Kuwait Archives - Page 18 of 33 - LexisNexis Middle East

Kuwait: New Decision Requires Pharmacies to Restrict Payments to Prevent Money Laundering

09/03/202309/03/2023
by Benjamin Filaferro

Arab Times, 5 March 2023: A new ministerial decision has been issued by Mazen Al-Nahedh, the Minister of Trade and Industry, to prevent money laundering activities.

Private pharmacies and other entities operating in the drug control sector are required to limit the use of “Knet” as a means of payment to amounts exceeding 10 dinars.

Cash payments for any sale are also limited to amounts below 10 dinars.

Any violation of this decision may result in the imposition of penalties and measures in accordance with relevant laws and decisions by the supervisory authority.

For the full details, click here.

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News developments

Kuwait: Capital Market Launches Reporting Service

02/03/202302/03/2023
by Benjamin Filaferro

Alanba, 24 February 2023: The Capital Market Authority has recently launched an application called “Sahel,” which offers a reporting service for crimes and violations as defined by Kuwait Law No. 7/2010 On the Establishment of the Capital Market Authority and Regulation of Securities Exchange Activity.

The service’s primary aim is to facilitate the reporting of crimes and violations by providing an easy-to-use platform for individuals to provide full details, including time, location, and any other pertinent information.

For the full details, click here.

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News developments

Kuwait: Circular Issued on Conflict of Interest

23/02/202323/02/2023
by Benjamin Filaferro

On 16 February 2023, Kuwait’s Capital Market Authority has published a new circular on conflict of interests on its website.

The circular aims to determine and regulate circumstances in which companies and their employees will be considered to be in a conflict-of-interest situation, including companies to which the state or other public agencies contribute.

It has also specified disclosure requirements.

The Authority has confirmed in the circular that all companies subject to supervision according to the provisions of Kuwait Law No. 7/2010 On the Establishment of the Capital Market Authority and Regulation of Securities Exchange Activity, its Executive Bylaws and their amendments must comply with the provisions of Kuwait Law No. 1/2023 Concerning the Prevention of Conflicts of Interest on written notification upon the occurrence of a conflict.

For the full details, click here.

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News developments

Kuwait: Committee to Investigate Investment Authority Violations Established

16/02/202316/02/2023
by Benjamin Filaferro

Alqabas, 12 February 2023: Kuwait’s Finance Minister and the Chairman of the Investment General Authority Board have issued a decision to form an investigations committee to investigate business violations which fall under the Board’s authority.

The committee, which will be chaired by Ahmed Alkhadeer, will be responsible for investigating Future Generations and Public Reserves management violation claims.

They will also audit the authority’s procedures to in order to address comments made by the Auditing Authority.

The Rain House Company for Infrastructure and the Saint Martin Company’s management, which are both owned by the authority, will also be investigated.

For the full story, click here.

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News developments

Hot off the Press: Get the Inside Scoop with the Latest Edition of Lexis® Middle East – HR Alert!

16/02/202316/02/2023
by Benjamin Filaferro

Get ready to stay ahead of the game with the newest issue of our top-rated HR magazine – the Lexis® Middle East – HR Alert! This must-read publication offers exclusive updates on the most recent labour and employment law changes and cases, as well as invaluable advice on region-specific HR policies and templates.

From informative interviews with renowned regional HR professionals to expert guidance on the latest industry trends, this complimentary magazine has it all. Don’t miss out on your chance to gain a competitive edge – get your hands on the latest edition of the HR Alert now!

In this edition:

Foolish to Fake It

New Emiratisation regulations are in place as of January 2023, but some employers are trying to bypass them. Learn about the negative consequences from Dr Laura Voda and Maquelin Pereira of Fichte & Co.

Meet Me in the Metaverse

UAE Technology Recruitment specialist Marc Ellis has set up a replica of their office in the Metaverse. Learn about their experiences in this exciting new virtual space.

