Manama : Economic Development Board (Bahrain EDB), is set to host the second Quarterly Business Law Forum for 2023.
With these forums, Bahrain EDB aims to establish a platform to facilitate a space for stakeholders and experts to regularly discuss and debate topical issues, learn about the latest developments in the realm of business law and assess the need for improving existing laws or the introduction of new laws to improve the ecosystem for doing business in the kingdom.
In line with its mandate to attract investment opportunities and enhance Bahrain’s investment climate, Bahrain EDB champions regularly reviewing existing business legislation and establishing dynamic business laws, with a particular focus on addressing potential issues in ICT and priority sectors outlined in the Economic Recovery Plan.
Moreover, it helps to enhance the ecosystem to attract investment and further diversify the economy, thereby stimulating economic growth and increasing high-value opportunities for employment.
The forum will focus on knowledge exchange and discussion of digital markets, digital services, and data governance.
Luca Castellani, Legal Officer in the Secretariat of the United Nations Commission on International Trade Law (UNCITRAL) will discuss the most contentious issues in the international sale of goods.
The forum will also discuss recent developments in company law and commerce law together with other topical legal issues.
The forum will feature other speakers including Noor Radhi, a Deputy Senior Partner at Hassan Radhi and Associates, Izabella Szarkowski, Partner in the Corporate Structuring Team, and Dr. Jameel Al Alawi, Senior Legal advisor at Bahrain EDB.
Four technical laws were introduced in the Kingdom with the aim of innovating the Bahraini legislative ecosystem towards a more sustainable future.
The first law was the Personal Data Protection Law, which was designed to be another catalyst for the development and growth of Bahrain’s digital economy by governing the processing of personal data.
The second law was the Electronic Communications and Transactions Law to regulate the recognition of electronic communication, electronic contracts
and electronic trust services.
The third law is related to cloud computing services designed to encourage parties located outside Bahrain to use cloud computing data centers located in the
Kingdom.
The fourth law gives recognition and regulates electronic transferable records.
By virtue of this law, Bahrain was the first country in the world to adopt the Model Law on Electronic Transferable Records developed by the United Nations Commission on International Trade Law (UNCITRAL).
Electronic Transferable Records include electronic cheques, bills of exchange, promissory notes, bills of lading, letters of credit and warehouse receipts that are in electronic form.
Commenting on the announcement of the forum, Dr. Jameel Al Alawi, the Senior Legal Advisor
at the Bahrain EDB, said: “We in EDB are proud to organize these quarterly business law
forums. Through these forums, we hope to build on Bahrain’s pioneering strides towards
enriching the business ecosystem, by enabling discussion and debate and providing relevant
insights to further elevate Bahrain’s competitiveness on a global map.”
