Oman Archives - Page 12 of 34 - LexisNexis Middle East

Lexis Middle East Law Alert: May/June 2024 Edition

13/06/202413/06/2024
by Tanya Jain

Welcome to the May/June 2024 edition of LME Law Alert, your complimentary source for the latest legal insights and updates in the MENA region. In this edition, we delve into groundbreaking legislation on digital assets in the DIFC, explore the impact of Oman’s new financial services regulator, and provide a comprehensive overview of recent legal developments across the region.

Our expert contributors offer in-depth analyses on a variety of topics, including dispute resolution, tax and finance, and contract management. We also feature an exclusive profile of Suzi Duncan from Novartis, discussing the challenges of working in a rapidly evolving sector.

Stay informed with our meticulously curated content, designed to keep you ahead in the ever-changing legal landscape.

FEATURE: TACKLING THE WINDS OF CHANGE

Dixon Melitt James of Elint AI provides an in-depth analysis of groundbreaking legislation on digital assets issued in the DIFC, exploring its implications for the financial sector.

FEATURE: RULES AND REGULATIONS

Phoebe Lim, Debopam Dutta, Salman Ahmed, and Benjamin O’Brien-McQueenie of Trowers & Hamlins discuss the impact of a new financial services regulator in Oman, detailing the changes and their potential effects on the industry.

IN-HOUSE PROFILE: ALL CHANGES

Suzi Duncan, Senior Legal Counsel for the GCC region at Novartis, shares her experiences working in a rapidly developing sector within fast-moving jurisdictions.

DISPUTE RESOLUTION FOCUS

Waleed Hamad, Head of Litigation, and Myriam Simon, Senior Counsel – Litigation at Al Aidarous, discuss lessons from a significant Federal and Local Judicial Principle Unification Authority ruling on the executive nature of unpaid cheques.

DISPUTE RESOLUTION FOCUS: STRIKING A BALANCE

Waleed Hamad and Myriam Simon of Al Aidarous examine the crucial role of banks in providing financial facilities while maintaining regulatory safeguards for the public interest.

MOVERS AND SHAKERS

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 is been promoted, who is been appointed, and who is moving on?

CONTRACT WATCH: UNFORESEEN EMERGENCIES

Chatura Randeniya of Afridi & Angell offers insights on managing unforeseen emergencies in contractual agreements, providing practical advice for legal practitioners.

Thanks to Al Aidarous for keeping us updated on dispute resolution cases.

Lexis Middle East Law Alert_May/June 2024 Edition

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

Lexis Middle East Law Alert January-February 2023

Lexis Middle East Law Alert March-April 2023

Lexis Middle East Law Alert_May June 2023

Lexis Middle East Law Alert_July August 2023

Lexis Middle East Law Alert_January-February 2024

TAX AND FINANCE ROUND-UP

An update on significant tax and finance developments across the region, including changes to the FMT procedure.

LEGAL ROUND-UP

Stay informed with our legal round-up, providing a comprehensive overview of recent developments across the region, with a spotlight on the new jurisdictional conflict law in Dubai.

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

News developments

Oman: Central Bank Joins Gulf Payments System “Aafaq”

07/06/202407/06/2024
by Tanya Jain

Al-Bayan, 2 June 2024: Oman’s Central Bank has announced that it is joining the Gulf Payments System ‘Afaq’.

Afaq is operated by the Gulf Payments Company owned by the central banks of the GCC countries for cross-border transfers in local Gulf currencies.

This comes within the framework of the bank’s efforts towards developing cross-border payment systems and adopting the latest technologies in this field in a way that improves efficiency and speed and contributes to reducing costs.

For the full story, click here.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your Free Trial.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

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

News developments

Lexis Middle East HR Alert – May 2024 Edition

05/06/202405/06/2024
by Tanya Jain

Welcome to the May 2024 edition of Lexis Middle East – HR Alert!

Our complimentary publication is your go-to resource for staying informed on the latest Labour and Employment developments in the MENA region. In this edition, we provide a thorough overview of recent HR updates and key cases, alongside valuable insights into regional HR policies and laws. Stay empowered and well-informed with our meticulously curated content designed to keep you ahead in the evolving HR landscape.

