Bahrain: PPP Guide Approved

Bahrain’s Crown Prince and Prime Minister has issued Bahrain Edict No. 30/2022 promulgating a guide regulating public–private partnerships.

The Minister of Finance and National Economy will be responsible for issuing the edicts, instructions and guidelines necessary to implement the Edict.

This includes the technical and financial provisions and procedures to be taken into account by the administrative authorities while designing partnership projects or implementing them through partnerships.

The Ministry of Finance and National Economy will also be responsible for verifying the compliance with the provisions of the guide accompanying the Edict and the edicts, instructions and guidelines issued subsequently in line with it.

The Minister of Finance and National Economy and other relevant Ministers will be responsible for implementing the Edict.

It will be published in the Official Gazette and come into force on its published date in the Gazette.

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Bahrain: Penal Code Amendment Approved

Alayam, 15 May 2022: Bahrain’s King has ratified and promulgated Bahrain Law No. 18/2022 amending Article 231 of Bahrain Decree-Law No. 15/1976 (the Penal Code).

Under Article 1, Article 231 will be amended to read:

‘Anyone, while practicing a medical or health profession, examines a dead person or provides first aid to a severely injured person and finds signs indicating that his death or injury is a felony or misdemeanour, or other circumstances exist that call for suspicion of its cause, and he does not inform the public authority of that, will be liable to imprisonment and a fine or to one of these two penalties.’

The Prime Minister and the relevant ministers will be responsible for implementing it. It will be published in the Official Gazette and come into force the day after it is published. For full story, click here.

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Bahrain: Crowdfunding Regulations Issued

The National, 1 May 2022: The Central Bank of Bahrain has set new rules governing crowdfunding-based activities.

The move follows a comprehensive review of existing regulations and contains rules on both equity and financing-based crowdfunding, according to a report by Bahrain News Agency.

The new regulations include principles governing the conduct of operations by the platform, rules on platform offers and disclosures. Methods for avoiding conflicts of interest are also covered as are segregating client money from platform operators to ensure safe operation of the activity.

Crowdfunding is seen by the authorities in Bahrain as potentially providing new alternative sources of funding for new businesses and start-ups and it is hoped it will serve as a catalyst for the growth of these types of businesses. The new regulations are principles-based, simple, easily understood and contain the minimum safeguards required to ensure crowdfunding platforms do not pose excessive risk to the financial sector.

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Bahrain: Maritime Law Ratified

Al Watan, 7 April 2022: Bahrain’s King has ratified Bahrain Law No. 10/2022 issuing the Maritime Law.

It had already been approved by the Shoura and Representative Councils.

Under Article 1, the Maritime Law will be enforced, in a way which does not conflict with the provisions of relevant international conventions and treaties and protocols in force in the Kingdom.

Under Article 2, the Law of Ship Registration and Determining Safety Conditions promulgated by Bahrain Decree-Law No. 14/1978 and the Maritime Law promulgated by Bahrain Decree-Law No. 23/1982 (as amended) as well as any provision which contradicts the provisions of the Law will be repealed.

Under Article 3,  the Minister responsible for Ports and Maritime Affairs will issue the Implementing Regulations and decisions necessary to implement the Law.

They will do within six months of the Law being published in the Official Gazette.

For full story see https://alwatannews.net/Bahrain/article/1000003/%D8%A7%D9%84%D9%85%D9%84%D9%83-%D9%8A%D8%B5%D8%A7%D8%AF%D9%82-%D9%88%D9%8A%D8%B5%D8%AF%D8%B1-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%B1%D9%82%D9%85-(10)-%D9%84%D8%B3%D9%86%D8%A9-2022-%D8%A8%D8%A5%D8%B5%D8%AF%D8%A7%D8%B1-%D8%A7%D9%84%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%A8%D8%AD%D8%B1%D9%8A.

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Bahrain: Central Bank Issues Updated Investment Fund Operation Directives

Bahrain’s Central Bank has issued updated investment fund operation directives.

They have done so following a comprehensive review of the rules governing the work of these entities as part of its plan to carry out a comprehensive review of the entire legislative system related to the financial sector.

The amendments focus on dividing investment funds into two categories.

The first category of funds relates to small investors and contain details of the nature of investment in the funds and require approval from the Bank first.

The second category of funds relates to investors with high financial solvency and experience. Those in this category only have to notify the Bank of the fund marketer.

The updated rules take the rapid and continuous changes in the investment fund sector into account.

They are aimed at reducing administrative procedures and facilitating approvals for the establishment and marketing of investment funds in order to create an environment to enable the sector to grow with appropriate regulations in place.

This will improve the competitiveness of investment fund operators and investment managers. For full story, click here.

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Bahrain: Cyber Crime Law Amendments Being Considered

Al Watan, 10 March 2022: The Foreign Affairs, Defence and National Security Committee of Bahrain’s Parliament has discussed proposed amendments to the Kingdom’s Cyber Crimes Law.

The proposed amendment would add a new Article to Bahrain Law No. 60/2014 criminalising insult, slander, and violating the reputations of others by misusing information technology,

The Committee examined the feedback of the Legal and Legislative Affairs Committee, the Interior Ministry and the Justice, Islamic Affairs and Waqf Ministry.

Following their examination of the feedback, the Committee decided to approve the draft law.

They also approved reducing the minimum fine for the related violations to 5,000 Dinars instead of 50,000 Dinars. For full story, click here.

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Bahrain: Civil Aviation Regulation Law Amendments Approved

Al Watan, 21 February 2022: Bahrain’s King has approved and issued Bahrain Law No. 4/2022 amending the Civil Aviation Regulation Law promulgated by Bahrain Law No. 14/2013.

Under Article 1 of Bahrain Law No. 4/2022, the definitions of civil aviation affairs, national aircraft and unit or investigation unit contained in Bahrain Law No. 14/2013 will be replaced wherever they appear with

‘Civil Aviation Affairs: The body entrusted with the authorities, competencies and powers related to civil aviation and represented by the Undersecretary for Civil Aviation Affairs.

National Aircraft: An aircraft registered in the National Aircraft Registry.

Unit or Investigation Unit: The unit for investigating accidents and dangerous incidents of aircraft established under Article 90 of this law’. For full story, click here.

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Bahrain: First Golden Visa Issued

The National, 14 February 2022: The chairman of the Lulu Retail Group has become the first recipient of Bahrain’s new golden visa for foreign nationals.

The UAE-based Yusuff Ali was handed the visa in a ceremony attended by Bahrain’s King Hamad and Crown Prince and Prime Minister Salman bin Hamad. Lulu, based in Abu Dhabi, is a major employer in the Gulf with more than 50,000 staff.

Under previous rules, Bahrain residents could only get a renewable visa tied to their employment status.

A golden visa allows them to extend the visa for an indefinite period and provide a residence permit for close family members.

To qualify, a person must have lived in Bahrain for at least five years and earn an average salary of at least 2,000 Bahraini dinars ($5,306) a month.

Retirees, talented people who fit certain criteria and those who own real estate above a certain value can also apply. There are 11 Lulu stores across Bahrain,

The Golden Residence Permit decision Bahrain Decision No. 20/2022 has been issued on granting entry visas and golden residence permits to foreigners.

Under Article 8 of Bahrain Decision No. 20/2022 the permit can be cancelled if the holder can not prove that they stayed in the country for 90 days within a year, if the continuation of their stay in the country could cause harm to security, public order, or national interests, or if it is proven that they have obtained the residence permit based on false information or incorrect documents, and if they have violated any of the provisions related to the Foreigners Law 1965.

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