Immigration Focus: Recent GCC Immigration and Visa Changes

Stay informed on the latest immigration updates in the GCC with Vialto Partners. Keep track of changes and make sure you comply with new regulations.

Immigration Profile: Embracing Change

Anir Chatterji, Partner at Vialto Partners, shares insights on how the Russia-Ukraine war and evolving GCC immigration policies have impacted his work. Stay ahead of the curve with expert analysis.

Law Changes: New and Proposed MENA Laws – Health Insurance

Stay on top of the latest legal changes in the MENA region! Learn how Dubai Administrative Decision No. 78/2022 is impacting health insurance rights for employers from experts Bassem Daher and Yara Hifni of Galadari Advocates & Legal Consultants.

HR Profile: Attract and Retain

Maisa Maarouf, Head of HR & Administration at BSA Ahmad Bin Hezeem & Associates LLP, shares the importance of staff retention initiatives in her work. Learn how to attract and keep top talent.

Practitioner Perspective: Recent Reforms in Saudi Arabia

Stay informed on the latest labour laws in Saudi Arabia! Check out Clyde & Co’s MEA Employment Partner, Sara Khoja’s insights on the fundamental reforms that could make it easier for employers to attract top talent.

Moves and Changes

Stay up-to-date on the latest business happenings with our round-up of moves, changes, appointments, and promotions.

Policy Pointers: Probation Policies

Probation periods in employment contracts give employers time to evaluate new hires and employees a chance to review their work conditions before committing long-term. Typically lasting 3-12 months. Get policy pointers from expert Sulakshana Senanayake of Afridi & Angell for similar policies in the DIFC.

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Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

LexisNexis Middle East HR Alert_January 2023

Have you read the Lexis® Middle East HR Alert – June and September 2022 editions? Click the links below to access and read these editions.

LexisNexis Middle East HR Alert – November 2022

LexisNexis Middle East HR Alert – June 2022

LexisNexis Middle East HR Alert – September 2022

News developments

Kuwait: Municipality Law Amended

09/02/202309/02/2023
by Benjamin Filaferro

Alqabas, 4 February 2023: Kuwait’s Municipality has planned to increase punishments and penalties imposed on property owners who violate the Building Code by transferring their private housing into an investment property.

Based on these amendments, property owners, engineering offices, consultancy firms, engineers, or contractors who violate the building code will be fined a minimum of 100 Dinars up to 5,000 Dinars.

In all cases, the offenders must correct the violation at their own expense. In addition, the power supply will also be cut from non-compliant buildings.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

Kuwait: Action to be Taken Against Some Doctors

02/02/202302/02/2023
by Benjamin Filaferro

Kuwait Times, 30 January 2023: The Kuwait Ministry of Health is to take disciplinary action against doctors who have conducted medical examinations and x-rays on expatriates without charging the necessary fees.

These fees are usually collected by health staff before the treatment is given. However, it was found some doctors had let relatives and friends who were expats use these services without charging them. Steps taken would include referring these doctors to an investigation at the ministry or referring them to the Public Prosecution in the case of repeat offences.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

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News developments

Lexis® Middle East Law Alert: January/February 2023 Edition Released

31/01/202331/01/2023
by Benjamin Filaferro

We are pleased to share the January/February 2023 edition of our law magazine, the Lexis® Middle East – Law Alert!

The Law Alert is a complimentary magazine that keeps readers updated on the MENA region’s legal, financial and fiscal developments and hot topics.

In this edition:

Evidently Electronic: The New UAE Evidence Law

Are you ready for the digital revolution? The UAE government has just passed a law to allow electronic evidence in court procedures. Taha H Tawawala and Amer Al Marzooqi of Amer Al Marzooqi Advocates & Legal Consultants LLC-SO explain how this will revolutionise the legal system.

Legal Round-Up: Covering Recent Key Legal Developments (Region-Wide)

Keep up with the latest legal developments in the region! Our legal round-up covers all the key news so that you can stay informed.

