SAUDI ARABIA Law and Practice Contributed by: Dana Halwani and Leanne Farsi, Derayah LLPC
ture, is the reformation of the country’s legal and judicial framework. To this end, there have been increased efforts to legislate upon previously uncodified areas of the law, in order to create a more predictable legal environment, and encour - age foreign investment.
In 2022, the draft of the Commercial Transac - tions Law was uploaded to Istitlaa, the Saudi public consultation platform for feedback on leg - islation. The consultation period for this draft has since ended. The official publication of the Com - mercial Transactions Law is highly anticipated, as it regulates a wide array of commercial con - tracts, and will serve as the first comprehensive codification of commercial law in the Kingdom.
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