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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
Last month, Iraq became listed as a member state to the Cape Town Convention (the “Convention”) it ratified back in 2018 through completing the formalities and making the declarations under Articles 39(1)(a) and 54(2) of the Convention and Article XXX (1) and (2) of the Aircraft Protocol (the “Protocol”). The Convention and the Protocol, read as a single instrument, is a treaty that sets the international standards in protecting the financial interests of aircraft sellers, buyers, and creditors through an international electronic interest registration system (the “International Registry”).
As Iraq deposited its instruments of accession to the Convention and Protocol on 26 January 2023, it has since been listed as a member state to the Convention. Once the Convention and Protocol enters into force on 1 May 2023, interests in Iraqi aircrafts will be available for registration on the International Registry. Such registrable interests include new and prospective international interests and rights, and assignments of the same.
Al Tamimi & Company’s Aviation team has extensive experience in the Middle East and North Africa (MENA) region on leasing, financing and chartering of aircraft as well as a wide range of involvement in advising local and international airlines for cargo and personal injury claims. For further information on this sector or for any inquiries for assistance, please contact our team.
Partner, Transport & Insurancey.email@example.com
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