Category: Legal Updates
Digitalized Era and Electronic Transactions in the United Arab Emirates
The United Arab Emirates (the “UAE”) issued Federal Law No. 46 of 2021 which came into force on the 2nd of January 2022 (the “Law”). The Law aims to keep up with technological advancements to...
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The Central Bank of Kuwait Issues its New Instructions on the Electronic Payment of Funds
In May 2023, the Central Bank of Kuwait (“CBK”) has, by virtue of Decision No. 45/471 of 2023, amended the Instructions for Regulating the Electronic Payment of Funds (“New Regulatory Instructions“), which revokes the previous...
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Civil Transactions Law – Breaking Legal News in Kingdom of Saudi Arabia
The Kingdom of Saudi Arabia (“KSA”) Council of Ministers has approved the Civil Transactions Law (“CTL”) in its session on 13 June 2023. The CTL represents a new era in KSA jurisprudence. Currently, the General...
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New Regulations Regarding the Rectification of Unlicensed Industrial Facilities
Since 2017, Egypt has been witnessing a legislative transformation in respect to the regulatory framework governing industrial facilities. Law No. 15 of 2017 (“Law”) was issued to facilitate the issuance of industrial licenses by ensuring...
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New Visa and Residency Type in Kuwait for Sports, Cultural, and Social Activities
The Kuwait Minster of Interior has recently issued Ministerial Decree no. 484 of 2023 (the “Amendment“), amending the provisions of Ministerial Decree no. 957 of 2019 Concerning the Executive Regulations of the Foreigners’ Residency Law...
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Latest Developments in Saudi Arabia Merger Control
On 18/11/1444H (corresponding to 07/06/2023G), the General Authority for Competition (“GAC”) announced the reduction of the filling fees for examining economic concentration. The new reduced fees are set at 0.0002% of the total annual sales...
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Amendments to the Executive Regulations of Investment Law in Egypt
The Executive Regulations of Investment Law enacted by Prime Minister Decree No. 2310 of 2017 (“Executive Regulations”) has been recently amended by virtue of a Prime Minister’s Decree No. 2140 of 2023 (“Amendments”) to facilitate...
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Practical Legal Issues of Acquiring a Private School Business in Kuwait
Acquiring a private school business in Kuwait can be an intricate endeavor, fraught with challenges and practical considerations that extend beyond the legal framework outlined by laws and the regulators. While the laws and regulations...
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Kuwait Adopts New Decision to Incentivise Small Business Development
The Kuwait Ministry of Commerce and Industry (“MOCI”) has issued Decision No. 82 of 2023 (the “Decision”), which is intended to offer assistance and incentives to existing and newly established companies engaged in (i) activities...
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