Bahrain Archives - Page 19 of 27 - LexisNexis Middle East

Bahrain: Financial Disclosures Examination Authority Established

06/11/202006/11/2020
by Benjamin Filaferro

Bahrain’s King has issued Bahrain Royal Order No. 42/2020, establishing the Financial Disclosures’ Examination Authority. The Authority will be chaired by the Court of Cassation President and Supreme Judicial Council Deputy President. Its panel will consist of the Prosecutor at the Cassation Court, Judge Shaikh Mohammed bin Ali Al Khalifa, High Civil Court Judge, Dr. Riyadh Mohammed Ibrahim Siyadi and High Civil Court Judge, Isa Mohammed Isa Daraj. They will be members for two years. The Authority will start receiving financial disclosure statements to examine them and verify related complaints, in line with the Law and procedures determined by its Implementing Regulations. It will have the same remit as its predecessor which was established by Bahrain Royal Order No. 26/2014.

News developments

Bahrain: Bahrainisation Rate in Government-owned Companies Increased

30/10/202030/10/2020
by Benjamin Filaferro

Bahrain’s Parliament has approved an increase in the Bahrainisation rate in Government-owned companies in the Kingdom. It means the rate will be able to be increased to 95% within three years. The proposal has been submitted to the Government to consider. They also approved a proposal to ban foreigners from assuming Director of Human Resources positions in Government entities or entities or companies owned by the State where the State contributes more than 50% the capital. They have also referred it to the Government to consider.

News developments

Bahrain: Draft Protection of New Plant Varieties Law Approved

25/10/202025/10/2020
by Benjamin Filaferro

Bahrain’s Public Utilities and Environment Committee has approved a draft law to implement the International Convention for the Protection of New Plant Varieties. It will protect new plant varieties in the Kingdom, regulate the rights and duties of plant breeders and support investment in scientific research and agriculture to develop new plant varieties of high economic and productive value. The explanatory memorandum to the draft law states the justifications for the law is to protect new plant varieties, regulate the conditions for protecting plant varieties, specify the duration of protection and the exceptions. It also states the controls of compulsory licenses, and the precautionary measures to protect Plant breeder rights. In addition, it specifies criminal penalties for violating their rights or violating the law.

News developments

Bahrain: Real Estate Regulatory Authority and E-government Launch Real Estate Licenses

17/10/202017/10/2020
by Benjamin Filaferro

Bahrain’s Real Estate Regulatory Authority together with the Information and e-Government Authority has launched a licensing services system. The system includes a number of services which can be used through the national Bahrain.bh portal. It includes a group of important electronic services for real estate professionals, including brokers and sales agents. It also includes facilities to issue licenses and pay fees, enquiring about the status of applications, renewing expired licenses, displaying all licenses approved by the institution and presenting the documents required for issuing or renewal.

News developments

Bahrain: Draft VAT Exemptions Decision Approved

09/10/202009/10/2020
by Benjamin Filaferro

Bahrain’s Cabinet has approved a draft decision, which if further approved, would exempt the Bahrain Defence Force and Internal Security Forces imports from import VAT and customs tax fees. It follows a review of a memorandum submitted by the Interior Minister. The Cabinet also approved the Kingdom’s accession to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. The Convention enables Governments to modify existing bilateral tax treaties in an efficient way to eliminate double taxation.

News developments

Bahrain:Amendment of Decree Law No. 21/2001 on the Kingdom’s Commercial Companies

02/10/202002/10/2020
by Benjamin Filaferro

Bahrain’s King Hamad has approved a Law amending the Kingdom’s Commercial Companies Law. Bahrain Decree-Law No. 28/2020 will amend Bahrain Decree-Law No. 21/2001. The Prime Minister and the relevant ministers will be responsible for implementing the Law. It has been published in the Official Gazette and will come into force the day after it is issued.

News developments

Bahrain: Industry, Commerce and Tourism Ministry Restructured

25/09/202025/09/2020
by Benjamin Filaferro

Bahrain’s King issued has issued a Decree restructuring the Industry, Commerce and Tourism Ministry. Under Bahrain Decree No. 60/2020, Bahrain Decree No. 55/2019 restructuring the Industry, Commerce and Tourism Ministry will be repealed. The Industry, Commerce and Tourism Minister will be responsible for implementing this Decree. It will be published in the Official Gazette and will come into force on its issued date.

Weekly Spotlight

Bahrain: Flexible Work Permit Decision Issued

31/08/202031/08/2020
by Benjamin Filaferro

Bahrain’s Cabinet has approved a flexible work permit Decision.
It follows recommendations from the Coordinating Committee led by Bahrain’s Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister.
The Decision specifies the procedures for developing a permit policy for a foreign employer to practice some professional activities.

The aim is to develop this system and activate it in order to develop the labour market systems and its monitoring in the country. It is also aimed at enhancing job opportunities for citizens to make the country the first choice for employment, protect workers’ rights and prevent them from being exploited.
The procedures for developing the policy include intensifying inspection campaigns on foreign employers to ensure they do not work in professional activities which a foreign employer may not engage in without obtaining a permit. Inspection campaigns on informal workers will also be intensified to ensure the relevant measures are complied with.

Workers who do not comply with the regulatory procedures will not be able to apply for the flexible work permit and the registration of industrial motor vehicles used in construction and transport buses owned by holders of a flexible work permit will be terminated.

A committee consisting of representatives from the Labour and Social Development Ministry, the Finance and National Economy Ministry, the Industry, Commerce and Tourism Ministry, the Works, Municipalities Affairs and Urban Planning Ministry, the Electricity and Water Affairs Ministry, the Labour Market Regulatory Authority, BCCI and the Education and Training Quality Authority will be established. They will propose regulatory standards for 20 identified professions and any other professions the committee considers relevant to include. They will also share recommendations with the Supreme Council for the Development of Education and Training within two months.

News developments

Bahrain: Reorganisation and Bankruptcy Law Proposed

17/08/202017/08/2020
by Benjamin Filaferro

Bahrain’s Cabinet has proposed amendments to the Kingdom’s Reorganisation and Bankruptcy Law. The proposed amendments are contained in a draft law which has been submitted to the Council of Representatives to consider. If approved, it will amend Bahrain Law No. 22/2018.

News developments

Bahrain: Electronic Trade Law Amendment Proposed

08/08/202007/08/2020
by Benjamin Filaferro

Bahrain’s MP Ahmed Alsalloum who is the chairman of the financial and economic affairs committee has revealed his intention to propose an amendment to the electronic trade law. The aim of the proposal is to protect local traders against the international electronic trade. The MP has stated Bahrain needs to settle rules and regulations to create a balance between international electronic trade and local traditional trade.