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We are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.Read the full edition
Al Tamimi & Company, the largest law firm in the Middle East, has officially opened its latest office in Bahrain, providing the firm with a permanent operational presence in all six GCC countries. The firm now has 14 offices, located in eight countries in the region.
Al Tamimi’s new Bahrain office will be led by Foutoun Hajjar, an English-qualified Solicitor and Barrister with 22 years of professional experience. She has spent the last nine years working in Bahrain in both private practice and in-house positions.
Bahrain’s economic outlook is encouraging, and in the non-oil sector in particular. According to the Bahrain Economic Development Board (EDB), the non-oil sector is expected to grow by more than 4% this year, driven by increased confidence, improving bank credit conditions, and several billion in new infrastructure projects. The EDB also forecasts that the country’s overall GDP to increase by approximately 3.7% in 2014.
Commenting, Husam Hourani, Managing Partner at Al Tamimi, said: “As a GCC firm, we are licensed to practice local law in Bahrain. Our opening in the country is particularly important as it marks our physical presence across the entire GCC.
“With global businesses choosing cities like Dubai, Abu Dhabi, Manama and Doha as their regional headquarters, we are supporting those decisions by providing the full range of contentious and non-contentious corporate legal services on the ground across all the major markets. Our lawyers know these local markets very well, and they have the specialist skills and experience needed to support our clients’ needs.
“We are delighted to be opening a permanent presence in Bahrain and look forward to supporting even more businesses and individuals in a market that is growing and offering exciting investment opportunities.”
H.E. Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive, Bahrain EDB, added: “We are delighted that Al Tamimi has decided to complete its presence across the GCC by opening in Bahrain. Our economy is growing, and in any growing market business activity needs to be supported by quality legal services that truly understand the region.
“Last year, the EDB alone attracted $114 million of foreign investment into the country from North America, Europe and Asia, and played a role in the establishment of 35 foreign firms in Bahrain, which highlights the robust investment opportunities available in the country. This positive momentum has continued in 2014, and I am pleased to now welcome Al Tamimi. We wish the firm all the very best of success in the future.”
Al Tamimi’s new office will be located in the prestigious Bahrain Financial Harbour.
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