Welcome to the Saudi Arabia focus edition of Law Update.
One of the key markets in the Middle East and North Africa (MENA) that continues to lead from the front is the Kingdom of Saudi Arabia (KSA). As the largest country in the Middle East and the 18th largest economy in the world, the progress KSA continues to make is underpinned by its Vision 2030 that envisions developing the country as an investment powerhouse and hub that ultimately connects Asia, Europe, and Africa. Given Saudi Arabia’s significance to the regional economy, our team of experts have prepared a range of pertinent articles that provide insights into new laws, regulations, and the legal landscape in the Kingdom.
This edition will provide you with an up-to-date guide on matters such as; the framework issued by the Saudi Central Bank on IT governance, the anti-corruption landscape under Vision 2030; we also provide practical tips for dispute avoidance. This is only a snapshot; there are many more articles within the KSA focus section for you to read, which we hope you will find valuable and enjoyable.Read the edition
DIFC Law No. 1 of 2020 and Leasing Regulations (“Leasing Law”) has recently been issued by the Dubai International Financial Centre (“DIFC”), to come into force on 14 January 2020.
The Leasing Law was foreshadowed by the Real Property Law (DIFC Law No. 10 of 2018), which amended the regime for the registration of leases with the Registrar of Real Property, but dealt with very limited aspects of leasing. This Leasing Law now supplements the existing Real Property Law and provides clarification to lessors and lessees of properties in the DIFC on their respective rights and obligations.
In particular, the Leasing Law sets out:
Al Tamimi & Company can provide advice on all aspects of the Leasing Law, including: