The Effect of the Bankruptcy Law A Comparative Study between Saudi Arabia and the United Arab of Emirates

Abstract

The government of Saudi Arabia has adopted strategies. It refers to the National Transformation Program (NTP) and Vision 2030, which aims to enhance the capacity of the country’s economy. Previously, only a limited number of private investors had made investments in the diverse sectors of the Saudis economy. Consequently, the government of Saudi Arabia has adopted a number of reforms that aim to attract both local and foreign investment. One of these reforms is the approval of the new Bankruptcy Law. Besides, the investors require certainty about whether their investments will be safeguarded using the already existing laws since a majority of them do not understand their rights and obligations in instances where they run into financial difficulties. This thesis aims to offer a comparative study of Bankruptcy Law between Saudi Arabia and the United Arab Emirates.