In recent years Bahrain has seen the introduction of a series of laws designed to further develop the kingdom’s financial sector, facilitate local and foreign investment, and promote Bahrain as a transparent, secure and cost-effective place to do business in the MENA region. Contains a viewpoint from Hatim Q Zu’bi, Zu’bi & Partners Attorneys & Legal Consultants.…
Successful spending rationalisation measures introduced in the wake of the oil price drop have helped to reduce the country’s fiscal deficit, while revenue enhancing initiatives such as the implementation of value-added tax are expected to further reduce it over the medium term. Meanwhile the kingdom has maintained its focus on economic diversification initiatives. Manama remains a leading finan
This chapter contains an overview of the legal framework in which local and international investors operate in Bahrain, including a look at the laws governing business in the kingdom and an explanation of the rules covering bankruptcy proceedings. This chapter contains a viewpoint from Hatim Q Zu’bi, Partner, Zu’bi & Partners.…
Bahrain’s Bankruptcy and Composition Law, promulgated by Legislative Decree No. 11 of 1987, aims to establish a balance between creditor and debtor interests. Honest and unfortunate merchants who suspend payment of their commercial debts are eligible to file for bankruptcy and conclude a conciliation with their creditors. The law also protects creditors from any act taken by the merchant…
Viewpoint:Hatim Q Zu’bi In 2002 Bahrain was among the first GCC countries to introduce legislation regarding electronic transactions. Legislative Decree No. 28 of 2002 promulgating the Electronic Transactions Law governs a wide array of electronic transactions and includes provisions on various issues, from the legal recognition of electronic records to formalities surrounding contracts concluded…
Under the patronage of King Hamad bin Isa Al Khalifa, Clarion Events is proud to present the Bahrain International Defence Exhibition & Conference (BIDEC) Meet over 120 international manufacturers and suppliers of the latest equipment, technology and systems Network with over 3000 international defence industry visitors at Bahrain's first tri-service defence exhibition Attend the Middle East…
Bahrain has gone through a series of economic challenges in the past five years. A primary source of these is the downturn in the real estate market. In an effort to combat the negative effects of the downturn on investors, three significant laws have been issued since 2014 regulating the dealings of all parties involved in the real estate market. Law No. 28 of 2014 on real estate developments…
Bahrain is a regional financial hub for investment and business in the GCC. This holds true due to the efforts set forth by the Ministry of Industry, Commerce and Tourism (MoICT), and its minister, Zayed R. Al Zayani, in cooperation with other ministries. The MoICT has taken steps to encourage and create lucrative opportunities for foreign investors and companies wishing to establish a presence…
Like its Gulf neighbours, Bahrain has continued to offset the effects of the drop in oil prices with a host of measures, including moves towards subsidy reduction, now in place to ease the pressure. Despite the downturn, however, the country has continued to push ahead with many big-ticket projects. Counter-cyclical spending in the energy sector is expected to stand the broader economy in good ste
The tightening of banking rules and regulations has been an ongoing pattern worldwide, particularly following the global financial crisis of 2008-09. The effect of this has certainly been observed in Bahrain, especially when examining the current regulations applicable to the marketing and provision of discretionary investment management services (investment services), and the marketing and…