and not prejudice the dignity of people and their private lives or belittle or offend them either.

Read the full story here.

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News developments

Qatar: General Retirement and Social Insurance Authority Decision Issued

23/08/202323/08/2023
by Tanya Jain

Gulf Times, 16 August 2023: Qatar’s Emir has issued a Decision organising the General Retirement and Social Insurance Authority.

Qatar Emiri Decision No. 61/2023 will be published in the Official Gazette and come into force on its issued date.

The Emir has also issued Qatar Emiri Decision No. 62/2023 appointing Ahmed Ali al-Hammadi as the Director General of the Authority. The Decision will be published in the Official Gazette and come into force on its issued date.

Also reported in Lusail on 16 August 2023. Read the full story here.

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News developments

Oman: Environmental Permit Fees Cut

23/08/202323/08/2023
by Tanya Jain

Oman Daily Observer, 20 August 2023: The Chairman of Oman’s Environment Agency has announced it has issued an environmental permits Decision, cutting fees for environmental permits.

Oman Decision No. 107/2023 has been published in the Official Gazette and revokes the existing Decision covering environmental requirements for service and industrial activities.

Under the previous regulations, there was no ceiling imposed for fines, which in some cases reached 10,000 Rials. The highest fee imposed was 1,500 Rials for three years.

In addition, an activity could not be changed or updated and no advance warning was given before a violation was issued. Under the new regulations, fines imposed cannot exceed the value of the permit or 900 Rials.

There will be more flexibility in updating, changing, or adding new activities and notice before a violation is recorded will be given.

Also reported in Shabiba on 20 August 2023. For the full story, click here.

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News developments

Kuwait: Health Insurance for Retirees Law Approved

23/08/202323/08/2023
by Tanya Jain

Kuwait Times, 21 August 2023: A Health Insurance for Retirees Law has been approved. A separate law on the formation of construction firms responsible for ensuring the economic development of residential areas has also been approved.

In addition, new electoral laws dealing with Parliamentary elections have been approved. Finally, amendments to constitutional court legislation have been approved.

The Cabinet also referred a draft law on proposed amendments to electoral constituencies to the Crown Prince to consider.

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News developments

Dubai: Virtual Asset Regulatory Authority Signs Cooperation Agreement with the Department of Economy and Tourism

23/08/202323/08/2023
by Tanya Jain

Gulf News, 17 August 2023: Dubai’s Virtual Asset Regulatory Authority has signed a cooperation agreement with the Emirate’s Economy and Tourism Department.

The agreement outlines a framework for cooperation to deliver effective and synchronised virtual asset market assurance across the Emirate. This encompasses customer care and complaints, business on-site inspection and enforcement; business Virtual Asset Service Provider registration and licensing, education, training and knowledge sharing.

Under the agreement, the Department will add the Authority’s activities to its system for all virtual asset license issuing. The Department will be responsible for inspections and supporting the Authority with in situ enforcement. This will include imposing penalties such as suspensions or revocations in cases of proven negligence or non-compliance with the Authority’s rules.

It can also handle business as usual application renewals for virtual asset service providers who meet Authority requirements in full.

The Authority will be included in the Department’s e-permit system, which will enable one-touch point approvals on virtual asset events. Elsewhere the Dubai Corporation for Consumers Protections & Fair Trade Department within the Economy and Tourism Department will be upgraded with specialist virtual asset know-how, which will support the provision of a transparent and seamless customer experience.

The two entities will also cooperate on campaigns to raise consumer protection awareness about virtual assets. This will include providing consumer protection information and advice. The Department will also publish relevant notices and warnings, including penalty notices and consumer protection advisories on its websites.

The agreement has been signed following the issuing of new guidelines, which require entities qualifying for a regulated Full Market Product license to transition to an Authority-regulated regime by 31 August.

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News developments

Saudi Arabia: Companies Must Disclose Training Information

22/08/202322/08/2023
by Tanya Jain

Arab News, 19 August 2023: Saudi Arabia’s Human Resources and Social Development Minister has issued a Decision requiring companies with more than 50 employees to disclose their training information.

