-
ALSO READ
Vision 2030: Saudi Crown Prince unveils new five-year economic strategy
Saudi Arabia to lift Qatar embargo, open airspace and land border
Saudi Crown Prince expects upcoming GCC summit to reconcile Gulf Monarchies
From lifestyle to tourism: Saudi crown prince announces plans for Riyadh
Saudi king's rare address to United Nations showcases monarch in charge
-
Saudi officials are working to overhaul the country’s unpredictable judicial system by the end of this year, partly to encourage investors long deterred by the perceived arbitrariness of the kingdom’s courts.
Authorities are working to codify a system that has historically granted judges wide discretion to issue rulings based on individual interpretations of Islamic law. This discretionary arrangement has created risk for both Saudi and international investors because it can lead to conflicting rulings from different judges even in similar cases.
While legislation will still be rooted in Islamic law, the codification “will contribute to the predictability of rulings” and “limit individualism in issuing verdicts,” Crown Prince Mohammed bin Salman, also known as MBS, said in a statement published late Monday by the official Saudi Press Agency. Some of the changes will aid women in particular, he added.
“This could be quite significant,” said Kristin Diwan, a senior resident scholar at the Arab Gulf States Institute in Washington. “This lack of predictability is a real problem as MBS looks to attract more foreign investment and to lure more foreign businesses and tourists to the kingdom.”
Authorities are preparing four new regulations to govern civil transactions, criminal law, rules of evidence and “personal status” or family law, the prince said. The news is the latest in a series of dramatic economic and social reforms launched by the 35-year-old crown prince aimed at modernising the kingdom. It fits into his Vision 2030 agenda which aims to diversify the economy away from oil and attract foreign talent and investment to the kingdom, and comes as Saudi Arabia pitches itself as a destination for international business headquarters.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU