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Bahrain Adopts the GCC Funds Passporting Regime The Cross-border Registration Regulation for Investment Funds, commonly referred to as the GCC Funds Passporting Scheme, has been issued by the Central Bank of Bahrain (CBB) and comes into force on January 1, 2025.This effort is in line with the "Regulatory Framework for…
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Kuwait's New Commercial Law Kuwait is taking a significant step toward strengthening its business regulations and ensuring market transparency with the introduction of the Commercial Cover-Up Law. The Ministry of Commerce and Industry has finalized a draft decree-law aimed at combating commercial cover-up, a practice that enables foreigners to engage…
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Bahrain’s Domestic Minimum Top-Up Tax on Multinational Enterprises The Kingdom of Bahrain has now enacted Decree Law 11 of 2024, a landmark fiscal policy measure which introduces a 15% Domestic Minimum Top-Up Tax (DMTT) on certain Bahraini entities within large multinational enterprise (MNE) groups. Bahrain thus joins the **OECD's Global…
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Bahrain international commercial dispute resolution law In recent years, Bahrain has solidified its standing as a premier center for international commercial dispute resolution. The establishment of the Bahrain International Commercial Court (BICC) and the Bahrain Chamber for Dispute Resolution (BCDR) illustrates Bahrain’s commitment to streamlining and modernizing the mechanisms for…
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International treaty on plant genetic resources for food and agriculture in Bahrain In a significant move towards bolstering global efforts in conserving plant genetic resources, Bahrain has officially acceded to the International Treaty on Plant Genetic Resources for Food and Agriculture (ITPGRFA), commonly known as the "Seed Treaty." The ratification…
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A Comprehensive Guide on Bahrain’s end of service gratuity system The Kingdom of Bahrain has recently implemented significant changes to its leaving indemnity system, marking a pivotal moment in the country's commitment to enhancing labor rights and fostering a conducive business environment. Spearheaded by His Royal Highness Prince Salman bin…
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The Crypto-Asset Exchange System in Bahrain Bahrain's forward-thinking fintech regulations, coupled with a commitment to fostering young tech talent, have successfully lured some of the globe's most inventive financial entities to the region. Notably, cryptocurrency exchange Binance recently secured its inaugural license as a crypto-asset provider within the Gulf Cooperation…
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Bahrain Labour Law Bahrain's labor law serves as the cornerstone for regulating the employment relationship between employers and employees, ensuring fair treatment, and fostering a healthy work environment. This article provides an overview of key aspects within Bahrain's labor law, emphasizing the rights and responsibilities it establishes for both parties.…
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Evolution of Fintech in the Middle East “The major winners will be the financial services companies that embrace technology.” With a population of about 600 million people, the Middle East is one of the world's most diverse areas, covering three continents and 21 countries. It is a culturally, politically, and…
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Bahrain Property Law 2022 A new plan to promote the real estate sector is set by the Bahrain Real Estate Regulatory Authority (RERA) in accordance with the Kingdom's Economic Vision 2020 called National Plan for Real Estate. This aims to enhance Bahrain's economy by attracting the investors into the Kingdom…
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Arbitration in Bahrain and Enforcement of Arbitral Awards in Bahrain Arbitration rules enacted by The Kingdom of Bahrain In 2009 make it the primary united states within the globe to create the equal of a loose exchange quarter for arbitration. That rules, Legislative Decree No. 30(The Decree), offers events to…
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Understanding Censorship Across the GCC Censorship is one method of the government to control media. Censorship is characterized as concealment or forbiddance of speech or composing that is considered subversive of the benefit of everyone. It happens in all manifestations of power in some degree, yet in present day times…
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GCC VAT Agreement Introduction Globally the VAT system has been around for a long time. However, for the most part, Arab countries have been operating tax-free in that respect. Over 160 countries around the world have adopted the indirect tax method to reduce the fiscal deficit and facilitate a steady…
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Economic and Fraud Provisions in the Middle East “There is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open…
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