This month, we explore how Saudi employers can utilise the Ajeer platform to manage temporary workers. Experts from Dentons and 11KBW discuss the legal risks of off-channel communications. We cover key regional developments, including DIFC immigration rule changes, and present survey findings on localisation trends in the GCC. Our law changes section highlights new insider trading rules from the Qatar Financial Markets Authority, and we analyse a significant case on freelance versus employee status. In our HR profile, Mpho Netshiombo from KPMG Bahrain discusses evolving recruitment strategies. Additionally, we review major HR moves across the region and provide practical advice on managing HR policies during adverse weather.

Stay informed with the latest insights and updates in this edition of Lexis Middle East HR Alert.

This edition features a diverse range of content, including:

Feature: Temporary Positions

Sara Khoja, Sarit Thomas, and Faisal Alassiri of Clyde & Co provide a comprehensive guide on leveraging the Ajeer Platform. They explain how this tool helps Saudi employers manage temporary workers more effectively and in compliance with regulations.

Trend Setter – Off-Channel Communications

Shiraz Sethi, Regional Head of Employment at Dentons, along with barristers Amy Rogers KC and Tom Ogg of 11KBW, discuss the increasing legal risks posed by off-channel social messaging. They offer insights into how employers can mitigate these risks.

News Round-up: Covering Recent Key Developments – Region-Wide

Stay abreast of recent developments, including employment-related matters, highlighting notable changes in Kuwait’s approach to part-time working.

Immigration Focus: Survey – Localisation Trends

This section highlights the findings of a recent survey conducted by Vialto Partners and Lexis Middle East. It provides key insights into localisation policies and trends in the GCC.

Case Focus

An analysis of a pivotal case that addresses the distinctions between freelance and employee status, offering critical insights for HR professionals navigating these classifications.

Law Changes: New and Proposed MENA Laws

Highlighting significant legal modifications across the MENA region. Reeda Halawi of Sultan Al–Abdulla & Partners examines the new insider trading rules introduced by the Qatar Financial Markets Authority through Decision No. 2/2024, explaining their implications for businesses.

Case Focus

A specific case, Miskofi v Milbart, in the Dubai International Financial Centre (DIFC) Small Claims Tribunal is examined, showcasing how discrimination and victimisation cases are handled, recommended by Ayesha Karim.

Enrich your understanding of the HR landscape and stay up-to-date with the latest trends, cases, and policies through the newest issue of Lexis Middle East – HR Alert.

For all the latest industry updates and developments, opt for a free HR Alert subscription!

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

Lexis Middle East HR Alert_May 2024

Have you read the Lexis® Middle East HR Alert – previous 2023 editions? Click the links below to access and read these editions.

LexisNexis Middle East HR Alert_January 2023

LexisNexis-Middle-East-HR-Alert_March-2023

LexisNexis Middle East HR Alert_May 2023 Edition

Lexis Middle East HR Alert – August 2023 Edition

Moves and Changes

A summary of significant HR movements and changes across the region, highlighting notable appointments and transitions within major organisations.

Policy Pointers: Adverse Weather

Sarah Malik from SOL International Ltd offers practical advice on managing HR policies related to adverse weather conditions. She emphasises the importance of preparedness and compliance to mitigate the impact on businesses.

HR Profile: Recruitment in an Evolving Market

Mpho Netshiombo, Head of People, Performance, and Culture at KPMG Bahrain, discusses how recent legal and market changes have impacted recruitment strategies. He shares his approach to talent development, management, and engagement in this evolving landscape.

News developments

Oman: Company Transformation Incentives

31/05/202431/05/2024
by Tanya Jain

Shabiba, 28 May 2024: The Sultan has issued directives on an incentive programme which would provide a number of benefits designed to encourage companies which wished to convert to public joint-stock companies and list on the capital markets

This would see the establishment of a sub-market in the Muscat Securities Market called the “Promising Companies Market” which would target private, family-owned, small, medium and start-up companies. There would also be an initiative for limited liability companies that wished to convert into closed joint-stock companies by offering a package of incentives.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your Free Trial.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

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

News developments

Oman: Regulations Amended to Support Liquidity Fund

23/05/202423/05/2024
by Tanya Jain

Shabiba, 16 May 2024: The Muscat Stock Exchange has celebrated by ringing the bell for the inauguration of a “Liquidity Development Fund”.

