New Civil Transactions Law Marks a Major Leap in Saudi Judicial Legislation

Riyadh General Court adopts best international judicial practices in accordance with Islamic sharia law (SPA)
Riyadh General Court adopts best international judicial practices in accordance with Islamic sharia law (SPA)
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New Civil Transactions Law Marks a Major Leap in Saudi Judicial Legislation

Riyadh General Court adopts best international judicial practices in accordance with Islamic sharia law (SPA)
Riyadh General Court adopts best international judicial practices in accordance with Islamic sharia law (SPA)

Saudi Arabia is undergoing judicial reforms following the announcement by Crown Prince Mohammed bin Salman about the Cabinet’s approval of the new Civil Transactions Law.

The new regulation is considered a significant advancement in specialized laws governing contracts and financial transactions between individuals. It aims to organize economic activity and improve investment opportunities.

Crown Prince Mohammed bin Salman had said that the Civil Transactions Law represents a “remarkable transformation” within the system of specialized legislations.

The law was prepared in a way taking advantage of the latest legal trends and the best international judicial practices, in light of the provisions of the Islamic Shariah and its purposes, explained the Crown Prince.

It also comes in harmony with Saudi Arabia’s international obligations considering the agreements that have been ratified by it to keep pace with the developments of contemporary life, he added.

He said that the law was based on foundations represented by the protection of property, stability and validity of contracts, identification of sources of rights and obligations and their effects, and clarity of legal positions.

The Crown Prince said that the law will have a positive impact on the business environment and increase its attractiveness, and will also contribute to regulating economic movement and the stability of financial rights, in addition to facilitating decision-making with regard to investment.

He added that it will also enhance transparency and increase the ability to predict judgments in the field of civil transactions and reduce discrepancies in judicial reasoning to reach prompt justice, apart from contributing to bringing down disputes.

He highlighted the delay in the law’s approval, originally expected in the fourth quarter of 2022, saying that it was necessary to carry out further studies as well as scrutinize the provisions of its regulations.

The Civil Transactions Law includes provisions that define contracts, such as the elements of a contract; its validity; its effects among the contracting parties; the provisions related to its invalidity and termination; and the provisions of the harmful act and rules for compensation. The statutory texts of the law also deal with all forms of ownership and their provisions.

 



Saudi FM Reiterates Kingdom’s Rejection of Displacement of Palestinians

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah speaks at the press conference on Friday. (SPA)
Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah speaks at the press conference on Friday. (SPA)
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Saudi FM Reiterates Kingdom’s Rejection of Displacement of Palestinians

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah speaks at the press conference on Friday. (SPA)
Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah speaks at the press conference on Friday. (SPA)

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah reiterated on Friday the Kingdom’s rejection of the displacement of Palestinians from their territories.

During a news conference following the "Antalya Ministerial Meeting on the Two-State Solution and Permanent Peace in the Middle East" in Türkiye, he stressed the importance of an immediate return to the ceasefire in Gaza.

The ceasefire must be sustainable, serve as a path to alleviate the suffering of the people of Gaza, and be the beginning of a final solution to the Palestinian cause through the establishment of a Palestinian state, he declared.

"The entry of aid to Gaza cannot be linked to a ceasefire, as this violates the foundations of international law, and preventing aid from reaching the Gaza Strip and using it as a tool of war is also a flagrant violation of all norms and the foundations of international law and is rejected by all," Prince Faisal said.

He called on the international community to exert all pressure to ensure that humanitarian aid reaches civilians in Gaza without interruption and in sufficient quantities.

He expressed the Kingdom's categorical rejection of all forms of displacement of the Palestinian people from their lands, even if it is through voluntary departure, considering that the Palestinians in Gaza are being deprived of most necessities of life.

"If aid is not entering, if the residents of Gaza are deprived of food, drink, and electricity, and if they are threatened every day with military bombardment, then even if one of them is forced to leave, that is not voluntary but a form of coercion. Therefore, it must be clear that any displacement of Palestinians in Gaza under any pretext is categorically rejected," he added.

Prince Faisal stressed that the Arab and Islamic group is committed to a comprehensive peace that guarantees the security of all in the region and guarantees the rights, security, and future of the Palestinian people within the framework of their independent state.