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Find out moreWelcome to this edition of Law Update, where we focus on the ever-evolving landscape of financial services regulation across the region. As the financial markets in the region continue to grow and diversify, this issue provides timely insights into the key regulatory developments shaping banking, investment, insolvency, and emerging technologies.
2025 is set to be a game-changer for the MENA region, with legal and regulatory shifts from 2024 continuing to reshape its economic landscape. Saudi Arabia, the UAE, Egypt, Iraq, Qatar, and Bahrain are all implementing groundbreaking reforms in sustainable financing, investment laws, labor regulations, and dispute resolution. As the region positions itself for deeper global integration, businesses must adapt to a rapidly evolving legal environment.
Our Eyes on 2025 publication provides essential insights and practical guidance on the key legal updates shaping the year ahead—equipping you with the knowledge to stay ahead in this dynamic market.
On 3 January, the Saudi National Institute for Health Research (‘SNIH’) posted for public comment a draft regulation concerning the issuing of grants by the SNIH (‘Draft Regulation’). Public comments remain open until 18 January 2024 here.
The overall aim of the Draft Regulation is to organise the funding for translational research and clinical trials in the areas and programs supported by SNIH. Specifically, the scope of the Draft Regulation includes:
Compared to the almost 36 million population, there are not enough clinical trials conducted in KSA, particularly as they relate to the specific genome of the Saudi population. In August 2023, the Saudi Cabinet announced the approval of the Saudi National Institute for Health Research. The institute will focus on supervising and promoting the value of translational research – turning basic research into practical results – and clinical trials. This announcement is in line with the objectives of Saudi Arabia’s national development and diversification plan, Vision 2030, and national health priorities concerning the research, development, and innovation (RDI) sector.
When looking at the wider regulatory landscape, currently, the Saudi Food and Drug Authority (“SFDA”), through its clinical trials administration and the Saudi Clinical Trials Registry (“SCTR”) – a database of all clinical trials in KSA – is responsible for approving and overseeing clinical trials in KSA. The SFDA evaluates protocols of clinical trials and amendments and enforces Good Clinical Practice. Currently, sponsors and researchers must register their clinical trials using SCTR’s electronic portal. Historically, the SFDA focuses predominantly on phase 3 and phase 4 clinical studies.
As Vision 2030 and national health priorities concerning RDI remain strong, we expect further announcements concerning the development of the SNIH and its role to unfold during 2024.
Al Tamimi & Company’s Healthcare & Life Sciences practice in Saudi Arabia spans all three of our KSA offices (Riyadh, Jeddah, & Al Khobar) and is well placed to advice on regulatory matter impacting the healthcare life sciences industries, such as the subject matter of this client alert.
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