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Business and Finance

Shura Council Discusses Amending Commercial Companies Law

29 Dec, 2020 08:10 AMAl Raya NewspaperIntended Audience
Visitor: Business Owner
Citizen: Business Owner

News Details

The Shura Council (Advisory Council) held its regular weekly meeting yesterday, Monday, 28 December 2020 under the chairmanship of HE Speaker of the Shura Council Mr. Ahmed bin Abdullah bin Zaid Al Mahmoud.

During the session, the Council discussed a draft law amending some provisions of the Commercial Companies Law No. 11 of 2015. 

Among the provisions stipulated in the draft law is amending some texts of the abovementioned law. This aims at bolstering the easy flow of capital and removing obstacles and reducing time and cost, diversifying non-oil revenue and developing market movements, and bolstering international competitiveness in the area of starting up and operating companies.  

After the discussion, the Council decided to refer the abovementioned draft law to the Financial and Economic Affairs Committee to discuss and submit a report thereon to the Council.

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