![]() ![]() Auditors usually require a legal opinion to confirm that a ‘true sale’ of the receivables has been effected. This treatment is possible if the receivables are sold on a ‘without recourse’ basis. One key commercial consideration for companies seeking to sell their receivables is for the receivables to be removed from their balance sheet as a debt and to appear as revenue that has been collected. This latter technique is referred to as ‘invoice discounting’. The same technique is also used for financing contractors and sub-contractors, where works have been performed or goods and services have been supplied and payment under the corresponding invoice is payable after a period of time (e.g. Typically, banks in Qatar act as factors and purchase receivables relating to the export transaction. Read the full editionįactoring is a financing technique that enables an exporter to collect the purchase price of the goods relating to an export transaction prior to the due date of payment. We hope you thoroughly enjoy this packed issue of Law Update, filled with captivating articles that address key legal issues within a vital sector for the region. Additionally, we take a regional perspective, discussing jurisdictions such as Kuwait, Saudi Arabia, UAE, Oman, and Bahrain to provide a comprehensive understanding of the TMT landscape. This edition covers a range of topics, including – the new Telecommunications & Information Technology Law in Saudi Arabia, the intricacies of trademarks in the Metaverse, and the legal challenges faced by the video game industry. We explore the benefits of embracing a digital transformation and how local authorities have responded by enhancing regulations to accommodate the evolving TMT landscape. Our focus in this Law Update is on the sector’s ongoing potential to advance and propel the region toward a more digital economy. ![]() TMT continues to play a vital role in positioning the region as an international business and social hub, driving significant growth and innovation. In this edition, we dive into the dynamic world of Technology, Media, and Telecommunications (TMT) across the Middle East and North Africa (MENA) region. ![]() Welcome to the latest edition of Law Update titled “Rise of Generative AI.” ![]()
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