Decision No.1 of the QCB Governor on the procedures for regulating the moveable assets security register (the “Regulations”) was issued on the 19th of April 2022 and is now effective. The Regulations have been issued pursuant to Article 6 of Law No. 6 of 2021 (the “Moveable Assets Security Law”) and represents a shift to an electronic system for the registration of security over moveable assets.
The Qatari Ministry of Commerce and Industry has recently issued two new Circulars covering certain procedural aspects relating to public and private shareholding companies. Both Circulars were by the Head of the Companies Affairs Department on 1 February 2022.
Qatar Central Bank (“QCB”) has issued Circular No. 23 of 2021 pursuant to which it has issued the Payment Services Regulations (“Payment Services Regulations”). The Payment Services Regulations came into force on 15 September 2021.
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The COVID-19 pandemic has catalysed diversification throughout the GCC on an unprecedented scale. This is an extremely welcome development. Indeed, COVID-19 has exposed the region’s digital laggards, prompting governments to place digitalisation at the core of their national strategies as a means of survival.
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The KSA Zakat, Tax and Customs Authority has on 2 July 2021 issued an immediately effective new decision No. 3852 (the “Decision”) setting new customs regulations. The Decision relates to GCC countries only.
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The European Court of Justice’s recent “Schrems II” decision (case C-311/18) has attracted a lot of attention in data protection circles. One of the key outcomes of the decision is that it removes one of the grounds upon which European entities could legitimately transfer personal data to certain entities in the United States.
In January 2019 the Qatari Civil Court of First Instance issued an interesting judgment in relation to the enforcement of possessive mortgages in which it confirmed a very important principle related to the recognition of the expeditious enforcement of possessive mortgages.