The fund aims to improve the liquidity of shares of companies listed on the stock exchange.

The launch of the fund aligns with the ongoing developments in the Omani capital markets, which include the announcement of several new IPOs and the introduction of regulations governing market-making operations.

The Muscat Stock Exchange is intensifying its marketing efforts with regional campaigns and incentive initiatives.

This involves making significant changes to certain regulatory requirements for capital markets, especially regarding taxes on distributed profits. For the full story, click here.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your Free Trial.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

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

News developments

Oman: Draft Media Law Discussed With Information Ministry

17/05/202417/05/2024
by Tanya Jain

The State Council, in collaboration with the Information Ministry, has discussed the draft version of the new media law.

The draft media law aims to include updates and recent developments since the last issuance of media regulations.

It is designed to serve as comprehensive legislation governing the media sector in Oman.

Discussions have also included, the potential impact of the draft law on the media industry, its role in improving Oman’s international ranking in terms of freedom of expression, and the regulation of procedures for licensing media-related activities.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your Free Trial.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

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

News developments

Oman: Amendments to Oman Sultani Decree No. 30/2008

10/05/202410/05/2024
by Tanya Jain

Roya, 2 May 2024: The National Committee for Family Affairs has approved amendments to Oman Sultani Decree No. 30/2008 the law on juvenile accountability, along with amending some provisions agreed upon by the participating parties.

The committee has also addressed matters on educational disruptions and approved the social responsibility program of the Omani Football Association, particularly in regard to child protection.

Additionally, it has reviewed programs offered to families and children by the Culture, Sports, and Youth Ministry for the upcoming summer period.

for the full story, click here.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your Free Trial.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

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

News developments

Oman: Consumer Regulator Launches Inspection Drive

03/05/202403/05/2024
by Tanya Jain

Oman Observer, 25 April 2024: The Omani Consumer Protection Authority (CPA) has launched an inspection campaign in the Governorate of Muscat.

This campaign involves using electronic technical connections being used by field inspection teams, and surprise visits to different sectors, such as vehicle repair workshops, those providing spare parts, vehicle oils and tires, and air filters. In addition, the aluminum sector, blacksmiths, carpenters, kitchens, the electrical and electronic appliances sector, building materials sectors, restaurants, cafes, and meat shops will also be targeted.

The campaign aims to ensure that commercial centres and shops are comply with the Consumer Protection Law Oman Sultani Decree No. 66/2014, and aims to reduce the number of complaints and save time and effort for all parties involved.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your Free Trial.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

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

News developments

Oman: New Real Estate Framework Plans

19/04/202419/04/2024
by Tanya Jain

Oman Observer, 13 April 2024: Omani Ministry of Housing and Urban Planning will implement eight initiatives and prepare laws and regulations which will regulate real estate and related activities in Oman.

The Ministry aims to unify regulations on real estate development, brokerage, evaluation, owners’ associations, and escrow accounts under a single legal system which would be entitled Real Estate Regulatory Law in Oman.

The most significant of these initiatives is the regulation of the real estate valuation sector. Controls and standards have been established to regulate real estate valuation companies and offices in Oman. These companies have been classified, and highly qualified real estate appraisers have been put in place to organise and control the real estate market. The aim is to conduct fair and accurate valuation of land and properties. In addition, a draft regulation has also been prepared with the help of relevant authorities.

The initiative on governance of real estate brokers aims to regulate real estate broker companies and reduce unlicensed real estate agencies. The proposed draft is expected to be submitted to the Justice and Legal Affairs Ministry by the end of 2024.

The Ministry is also working on the final draft of regulations on the Real Estate Registry Law. This initiative aims to regulate real estate registry and keep up with digital transformation of transactions. It will set controls and conditions for regulating real estate registry in line with the Land Registry Law in Oman.

