Category: Legal Updates

February 13th, 2024
Legal Updates

Central Bank of Egypt takes a significant step in the fight against money laundering and terrorist financing

The Central Bank of Egypt takes a significant step in the fight against money laundering and terrorist financing with the issuance of new regulatory controls for banks. In line with international standards, these regulations aim...

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February 8th, 2024
Legal Updates

SECURITIES AND COMMODITIES AMENDMENT: ZOOM-IN ON ANTI-MONEY LAUNDERING MEASURES

The Securities & Commodities Authority recently issued an amendment to its regulatory Rule Book of Financial Activities and the Status Rectification Mechanisms (the “SCA Rulebook”) on 28 December 2023. The regulatory body diligently oversees the...

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February 5th, 2024
Legal Updates

COMESA SLAMS BEIN MEDIA GROUP FOR RESTRICITIVE BUSINESS PRACTICES IN THE MARKET

On the 25th of January 2024, the Common Market for Eastern and Southern Africa (“COMESA”) issued a press release on restrictive business practices in the field of football matches streaming. beIN Media Group LLC (“beIN”),...

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January 30th, 2024
Legal Updates

Saudi Authority for Intellectual Property issued new regulations governing the use of the name “Saudi Arabia”

The Board of Directors of the Saudi Authority for Intellectual Property (“Authority”) has recently issued new regulations governing the use of the name “Saudi Arabia” and the names of cities, regions, and public places in...

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January 25th, 2024
Announcements

Data Protection Overview on OneTrust Data Guidance in Kuwait is now available

Understand the intricacies of Kuwait’s ever changing data protection landscape with our comprehensive guide, “Kuwait-Data Protection Overview.” In collaboration with OneTrust Data Guidance, GLA & Company brings you a detailed and comprehensive exploration of the...

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January 23rd, 2024
Legal Updates

Egyptian Competition Authority Takes Stand Against Collusion and Monopolistic Practice

In the implementation of its 2021-2025 strategy, the Egyptian Competition Authority (“ECA”) has made an extremely impactful  decision, confirming collusion in the petroleum product distribution market. Two companies, owned by a state entity, have been...

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January 18th, 2024
Legal Updates

Finance Companies Regulation in the UAE

Introduction The Central Bank of the United Arab Emirates (“CBUAE”) has issued a new regulation to govern finance companies and restricted license finance companies by virtue of Circular No. 3 of 2023 (“Regulation”). The Regulation...

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January 15th, 2024
Legal Updates

Saudi Mandate Requires Private Sector Internships to Enhance Workforce Skills

In a significant move to address the critical issue of youth employability, Engineer Ahmed bin Suleiman Al-Rajhi, the Minister of Human Resources and Social Development (“MHRSD”), has recently issued a ministerial decision No. (51/M) issued...

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January 8th, 2024
Legal Updates

KSA New Buy Now Pay Later Rules

In furtherance of KSA’s 2030 vision, new set of rules regulating “buy now pay later” sector have been recently introduced by SAMA. The new rules contribute to the growth and sustainability of such sector while...

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