Saudi Cabinet approves bankruptcy law

Saudi Cabinet approves bankruptcy law

Feb 18, 2018

The cabinet of Saudi Arabia approved bankruptcy law as the  bankruptcy legislation does not exist in Saudi Arabia, inorder to  boost the investment in Saudi Arabia and to attracting more investors  to make the Kingdom more enticing to investors.

“The time is excellent, lots of companies are facing financial difficulties. Before it was either liquidation or stakeholders had to inject money. The new law is an alternative solution – the international practice has proven that insolvency law offers a good solution for companies.” Dr. Bader Al Busaies responds to Reuters on Sunday 18 February.

 

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