In addition, the ministry will finalise regulations on the expropriation law for public benefit and review the executive regulations so they align with the next phase. The aim is to issue regulations on the expropriation law for the public interest within the course of 2024.

There are also plans to introduce an integrated Urban Planning Law, and executive regulations. .

The ministry also intends to prepare a Housing Law and executive regulations. This aim is to unify laws on to social housing and land usage in Oman under a unified framework, which can adapt to future changes.

The Ministry will also be conducting a study into the governance of foreigners’ ownership of usufructs for a period of 99 years, and aims to provide foreigners with the opportunity to own usufructs outside integrated tourism complexes in specified areas.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your Free Trial.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

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

News developments

Lexis Middle East Law Alert: January/ February 2024 Edition

15/04/202415/04/2024
by Tanya Jain

Welcome to the March – April 2024 issue of Lexis Middle East Law Alert, where we shed light on the legal dynamics of the region through thorough analysis and expert perspectives. In this issue, we embark on a journey through the ever-changing landscape of law, uncovering significant developments, landmark cases, and emerging trends that shape the legal framework of the Middle East.

From the complexities of privatisation in Saudi Arabia to the evolving regulations in advertising across Kuwait, our features offer valuable insights into key sectors and legal domains. We delve into case studies, scrutinise legislative updates, and offer practical guidance from esteemed legal experts, equipping our readers with the knowledge to navigate the intricacies of today’s legal landscape.

FEATURE: THE PATH TO PRIVATISATION

Madawi Mohammed Alfawzan of Mohammed Alaqeel & Co Law Firm sheds light on the recently issued implementing regulations and guidelines of the Saudi Arabian Privatisation Law. Explore how these regulations are paving the way for a smoother journey towards privatisation.

FEATURE: FOCUS ON ADVERTISING

Noura Al-Yaqout of Al Yaqout and Al Fouzan Legal Group examines the impact of new advertising regulations in Kuwait. Discover the key changes and their implications for businesses in promoting their products.

FEATURE: CASE FOCUS

Delve into a case involving a letter of intent, unraveling the legal intricacies surrounding this crucial aspect of business agreements.

IN-HOUSE PROFILE

Meet Robin Singh, Head of Regulatory Affairs and Privacy at Abu Dhabi Health Services Company (SEHA), as he navigates uncharted waters in healthcare amidst advancing technology.

DISPUTE RESOLUTION FOCUS

Contractual Termination: Sadique Mohd and Gago Rigga of Al Aidarous provide insights into contract termination in construction contracts.
Arbitration Focus: Sadique Mohd and Safia Abdalla of Al Aidarous explore the pitfalls of construction arbitration.
ADGM Expansion: Waleed Hamad and Myriam Simon of Al Aidarous analyse the legal implications of the ADGM Court’s Jurisdictional expansion and coverage of Al Reem Island.

MOVERS AND SHAKERS

CONTRACT WATCH: ARBITRATION CLAUSES

Contributor Aiman A Khair, Legal Counsel at Qatar Stock Exchange, offers insights into derivative contracts in our Contract Watch segment.

Thanks to Jameson Legal for supporting individuals and businesses, and Al Aidarous for keeping us updated on dispute resolution cases.

Lexis Middle East Law Alert_March April 2024

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

Lexis Middle East Law Alert January-February 2023

Lexis Middle East Law Alert March-April 2023

Lexis Middle East Law Alert_May June 2023

Lexis Middle East Law Alert_July August 2023

Lexis Middle East Law Alert_January-February 2024

TAX AND FINANCE ROUND-UP

Get updated on the taxation of foreign banks in Dubai and other key developments in the region’s tax and finance landscape. We provide an in-depth analysis of the significant developments influencing the financial landscape in the Middle East.

LEGAL ROUND-UP

Stay informed with our legal round-up, providing a comprehensive overview of recent developments across the region. Stay informed with our comprehensive legal round-up, covering significant developments such as the DIFC Digital Assets Law.

Want to receive more content? Subscribe to our newsletter here!

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