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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.
The Saudi Ports Authority had on 9 March 2020 issued Circular No. 37 of 2020 containing the following mandatory orders:
(i) Save for the purposes of evacuation, delivery of goods, and trading – all sea voyages between the Kingdom of Saudi Arabia (the “KSA”) and any of the below countries shall cease:
(a) Bahrain;
(b) Egypt;
(c) Iraq;
(d) Italy
(e) Kuwait;
(f) Lebanon;
(g) South Korea;
(h) Syria; and
(i) The United Arab Emirates
(collectively, the “Restricted States”).
(ii) Any person who was in any of the Restricted States within the 14 days immediately prior to his/her arrival in the KSA, shall be not be allowed to enter the KSA
(iii) No seafarer who was in any of the Restricted States within the 14 days immediately prior to his/her arrival in the KSA, shall be permitted to board or disembark from any ship that calls any KSA port.
(iv) No seafarer shall be permitted to board or disembark from any ship that was in any of the Restricted States within the 14 days immediately prior to her arrival in the KSA.
Omar Omar
Partner, Head of Transport & Insurance – UAE
o.omar@tamimi.com
Gabriel Yuen
Associate, Transport & Insurance
g.yuen@tamimi.com
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