‎Shura Council approves draft Companies Legislation


Shura Council headquarters

The Saudi Shura Council inexperienced-lighted this day, June 13, the draft Companies Legislation, the announce-owned SPA reported. 

The 281-article draft law goals to offer acceptable structures to fulfill the wants of the trade sector and contribute to building sustainable economic entities.  

It also seeks to create particular dazzling practices of the company governance concepts, and facilitate the regulatory requirements for exciting trade and supporting investment, in particular for minute- and medium-sized enterprises (SMEs) and endeavor capital firms.  

In July 2020, the Ministry of Commerce and the Capital Market Authority (CMA) invited public input for the fresh draft Companies Legislation, Argaam earlier reported.