Browsing by Author "Alharbi, Anas"

Now showing 1 - 2 of 2

Restricted
Legislative approaches to preventing corporate fraud: the perspective of the United Kingdom and the Kingdom of Saudi Arabia.
(University of Leeds, 2024) Alharbi, Anas; Cairns, Steven
The UK has recently developed a legal framework to prevent various forms of corporate fraud, yet it was criticised from several aspects. While the KSA laws contain anti-fraud provisions, they lack the same depth and specificity, particularly regarding the forms of corporate fraud. This gap is important as the KSA seeks to adjust its legal framework to align with the evolving economic landscape. Therefore, the main aim of this study is to compare the legislative approaches of the UK and the KSA in reducing corporate fraud, with a focus on leveraging the UK's experience to expedite the development of modern Saudi laws. Through a comparative analysis of relevant legislation in both countries, this study evaluates their respective strengths, weaknesses, and practicability. The findings indicate that the UK's legislative approach has benefitted from the evolution of its laws over time, leading to legislation that imposes convictions on some organisations for their FTP fraud. In contrast, the Saudi regime punishes certain acts that may be considered fraud in specific categories of companies, but it does not explicitly address all forms of corporate fraud. The study recommends taking advantage of the British experience to develop Saudi legislation in a manner that is appropriate to the evolving local context.
17 0
Restricted
THE ALIGNMENT OF SAUDI VISION 2030 BANKRUPTCY LAW WITH UNCITRAL MODEL LAW ON CROSS-BORDER INSOLVENCY (1997) AND ITS IMPLICATIONS FOR FOREIGN DIRECT INVESTMENT
(University of Essex, 2025) Alharbi, Anas; Amajuoyi, Dr Ugochi
Saudi Arabia’s Vision 2030 seeks to diversify the nation’s economy by minimizing dependence on oil and enhancing its Foreign Direct Investment (FDI). However, for Saudi Arabia to achieve this objective its legal regime must align with international guidelines to promote investor confidence. Specifically, the Saudi Arabia’s new 2018 Bankruptcy Law should align with the UNCTRAL Model Law on Cross-Border Insolvency (MLCBI). This study seeks to examine the extent to which the legal reforms provided by Saudi Arabia’s new 2018 Bankruptcy Law aligns with UNCITRAL MLBI to foster predictability, transparency and stability for international investors. This dissertation utilizes legal doctrinal methods to provide an in-depth analysis of the two provisions and comparative legal research methods to compare them. The study reveals that although Saudi’s Bankruptcy Law incorporates some MLCBI principles like recognition and relief, some areas still need improvement such as the judicial capacity and creditors rights. As a recommendation, the study proposes improvement regarding clarity of ambiguous provisions, capacity building of legal professionals and continuous updates of the bankruptcy legal regime in the country to enhance the country’s competitiveness for FDI.
6 0