• Legal Framework

    In-depth coverage of the local legal framework for business is an integral part of OBG’s analysis. Working in partnership with a leading local law firm, we review foreign investment laws, ownership restrictions, requirements for local partners and labour laws, among other topics.
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Saudi Arabia’s Capital Market Authority (CMA) approved updated corporate governance regulations (CGRs) for joint-stock companies listed on the Saudi Stock Exchange (Tadawul) in February 2017, and amended them in May 2019. The new CGRs reflect efforts to enhance the competitiveness of the Saudi exchange to investors. The regulations set...

Chapter | Legal Framework from The Report: Saudi Arabia 2020

Saudi Arabia’s Capital Market Authority approved updated corporate governance regulations for joint-stock companies listed on the Saudi Stock Exchange (Tadawul) in February 2017, and amended them in May 2019. The regulations set standards for best corporate practices by promoting accountability, clarity and transparency for management, board members, shareholders and stakeholders. This...

Saudi Arabia’s decision to weaken the link between hydrocarbons and economic growth, and pursue a policy of diversification has seen a wide range of projects come to fruition in the last several years. While at present the Covid-19 pandemic and the unprecedented plunge in oil prices are causing significant short-term uncertainty, the reforms that have been put in place in recent years should stand the Kingdom in good stead over the longer term.

 

Law No. 104-12 relating to freedom of prices and competition, instituted by Dahir (royal decree_ No. 1-14-116 on June 30, 2014, its application Decree No. 2-14-652 and Law No. 20-13 relating to the Competition Council instituted by Dahir No. 1-14-117 of June 30, 2014, are now fully in force since the publication of the list of the new...

 

The following laws form the basis of the Moroccan corporate legislative corpus: the Moroccan civil code, or Dahir (royal decree) des Obligations et des Contrats, of August 12, 1913; Law No. 17-95 on joint stock companies promulgated by Dahir No. 1-96-124 on August 30, 1996; and Law No. 5-96 on limited liability companies, promulgated by...

 

Recent legal developments in the kingdom have been marked by the reform of the pledge regime introduced by Law No. 21-18 relating to security over moveable assets, which entered into force on April 22, 2019.

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