New regulations seek to streamline Saudi financial market
Dimah Talal Al-Sharif
Short Url
https://arab.news/9qq8u
In a bid to streamline and manage the Saudi financial market effectively, the Capital Market Authority (CMA) on Monday approved investment funds laws, real estate investment funds regulation and a glossary.
The glossary is a list of terminology used in the CMA’s regulations and documents.
The new regulations will come into effect on May 1.
These new amendments seek to develop the Kingdom’s financial market and support the growth of asset management. The new laws also aim to provide additional sources of financing and refinancing and regulate institutional investment and improve the services provided to potential and existing investors.
New regulations seek to streamline Saudi financial market zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
Europlaw Group and SJ Global Investments entered into international joint venture agreement
Europlaw Group, operating mostly Republic of South Africa and the United Kingdom, decided of entering into a formal business collaboration of entering into a joint venture with SJ Global Investments, operating from the United Kingdom, Switzerland and UAE with an international footprint in multiple investment verticals that includes property, real estate management, private equity, commodity trading and financial instruments establishing a private capital hedge fund. Europlaw Group is a member of The International Association of Lawyers (UIA - Union Internationale des Avocats) situated in Paris, France and a member of the Global Law Experts, situated in London, England, United Kingdom.
Short Url
https://arab.news/8adt5
Last week, we discussed salient features of the Kingdom’s bankruptcy law and the mechanism of filing for insolvency. This week we will continue to share some more details with our readers about preventive settlement procedure.
A debtor can initiate a preventive settlement procedure if he expects financial turmoil and is unable to pay debts, or if the assets he owns are not sufficient to pay off the debts.
The debtor may request a suspension of claims and the court may order a temporary extension for up to 90 days which can be extended further, provided the period of suspension does not exceed 180 days. During the period of suspension, claims against the debtor and enforcement procedures are stayed.