Tax and Finance Round-Up: Covering Recent Key Tax and Finance Developments (Region-Wide)

Stay up-to-date on regional tax and finance developments with our latest round-up, supported by Aurifer Middle East Tax! Get the latest news and insights on key developments from the region.

Director Directions: Amendments to the Bahraini Corporate Governance Code

Reem Benshams of Zu’bi and Partners breaks down the key changes in Bahraini Corporate Governance Code amendments that companies must comply with during their AGM Report Submissions to the Ministry of Industry and Commerce (MOIC).

In-House Profile: Technology

Riyadh Al Habshan, GM of Legal Affairs at Solutions by STC, explains why it’s essential to stay up-to-date on legislative and regulatory changes in the tech sector. Find out how tracking these changes can help manage risk and ensure compliance!

Saudi Data Protection Law

Saudi’s Data Protection Law is undergoing some major changes! Lamisse Bajunaid and Amna Usman of Dr Qaisar H Metawea Law Firm explain the key developments and what to expect when the Executive Regulations are issued.

Movers & Shakers: A Round-Up of the Top Appointments and Promotions

Check out our latest round-up of the top movers and shakers from the world of legal appointments and promotions, brought to you by Jameson Legal. Who’s been promoted, who’s been appointed and who’s moving on? Find out now!

Dispute Resolution Focus: A Long and Illustrious Career

After 35 years in the advocacy field, Ali Al Aidarous of Al Aidarous Advocates & Legal Consultants reflects on a long and illustrious career. Tune in to hear what he says about his highlights in dispute resolution cases and updates!

Dispute Resolution Focus: Civil Changes

Welcome the new year with a new Civil Procedure Law in the UAE! Waleed Hamad of Al Aidarous Advocates & Legal Consultants is here to provide an overview of its main provisions.

Contract Watch: Patent Filing

Gowling WLG‘s Noor Hassan shares how filing a UAE patent or design application is now easier for non-UAE-based applicants, with new requirements in place to make the process cheaper. No more costly PoA, DoA, and commercial register/license extractions!

We thank Aurifer Middle East Tax for keeping their finger on the pulse of tax developments across the region and Jameson Legal for supporting movers and shakers across the region.

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Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Lexis Middle East Law Alert January-February 2023

Explore the past editions of the Lexis® Middle East Law Alert and stay up-to-date with the latest news! Click the link below for instant access to older editions.

Lexis Middle East Law Alert October-November 2022

Lexis Middle East Law Alert_July-August 2022

News developments

Kuwait: E-Visa for Umra Issued to Residents

23/01/202323/01/2023
by Benjamin Filaferro

Alanba, 18 January 2023: Kuwait’s Awqaf and Islamic Affairs Ministry, represented by the Hajj and Umrah Affairs Department, has announced that based on directives issued by the Saudi authorities, Kuwait residents can obtain electronic visas for Umra prior to arriving in Mecca by registering their biometric details.

The Ministry has stated that biometric registration is available to visitors from the UK, Tunisia, Kuwait residents, Malaysia, and Bangladesh.

Registration can be completed via the Saudi Visa Bio application, which registers the face, the eye, the fingers, and the passport.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

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News developments

Kuwait: Government Boycotts Assembly Saying it was Prevented from Giving Views on Bills

16/01/202316/01/2023
by Benjamin Filaferro

Kuwait Times, 11 January 2023: Kuwait’s National Assembly has been adjourned until 24 January 2023 after the government boycotted the 11 January 2023 session, saying it was not allowed to give its opinion on bills that have financial costs.

The boycott comes a day after ministers walked out of the Assembly chamber after calling on the Assembly to send several draft laws with substantial financial costs back to parliamentary committees so they can provide their constitutional and financial opinions.

This request was rejected by the Assembly, prompting the walkout. At least one minister must be present for Assembly sessions to be convened.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.