Bahrain Shura Council Prepares to Vote on Key Legislative Reforms
The Shura Council is expected to vote on significant legal amendments, including a mutual taxation agreement with Saudi Arabia. Key updates involve tougher penalties for agricultural drain violations, new standards for corporate governance, and enhanced frameworks for environmental and fundraising regulations.
Theia Market Signal Identification - AI AssistedThe Shura Council will vote on critical legislative amendments, including a mutual taxation agreement with Saudi Arabia. Notably, amendments to Decree-Law No (1) of 1985 introduce increased fines between BD1,000 to BD10,000 and imprisonment for violations concerning agricultural drainage.
A draft law for Bahrain's accession to Annex VI of the International Convention for the Prevention of Pollution from Ships aims to enhance maritime air pollution controls. Additional amendments target corporate governance in response to the upcoming FATF evaluation in 2026 and redefine fundraising regulations. The foreign partner in the natural gas exploration project will invest up to $100 million to assess the viability of unconventional onshore reservoirs, potentially establishing a joint production framework.
Comments