Sunday, July 15, 2018

#SAUDIARABIA: New Bankruptcy Law Seeks To Empower Loaners, Preserve Debtor's Rights, Improve Int'l Standings

[world politics news]


A new bankruptcy law will come into effect in August that seeks to empower loaners, while also preserve the rights of debtors. Majed al-Rasheed, secretary general of the bankruptcy committee at the Ministry of Commerce and Investment, says the law will also improve Saudi Arabia's standing in international reports dealing with insolvency. The Kingdom currently ranks at 168 out of 190 countries.

[FULL STORY HERE]

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