Manama, May 9 (BNA): The Economic Development Board (Bahrain Development Bank) is preparing to host the second quarterly forum on business law for the year 2023.
Through these forums, the Bahrain Economic Development Board aims to create a platform to facilitate a space for stakeholders and experts to discuss and discuss topical issues regularly, learn about the latest developments in the field of business law and assess the need to improve existing laws or introduce new ones to improve the ecosystem for doing business in the country. The kingdom.
In line with its mission to attract investment opportunities and enhance the investment climate in Bahrain, The Bahrain Economic Development Board regularly reviews existing business legislation and develops dynamic business laws, with a particular focus on addressing potential issues in information and communication technology and the priority sectors identified in the economic recovery plan.
Moreover, it helps to strengthen the ecosystem to attract investment and further diversify the economy, thus stimulating economic growth and increasing high-value employment opportunities.
The forum will focus on sharing knowledge and discussing digital markets, digital services and data governance.
Luca Castellani, Legal Officer at the Secretariat of the United Nations Commission on International Trade Law (UNCITRAL), will discuss the most controversial issues in the international sale of goods.
The forum will also discuss recent developments in corporate law and commercial law along with other legal issues.
Other speakers at the forum will include Nour Rady, Deputy Senior Partner at Hassan Rady & Partners, Isabella Szarkowski, Partner in the Corporate Structuring Team, and Dr. Jamil Al Alawi, Senior Legal Counsel at Bahrain Economic Development Board.
Four technical laws have been introduced in the Kingdom with the aim of innovating the Bahraini legislative system 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 regulating the processing of personal data.
The second law is the Electronic Communications and Transactions Law to regulate the recognition of electronic communications and electronic contracts
Electronic trust services.
The third law relates to cloud computing services designed to encourage parties located outside Bahrain to use cloud computing data centers located in Bahrain
kingdom.
Law IV recognizes and regulates electronic transferable records.
With 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 checks, 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. Jamil Al Alawi, Senior Legal Adviser, said:
At the Bahrain Economic Development Board, he said: “We at the Economic Development Board are proud to organize this quarterly business law
forums. Through these forums, we hope to build on Bahrain’s pioneering steps towards it
Enriching the business ecosystem, by enabling discussion, debate and providing relevant information
Visions to continue raising Bahrain’s competitiveness on a global map.
NAA