There are two parallel systems of law operating in Brunei Darussalam: English common law and sharia law. This chapter contains information helpful for navigating the Sultanate’s legal climate, particularly in the context of business. It also includes a legal framework viewpoint from Colin Ong, Managing Partner, Dr Colin Ong Legal Services, and President, Arbitration Association of Brunei...
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Chapter | Legal Framework from The Report: Brunei Darussalam 2013
As ASEAN chair in 2013, Brunei Darussalam has a regional agenda to push forward alongside its domestic plans for the year. Chief among its local priorities is developing alternative resources streams in its economy, which has long been driven by its oil and natural gas revenues.
Articles & Analysis | Status report: The advantages attached to gaining CFC status from The Report: Morocco 2013
Law 44-10 enacted in December 2010, created the first Moroccan financial centre. Since the kingdom represents Africa’s second-largest market capitalisation, the common ambition of the Moroccan legislature and the Casablanca marketplace is to create a financial centre that will attract international and regional investments from the Maghreb and West...
Articles & Analysis | New free zones: The ins and outs of offshoring to encourage foreign investment from The Report: Morocco 2013
Part of Morocco’s strategy to attract foreign investors is the creation of free zones. To date, six integrated industrial zones have been established, all within the region of Tangier, and with each one dedicated to a different sector of the economy, including car manufacturing, aeronautics and sports, among others. Prime Ministerial Circular No 9/...
Articles & Analysis | Moving money: Steps to codify the regulation of foreign exchange from The Report: Morocco 2013
With the modernisation of financial laws, it has also been necessary to reform and adapt Moroccan foreign exchange regulation. On November 16, 2011, the legislator enacted the Moroccan Office of Exchange (MOE) Circular, in the process compiling and codifying 815 articles for all regulation applicable to foreign exchange.
Articles & Analysis | Modernising financial laws: Tracking efforts to raise standards in the derivatives market from The Report: Morocco 2013
The modernisation of financial trading has necessitated the enactment of new legislation. While only in draft format, these laws indicate a drive to upgrade the legal environment for domestic and global trading.