Saudi Arabia is undergoing significant reform, orientated at galvanising the country through its process of large scale regeneration and modernisation as the authorities pursue their strategic vision to move the Kingdom away from its historical reliance on oil.

In this final update in the series, we look at legal and regulatory developments in Egypt, the Kingdom of Bahrain, the Kingdom of Saudi Arabia and Sultanate of Oman.

Our regional theme this quarter analyses how Iran has been impacted by the re-imposition of sanctions, lower oil prices and coronavirus (COVID-19). We look at how the country’s relationships will change in the region and internationally, and highlight what we see as we look at beyond COVID-19 to determine risks and potential opportunities.

SCA issues regulations on conduct of Suitability and Appropriateness Assessments

Based on the directives received from Ministry of Health & Protection ("MOHAP”), and several Dubai Health Authority (“DHA”) circulars, all DHA licensed health facilities must classify any confirmed or suspected 2019-nCoV (“Coronavirus”) cases as emergency cases within the following two categories:

Developments in 2019 suggest that the regulation of work and the employment relationship will continue to be an area of focus as the Kingdoms of Saudi Arabia and Bahrain move into a new decade and compete regionally and internationally for foreign investment and talent.

As part of the Saudi Arabian Monetary Authority’s (“SAMA”) endeavours to achieve the objectives of the financial sector development program, which is one of the pillars of KSA’s 2030 vision, SAMA has issued the Payment Services Provider Regulatory Guidelines (the “PSP Guidelines”). The PSP Guidelines will enable the licensing of non-banking financial institutions such as payment companies and will regulate the provision of payment services in...

Under the patronage of the Custodian of the Two Holy Mosques, the Saudi Railway Company (SAR) highlighted, on the 28th and 29th of January 2020, the main features of Saudi Arabia’s competitiveness in logistic services, and the most important transportation and infrastructure projects taking place in the country. The first-of-its-kind took part in the presence of a number of ministers, officials from international organizations and companies...

In light of the Dubai Land Department’s continuous endeavours to simplify and improve the registration services of real estate rights in Dubai, Majid Al Mirri, CEO, Real Estate Registration and Real Estate Services, issued Circular Number R/102/2020 concerning the registration of Initial Sales Contracts (“Circular”).

Saudi Arabia’s 2020 fiscal budget highlights the authorities’ aim to meet their balanced budget target by 2020 in a phased manner and with lesser impact on economic growth.