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ARTICLE · 12 FEBRUARY 2013

Saudi Arabian Post Legislative Spring: Opportunities For Insurers

Clyde & Co
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The draft implementing regulations of the Saudi finance laws are available for public comments.

United KingdomFinance and Banking
Peter Hodgins
Peter Hodgins
Karim Fawaz
Karim Fawaz
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The draft implementing regulations of the Saudi finance laws are available for public comments. These drafts, despite not directly enforcing insurance requirements, open new opportunities for insurers and encourage the mergence of new insurance products which are necessary for various sectors, and especially in the Power and Energy sector, namely, solar energy.

On 19 November 2012, the Saudi Arabian Monetary Agency (SAMA) published on its website the draft implementing regulations to the Real Estate Finance Law, Financial Lease Law and the Law on Supervision of Finance Companies1. This article considers the impact of these laws in the context of the insurance sector and the opportunities in the expanding area of renewable energy.

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