Following last month’s announcement by the Saudi Arabian Capital Market Authority (the CMA) of its proposal to permit participation by qualified financial institutions directly on the Kingdom’s stock exchange (the Tadawul), the CMA has now published its Draft Rules
Al-Mirsal
Insights and commentary on legal developments in the Middle East
Al-Mirsal, published by Latham & Watkins LLP, focuses on legal developments and regulatory trends primarily in the Middle East and North Africa (MENA) region. The blog covers topics such as data protection laws, artificial intelligence and digital infrastructure regulations, healthcare and life sciences sector growth, biotechnology strategies, and financial technology governance. It addresses cross-border data transfer issues, compliance with emerging data privacy frameworks, and the establishment of sovereign data centers. The blog also discusses regional initiatives to foster innovation in healthcare, biotech, and digital assets, reflecting the evolving legal landscape impacting businesses and governments in the MENA region.
Latest from Al-Mirsal - Page 7
New EU Sanctions Target Russian Oil Sector, State-Owned Banks and Military Exports
The European Union (EU) enacted Council Regulation (EU) No 833/2014 (the Regulation), which contains ‘Stage 3’ sanctions against Russia. These sanctions resemble – but in other ways are different – from the latest US sanctions, and they amount to…
How Project Bonds Can Release Asset Value
Whilst project bonds have for some time been a popular source of financing for projects in the US, they have historically been slow to gain momentum in other parts of the world, including the Middle East.
A number of…
Saudi Opens Market to Foreign Financial Institutions
In a long anticipated measure, the Saudi Council of Ministers (which is the highest authority in the Kingdom) issued a resolution on 21 July, 2014 authorizing foreign financial institutions to directly buy and sell stocks listed on the Saudi Stock…
Top 4 Innovations Driving Growth in the Global Sukuk Market
By Harj Rai & Lee Irvine
The Sukuk Opportunity
Total Sukuk issuances for 2013 stood at approximately US$120 billion and the Sukuk market is likely to sustain double-digit growth in the coming two to three years with assets in Islamic finance expected to reach US$2.8 trillion…
How the GCC Can Boost Confidence in its Local Exchanges
The Gulf Cooperation Council (GCC) countries accounted for IPO issuances valued at US$1.1 billion in 2013, according to Bloomberg. Notably, Qatar Exchange bounced back this year with the successful IPO and listing of Mesaieed Petrochemical Holding company Q.S.C. (a Qatar…
An Introduction to Non-Profit Incorporated Organisations in the DIFC
While the Dubai International Financial Centre (the DIFC) remains primarily focused on the financial services industry, its stable and sophisticated legal and regulatory regimes have increasingly attracted organisations in the culture and arts, retail, leisure and — more recently —…
Iran’s Nuclear Agreement Negotiations Ease Certain US and EU Sanctions
Earlier this year, the International Atomic Energy Agency confirmed that Iran had met its initial obligations under the Joint Plan of Action (Joint Plan) with the “P5+1” (the United States, the United Kingdom, France, Russia, China and Germany). Iran’s suspension…
How LIBOR Administration Change will Impact Financial Contracts
This month, the UK Financial Conduct Authority formally authorised ICE Benchmark Administration Limited (IBA) to assume responsibility for the administration of the London Interbank Offered Rate (LIBOR).
IBA is a subsidiary of the Intercontinental Exchange Group, a leading global…
