Legal Framework
From The Report: Saudi Arabia 2015
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This chapter contains an overview of the legal framework in which local and foreign investors operate in Saudi Arabia. It includes a run-down of dispute resolution and bankruptcy rules, an outline of the regulations affecting foreign investors in Saudi Arabia, and an examination of the evolving regulatory framework in place across the Kingdom.

Articles from this Chapter

Overview

Supporting role: The Kingdom’s legal and regulatory framework has evolved to accommodate the needs of the growing economy
OBG
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The growth of the Saudi economy over the last few decades has been nothing short of staggering, and today the country is one of the top 20 economies in the world. Historically, the hydrocarbons sector has dominated the economy, though growth in other segments, including industry, manufacturing, retail, trade and construction, has created tremendous opportunities in the private sector. As part of the growing economy, the legal and regulatory framework has evolved to accommodate new needs. In this…

Analysis

Air of authority: A look at the measures taken to improve corporate governance and disclosure standards
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Since its formation in July 2004, the Capital Market Authority (CMA) has taken various measures to improve corporate governance and disclosure standards for Saudi Arabian public companies, which has also resulted in the improvement of such standards among private companies that may seek to be publicly listed in the future. PREPARING THE GROUND: The CMA adopted the Corporate Governance Regulations in November 2006, and since then through a series of board resolutions has made more and more…

Analysis

Agreeing to disagree: Dispute resolution and enforcement of foreign judgements and arbitral awards
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Parties doing business in Saudi Arabia often select binding arbitration in the Kingdom, a preferred neutral foreign jurisdiction or another GCC state as the method for dispute resolution. In 2012 an arbitration law was enacted in Saudi Arabia confirming the right of parties to agree to settle their disputes through arbitration if the dispute is one in which conciliation would be permitted. Awards issued pursuant to the Arbitration Law are binding and enforceable through the competent authorities.…