New Saudi civil laws to include minimum age limit on marriages: Justice Minister
February 9, 2021, 11:25 am

New Saudi civil laws to include minimum age limit on marriages: Justice Minister

A Saudi woman receives her newly-issued passport at the Immigration and Passports Centre in the capital Riyadh on August 29, 2019. (AFP)

New reforms to Saudi Arabia’s civil laws will include the setting of a minimum age on marriages for both genders and granting women more marital contract rights, according to the Kingdom’s Minister for Justice.

“For the Personal Status Law, perhaps the most prominent general features are the setting of a minimum age for marriage for both parties, as well consolidating the consideration of a woman's will in all aspects of the marriage contract in addition to childcare rights and interests of the child,” Saudi Justice Minister Dr. Walid bin Mohammed al-Samani.

Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Monday four new laws to reform the Kingdom’s judicial institutions and efforts toward improving the “legislative environment” in the Kingdom, according to an official announcement.

The four new laws include the Personal Status Law, the Civil Transactions Law, the Penal Code for Discretionary Sentences, and the Law of Evidence.

The Crown Prince said the current laws of the past have been “painful” on many individuals, especially women.

The absence of applicable legislations has led to discrepancies in decisions and a lack of clarity in the principles governing facts and practices. That resulted in prolonged litigation not based on legal texts. In addition, the absence of a clear legal framework for private and business sectors has led to ambiguity with respect to obligations.

“This was painful for many individuals and families, especially women, permitting some to evade their responsibilities. This will not take place again once these laws are promulgated pursuant to legislative laws and procedures,” the Crown Prince said in a statement.

The Justice Minister told Al Arabiya that reforms to the legislative system would include reforms in the way judges sentence individuals according to the crime committed.

“For the penal system, the draft affirms that the scope of the punishment is always limited to the acts stipulated in the legal code, as there is no criminalization except by the statutory text. As well as the principle of the personality of the punishment and the emphasis on the presumption of innocence, the approval of alternative penalties to imprisonment and the reduction of aspects of penalties depriving freedom,” added.

In applying the statutory text to the facts, the justice minister said, judges will be able to devote themselves to their basic work in implementing these legislations in addition to paying more and more attention to the realistic aspect of any case.

While no specific details of the which laws would be reformed were announced on Monday, the Crown Prince did say that they would be released later this year after submitted to the Council of Ministers and its bodies for review and consideration, in accordance with the legislative process, and in preparation for submission to the Shura Council, pursuant to its law.

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source: Ismaeel Naar

Image source: AFP

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.