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  • 07 Feb 2019Bahrain - Kuwait - Oman - Qatar - Saudi Arabia - United Arab Emirates

    Businesses liable for value-added tax (VAT) in Gulf Cooperation Council (GCC) states will usually have to complete an apportionment exercise in order to correctly calculate the extent to which they are entitled to deduct the VAT they incur on their own purchases.

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  • 05 Feb 2019Bahrain - Kuwait - Oman - Qatar - Saudi Arabia - United Arab Emirates

    Established in March 1995 by GCC leaders, one of the main objectives of the GCC Commercial Arbitration Centre (GCCCA) is to fill a gap in the region by providing expeditious and effective arbitration services.The GCCCA was established to administer commercial cases, including cases in the region related to banks, financial institutions, insurance, reinsurance, constructions, engineering, various contracting, intellectual property covering commercial and industrial, copyrights, and all types of international commercial contracts. The conduction of arbitration proceedings under the auspices of the GCCCA is subject to two set rules; the Charter of the Centre (Charter Rules) and the Arbitral Rules of Procedure (Procedural Rules) which should be read and interpreted as complementary to one another.  These two rules together will be referred to as the Rules.In March 1995, it was officially announced that the GCCCA had become fully functioned and ready to fulfil its duties. By virtue of Qatar Decree No 19/2015, the GCCCA was approved by the State of Qatar and has been given the power of law in accordance with Article 68 of Qatar Law No 1/2004.This commentary aims to give a general overview of the major provisions underpinning the conduct of arbitration proceedings in accordance with the GCCCA Rules.

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  • 22 Nov 2018Bahrain - Iraq - Jordan - Kuwait - Lebanon - Libya - Oman - Qatar - Saudi Arabia - United Arab Emirates

    Indian nationals whose passports are not endorsed with a notification ‘Emigration Check Required’ (also referred to as ‘non-ECR’ or ‘ECNR’ passports) and who are traveling for employment to Afghanistan, Bahrain, Indonesia, Iraq, Jordan, Kuwait, Lebanon, Libya, Malaysia, Oman, Qatar, Saudi Arabia, South Sudan, Sudan, Syria, Thailand, UAE or Yemen, are required to register through the e-Migrate portal in order to obtain an Emigration Clearance or they risk being denied departure from India.

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  • 12 Nov 2018Kuwait

    Kuwait’s Central Bank has issued new regulations for granting loans, personal consumer and housing financing and issuing credit cards.

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  • 01 Oct 2018Bahrain - Egypt - Iran - Iraq - Jordan - Kuwait - Lebanon - Libya - Oman - Qatar - Saudi Arabia - United Arab Emirates

    With effect from 1 October 2018 (today!), the Insurance Distribution Directive ((EU) 2016/97) (IDD) [Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution], (Insurance Distribution Directive (IDD)) and its statutory provisions will apply to all EU distributors of insurance products and replaces the Insurance Mediation Directive (2002/91/EC) (IMD) [Directive 2002/92/EC of the European Parliament and of the Council of 9 December 2002 on insurance mediation].

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