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Articles by Jean Abboud
Saudi Arabia's Labour Law Amendments: What They Mean For Employers And Employees
Saudi Arabia's recent amendments to its Labour Law mark a shift toward a more structured, transparent employment environment. Set to take effect on February 18, 2025, these changes align with the Kingdom's Vision 2030 goals, aiming for a balanced labor market that encourages fair treatment, Saudisation, and improved work conditions. Here, we break down the core changes, their legal and practical impact, and key actions for businesses to ensure compliance.
Saudi Arabia’s labour law amendments: What they mean for employers and employees
Saudi Arabia’s recent amendments to its Labour Law are set to take effect on February 18, 2025. Getty Images
The Recent Changes To The KSA Labour Law
Saudi Arabia's recent amendments to its Labor Law signify a substantial shift in the regulatory landscape, presenting both challenges and opportunities for businesses operating in the Kingdom. As the Ministry of Human Resources and Social Development (MHRSD) continues its modernization efforts, these changes are designed to enhance worker protection while providing clearer, more flexible guidelines for employers.
Redefining BNPL: How SAMA's Regulations Are Shaping Saudi Arabia's FinTech Sector
The Saudi Central Bank (SAMA) has issued a decisive set of regulations to govern the burgeoning Buy Now, Pay Later (BNPL) sector in Saudi Arabia, marking a new era of legal oversight for this dynamic financial service. The global BNPL market, valued at $309.2 billion in 2023, while latest figures from Saudi Arabia show that the total gross merchandise value of goods sold with the Buy Now Pay Later (BNPL) service amounted to $2.3 billion in 2022 and is expected to surge dramatically.
Vision 2030 And The RHQ Program: Navigating New Opportunities And Exemptions For Multinational Corporations In Saudi Arabia
Saudi Arabia's ambitious Vision 2030 continues to unfold, with the Regional Headquarters (RHQ) Program playing a pivotal role in reshaping the Kingdom's business environment. The introduction of a 30-year tax exemption for multinational companies establishing regional headquarters in Riyadh marks a significant step in the Kingdom's commitment to becoming a central business hub.
Navigating The Proposed Changes In Saudi Arabia's Tax Landscape
As Saudi Arabia continues to align its economic framework with Vision 2030, significant proposed changes to the Income Tax Law (ITL) and related regulations have been introduced for public consultation. This Q&A aims to shed light on these developments, emphasizing that these are proposed drafts and not yet enacted laws. Q1: What are the key provisions of the proposed new tax law in Saudi Arabia?
Navigating The Changing Landscape Of Government Procurement In KSA
The Kingdom's regulatory environment is constantly evolving in response to the dynamic global business landscape. The most recent evolution comes in the form of a new set of controls aimed at regulating the contracts between government entities and foreign companies lacking a regional headquarters within the Kingdom. These regulations mark a transformative shift in the Kingdom's government procurement procedures and establish a clear framework for business engagements.
Foreign Ownership Of Real Estate In Saudi Arabia: The Freehold Boom
Introduction In the ongoing transformation journey under Vision 2030, the Kingdom of Saudi Arabia has strategically decided to move regional offices of international companies to the Kingdom. This major move has pought a significant influx of foreign executives and employees, thus posing a thought-provoking query regarding foreign ownership of real estate in Saudi Arabia. Until now, the Saudi landscape has been primarily dominated by national investors due to stringent regulations.
The KSA Regional Headquarters (RHQ) Program
The Saudi Arabian Vision 2030 is predicated on the development and diversification of the economy of the Kingdom of Saudi Arabia (Saudi Arabia). To realise Vision 2030, the Saudi Arabian government is relentlessly working to improve the country's socio-economic environment and expand economic opportunities to all citizens, including women.
The New Companies Law In The Kingdom Of Saudi Arabia: What To Expect.
On June 28, 2022, the Saudi Council of Ministers in the Kingdom of Saudi Arabia (the 'Kingdom' or 'KSA') approved the new Companies Law (the 'New Companies Law') under Saudi Arabia Cabinet Decision No.678/1443. The New Companies Law was approved and published in the official gazette on July 4, 2022, with the legislation expected to come into effect around December 31, 2022.
Marketing Medical Devices: An overview of Saudi Arabia’s law
Medical equipment regulations vary significantly from country to country, going from in-depth to completely non-existent. Over time, this disparity prompted a growth in the number of laws governing medical technology. In 1992, the Global Harmonisation Task Force (GHTF) was founded to push for the standardisation of medical device laws around the world. It was an informal coalition whose original members were the US, the European Union, Japan, Australia and Canada.
GCC Restructuring & Insolvency Report
To print this article, all you need is to be registered or login on Mondaq.com. Introduction The worldwide economic distress caused by the ongoing Covid-19 pandemic has certainly not spared the GCC region. The pandemic has exacerbated the region's pre-existing economic challenges, many of which date from the prior distresses that occurred ten years ago and were never fully remediated.
Update Saudi Companies Law
Saudi Arabia: Update Saudi Companies Law 07 June 2021 BSA Ahmad Bin Hezeem & Associates LLP Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com.
Clarified Legal Landscape For KSA Offers Investors Potential New Playground
To print this article, all you need is to be registered or login on Mondaq.com. Speedier commercial cases, reshaped economic rights for women and local HQ requirements all prove good news for cohesion in the region. International businesses that contract with the Kingdom of Saudi Arabia have only three years to set up regional headquarters in the country, it was recently decreed.
Saudi Central Bank Launches Open Banking Initiative - Finance and Banking - Saudi Arabia
Saudi Arabia: Saudi Central Bank Launches Open Banking Initiative 02 March 2021 by Nadim Bardawil and Jean Abboud BSA Ahmad Bin Hezeem & Associates LLP Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com. The Saudi Central Bank (SAMA) is launching a new initiative - Open Banking – that promises to stimulate growth and innovation in the Kingdom's financial services industry.
Saudi Arabian Labor Law Amended To Cover COVID-19
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Saudi Ministry Of Labor Decision To Regulate Contractual Relationship Between Employers And Their Employees
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Html.Raw(24-Hour Curfew In Major Saudi Cities Announced - Coronavirus (COVID-19) - Saudi Arabia)
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KSA The Premier Hub For Startups In MENA By 2030
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