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The Ministry of Commerce launches new services for joint-stock and foreign companies through its digital branch. The new services aim to facilitate the procedures of starting businesses and stimulate the commercial environment in the Kingdom. The ministry declared that the new digital services for joint-stock companies included the prospect of establishing a joint-stock company, converting...
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Within its efforts to combat concealment, the Saudi Ministry of Commerce issued a regulation for correcting violators of the provisions of the commercial concealment law, which contained options to correct the situation after submitting a request. The first option is to introduce a new partner in the facility between a Saudi and a non-Saudi after...
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The Minister of Saudi Justice, Walid bin Mohammed Al-Samaani, inaugurated the Case Preparation Center (Center), which prepares claim files to boost the efficiency of the Ministry of Justice. The Center delivers various services, including the preliminary study of a claim, the management of notices, summarizing minutes and briefs, and composing draft rulings. The Center is...
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Saudi Arabia’s Ministry of Commerce has referred 200 online stores to the E-Commerce Violations Committee to impose legal penalties on them as they violated the compliance standards for e-commerce reliability. The E-Commerce Council has announced the obligation of e-stores to implement 13 standards that they must provide for the reliability in e-commerce, which are: 1...
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The Federation of Saudi Chambers (FSC), represented by the Saudi-French Business Council, hosted a high-profile French delegation representing the entertainment sector. The visit discussed the possibilities for Saudi-French cooperation in the entertainment sector and relevant fields. The French delegation comprises 30 business owners and French companies working in the entertainment sector in amusement parks, manufacturing...
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Itmam Updates: The competitive recruitment landscape between big corporates and start-ups continues to grow. Start-ups from across the Middle East and North Africa (Mena) had raised nearly $375 million in a month.Working for a start-up will enable you to understand how the company works and develops commercial insight not expected of you when lower down...
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Itmam Updates: A new crop of fintech companies is leading the light toward economic growth in Saudi Arabia.From facilitating cashless payments to offering financial data analytics to providing loans, these firms are coming out with simpler and customized alternatives to traditional banking.According to a Fintech Saudi report, fintech transaction values between 2017 and 2019 increased...
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Itmam Updates: SMEs are considered the key partners in the national development and described as a key pillar of the Saudi national economy and GDP.In the light of the national Saudi Vision 2030, Saudi Arabia is actively supporting the SME sector in the kingdom to increase its productivity and contribution to GDP from 20% to...
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Itmam Updates: In its 31st session of the second year of the eighth session, the Saudi Shoura Council approved many draft bylaws under the presidency of Speaker of the Shoura Council Sheikh Dr. Abdullah Bin Mohammed Bin Ibrahim Al-Sheikh.At the beginning of the session, the council approved a draft memorandum of understanding for collaboration in...
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Itmam Updates: The kingdom of Saudi Arabic issued a new draft of consumer protection recently. The law will ensure a successful experience for the consumer and operator.The provisions of the law apply to the contracts ceased with customers, whether they are model versions prepared by the operator or specially negotiated.The operator shall explain the terms,...
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