Category: Legal Updates
SECURITIES AND COMMODITIES AMENDMENT: ZOOM-IN ON ANTI-MONEY LAUNDERING MEASURES
The Securities & Commodities Authority recently issued an amendment to its regulatory Rule Book of Financial Activities and the Status Rectification Mechanisms (the “SCA Rulebook”) on 28 December 2023. The regulatory body diligently oversees the...
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COMESA SLAMS BEIN MEDIA GROUP FOR RESTRICITIVE BUSINESS PRACTICES IN THE MARKET
On the 25th of January 2024, the Common Market for Eastern and Southern Africa (“COMESA”) issued a press release on restrictive business practices in the field of football matches streaming. beIN Media Group LLC (“beIN”),...
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Saudi Authority for Intellectual Property issued new regulations governing the use of the name “Saudi Arabia”
The Board of Directors of the Saudi Authority for Intellectual Property (“Authority”) has recently issued new regulations governing the use of the name “Saudi Arabia” and the names of cities, regions, and public places in...
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Data Protection Overview on OneTrust Data Guidance in Kuwait is now available
Understand the intricacies of Kuwait’s ever changing data protection landscape with our comprehensive guide, “Kuwait-Data Protection Overview.” In collaboration with OneTrust Data Guidance, GLA & Company brings you a detailed and comprehensive exploration of the...
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Egyptian Competition Authority Takes Stand Against Collusion and Monopolistic Practice
In the implementation of its 2021-2025 strategy, the Egyptian Competition Authority (“ECA”) has made an extremely impactful decision, confirming collusion in the petroleum product distribution market. Two companies, owned by a state entity, have been...
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Finance Companies Regulation in the UAE
Introduction The Central Bank of the United Arab Emirates (“CBUAE”) has issued a new regulation to govern finance companies and restricted license finance companies by virtue of Circular No. 3 of 2023 (“Regulation”). The Regulation...
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Saudi Mandate Requires Private Sector Internships to Enhance Workforce Skills
In a significant move to address the critical issue of youth employability, Engineer Ahmed bin Suleiman Al-Rajhi, the Minister of Human Resources and Social Development (“MHRSD”), has recently issued a ministerial decision No. (51/M) issued...
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KSA New Buy Now Pay Later Rules
In furtherance of KSA’s 2030 vision, new set of rules regulating “buy now pay later” sector have been recently introduced by SAMA. The new rules contribute to the growth and sustainability of such sector while...
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WHAT TO EXPECT FROM THE NEW EGYPTIAN CONSTRUCTION VIOLATIONS CONCILIATION AND REGULARISATION LAW
Introduction: A reading into Law no. 187 of 2023 promulgating the Construction Violations Reconciliation and Regularisation Law (the “New Law”) issued by the President of the Arab Republic of Egypt on 17 December 2023, reflects...
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