Saudi Arabia Bankruptcy Law Will Take Effect on August 18, 2018

July 16, 2018 — On August 18, Saudi Arabia’s first comprehensive bankruptcy law will take effect. The new law aims to organize procedures of bankruptcy while empowering loaners and preserving the rights of debtors. In addition, the law will encourage domestic and international investment and improve competitiveness and jobs, while paving the way for the transfer of knowledge and skills. The changes outlined in the law will bolster the private sector, a critical element of Saudi Vision 2030.