The Saudi Council of Ministers approved the Civil Transactions Law. The law is a major milestone legislation in line with Sharia objective and provisions and brought about by the vicissitudes of modern times, to protect property ownership and ensure the stability and validity of contracts, identifying of sources of rights and obligations and their effects, and the clarity of legal positions, which shall have a positive impact on businesses and the attractiveness of the investment environment and enhancing transparency and predictability in civil transactions, thereby reducing discrepancies in judicial rulings and litigations.
If you require assistance relating to this article or require other legal services, please feel free to Contact Us.