The most important legal news in local newspapers
We in Ben Arafa Law Group Consulting & Legal Legitimacy L.L.C likes to provide you of the most important legal news in the local newspapers for this week, which related to your business and commercial, labor and procedural activities, and accordingly we provide you with the most important news as follows:
Enforcement of financial control law and its executive bylaw
Ministry of finance commences the enforcement of financial control law, which replaces financial representatives law. It aims at developing the system of public money control, through adopting modern control mechanisms that include direct, self and digital control.
Legal consequences:
Extending the scope of control on governmental and related authorities.
Reinforcing accountability at public money management and limiting fiscal violations.
Developing modern control tools that raise levels of compliance and support fiscal transparency.
Approving the amendment of anti money laundry law
The amendment of anti money laundry law is approved to develop the legislative framework according to the international standards, and to reinforce controlling financial flow and facing financial crimes.
—
Legal consequences:
Establishing more strict requirements for compliance and disclosure for financial and non-financial establishments.
Reinforcing the required care for and management of money laundering and financing terrorism risks.
Empowering the concerned authorities to follow money and to overcome financial crimes effectively that reinforces the credibility of investment environment.
Approving the new enforcement law
The new enforcement law is approved for developing justice system, that contributes in improving enforcement procedures and the competence of achieving justice through regulation of procedures and developing tools of disclosure, in addition to following up money and dependence on electronic pathways.
Legal consequences:
Facilitating procedures of enforcement and limiting dues payment extending.
Reinforcing judiciary securities for both creditors and debtors, and establishing the principle of quick justice.
Upgrading the effectiveness of dealing with executive deeds through approved websites.
Stock market authority approves the regulations for firing the board of directors and dividends at enlisted companies
Stock market authority approves the amended executive bylaw for companies law related to the enlisted companies to develop the regulations for firing the board of directors and regulating the mechanisms of allocating and dividing profits that reinforces governance of companies and rights of shareholders.
Legal consequences:
Empowering public assemblies to fire board of directors according to allocated regulations that reinforce management control.
Raising the level of transparency and disclosure in addition to the protection of investors in enlisted companies.
Organizing the mechanism of distributing dividends with more flexibility that achieves balance between the interests of the company and shareholders.
Add a Comment