This information will have to include hours and trainee counts, training plans, activity reports, trainee numbers and budget allocation for the next year.

The information will help the Ministry assess training indicators in the job market and work with the private sector to improve training programmes for employees. The Decision has been issued to improve training in private sector companies as well as improve workforce capabilities and promote development and growth opportunities.

In addition, it aims to improve performance and productivity and support the national programme to incentivise private sector training for job market readiness.

Also reported in Albilad Daily on 19 August 2023. Read the full story here.

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News developments

Saudi Arabia: Ministry Urges Companies to Submit Financial Results Electronically

21/08/202322/08/2023
by Tanya Jain

Okaz, 16 August 2023: Saudi Arabia’s Commerce Ministry has urged companies to prepare and deposit their financial statements electronically via the Quaem platform to avoid violating the provisions of the Companies Law (Saudi Arabia Cabinet Decision No. 678/1443).

The Ministry stated that simple companies, simple joint-stock companies, limited liability companies, partnerships, and simple recommendations must prepare financial statements at the end of each fiscal year in line with the accounting standards approved in the Kingdom.

They should then deposit them within six months of the end of the fiscal year in line with Article 17 of Saudi Arabia Cabinet Decision No. 678/1443 (the new Companies Law).

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News developments

UAE: New Regulations for Seventh Freedom of Air Transport Rights Issued

16/08/202316/08/2023
by Tanya Jain

The UAE General Authority of Civil Aviation (GCAA) has announced new regulations on the exercise of the seventh freedom of air transport rights have been issued.

The seventh freedom of air transport rights is a privilege granted by one country to another to allow its airlines to operate air services between the granting country’s territory and any third country without the need for the flight to pass through the territory of the operating airline’s country.

This freedom gives airlines unprecedented flexibility.

It allows them to increase their connectivity between destinations and boost global connectivity. The new regulations will also provide this freedom to UAE airlines which want to take advantage of it in foreign countries with which the UAE has air services agreements that include the seventh freedom of air rights.

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News developments

Saudi Arabia: Compulsory Health Insurance Eligibility Changes Announced

16/08/202316/08/2023
by Tanya Jain

Arab News, 12 August 2023: Saudi Arabia’s Council of Health Insurance has announced orphans whose parents are not known or whose mothers are not known will qualify for compulsory health insurance now. They will qualify through their foster families.

Their coverage is effective from the issued date of their ID certificate. The certificate will be issued by the Human Resources and Social Development Ministry and will be delivered to the foster parent who is the beneficiary of the coverage.

The coverage will end when male dependents reach 25, female dependents marry or custody ends. It will also end if the Ministry cancels the foster family’s custody of the orphan, the orphan dies or the foster parent’s coverage expires.

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News developments

Oman: New Real Beneficiary Regulations Issued

16/08/202316/08/2023
by Tanya Jain

Shabiba, 6 August 2023: Oman Ministerial Decision No. 424/2023 which issues the regulation of procedures for establishing a real beneficiary has been issued.

The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has issued new regulations to strengthen the country’s anti-money laundering (AML) and countering the financing of terrorism (CFT) regime.

The decision also repeals the regulation organising procedures for identifying real beneficiaries issued by Oman Ministerial Resolution No. 630/2022.

The new decision defines a real beneficiary as a natural person who owns or exercises final effective control directly or indirectly over an entity.

The new decision requires commercial companies to create a special register called the “Real Beneficiary Register” which includes data on the real beneficiaries of partners and shareholders who own at least 25% of the company’s shares. Those who fail to comply with this requirement could be subject to a range of penalties including a written warning, administrative fine of 1,000 Rials, or suspension from the commercial register for up to three months.

The data in the register must also be updated, and a real resident person must be designated to carry out the task of coordinating with the Ministry and the competent authorities to provide this information and data.

For the full story, click here.

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