Insight Category: News
The latest changes to the relevant laws in the last two to three years raised the need for companies to become more acquainted with their expected obligations. Apart from the usual finance-regulated companies, the laws and regulations expect non-financial businesses and professions to be treated as regulated entities in the context of anti-money laundering. Rima… Continue reading AML Compliance and why you should care...
“Pacta sunt servanda” or “agreements must be kept”, is a fundamental general principle of law in both common and civil jurisdictions, which simply indicates that agreements should be binding for its signatory parties and executed in good faith. As a consequence, when a party fails to comply with its contractual obligations or acts in bad… Continue reading Compensation for Arbitrary Dismissal Between the New Labor Law and Recent Precedents...
Introduction Saudi Arabia has recently unveiled four new Special Economic Zones (SEZs) across the country, bolstering its reputation as a global business hub and providing significant opportunities for investors across key sectors. These SEZs form an integral part of the Kingdom’s Vision 2030 strategy, aimed at diversifying the economy, fostering innovation, and attracting international investments.… Continue reading Saudi Arabia’s Innovative Special Economic Zones Set to Propel the Kingdom’s Economy...
In this article, we look at some of the forthcoming changes to the Personal Data Protection Law in KSA and the impact that this may have on business operating in the country, with particular focus on the healthcare sector. In anticipating the impact of some of the changes, we will consider what businesses operating in… Continue reading Changes to Personal Data Protection Law in Saudi Arabia – Implications for the Healthcare Sector...
The following UAE Guide, was written for the International Bar Association (IBA) Banking Law Committee, and forms part of a global report. 1. Fintech regulatory framework: a summary of the most relevant laws and regulations concerning fintech and financial innovation. The United Arab Emirates (UAE) continues to hold its position as the leader in fintech… Continue reading FinTech: How is the world shaping the financial innovation industry...
In a significant move, the Central Bank of the United Arab Emirates has issued circular no. /3/ of 2023 (“Circular”), in pursuance of the Federal Decree-Law no. /23/ of 2022 amending Federal Decree-Law no. /14/ of 2018, whereby article 121 bis mandates that banks take the necessary securities from personal individuals or sole proprietorship before… Continue reading Abu Dhabi Courts Take Strong Stance Against Personal Guarantors as Central Bank Implements Security Requirements...
The implementation of corporate tax in the UAE is imminent and effective starting 1st June 2023. Federal corporate tax has been implemented in the UAE in an effort to advance the nation’s standing as a premier global centre for trade and investment as well as quicken the strategic goal of growth and transformation. In the… Continue reading UAE SME’s brace for new Corporate Tax Law...
Lawyer, positive-thinker and all-round go-getter, Nadia El Tannir is tackling all of life’s big issues head on and always with a big heart in this Raemona Magazine feature. NAME: Nadia El Tannir AGE: 30 years old JOB TITLE: Senior Associate at BSA Ahmad Bin Hezeem & Associates LLP A practicing lawyer for eight years, Nadia… Continue reading Raemona Magazine: Life Lessons – Nadia El Tannir...
The following article, written and published by ESG Mena features comments on greenwashing by BSA senior associate Robert Mitchley. As companies worldwide trumpet their ESG credentials and pledge net zero, many are failing to make good on their promises. Corporate greenwashing is rife, and it’s fuelling climate change with companies continuing to put profit before… Continue reading Turning the tide on greenwashing in 2023...