Construction Arbitrator’s Post

📌 State-owned enterprises (SoEs) under Hon. William Duma, the longest-serving minister, show alarming inefficiency and regression Despite his impressive credentials, power blackouts and flight cancellations highlight deeper issues. Substantial financial injections from the government, often sourced from loans and international partners, fail to yield profitability. Isolated successes, like PNG Ports and MVIL, are driven by regulatory advantages, not strategic management. Financial mismanagement is evident, with the decision to sell performing shares in BSP for K200 million raising critical questions. Public scrutiny is essential. Speculation about SoEs operating as financial reservoirs for political interests necessitates transparent audits. The public must demand detailed performance reports to ensure accountability and prevent further economic decline. It's time for decisive action to ensure SoEs serve the national interest effectively. A Turkish proverb sums it up: "When a clown moves to the palace, he doesn't become king. The palace becomes a circus."

The 2024 #FATF decision on Türkiye is capable of presenting a new pathway for foreign direct investments to Türkiye. Potential results of the decision in question should be taken into evaluated carefully by all legal practitioners. Our new article underlines potential positive outcomes for that decision: https://lnkd.in/ddpQtP7U #turkishbusiness #turkeybusiness #foreigndirectinvestment

 FATF Grey List:  EFCC, NFIU Step up Exit Plan https://lnkd.in/eDqHHFFy

Outsource Your PRO And Government Services To Noor Almas Documents Clearing Service To Avoid All Hassle

The Qatar International Court and Dispute Resolution Centre Annual Report 2023 has been published. It contains reviews of our activities last year along with summaries of the judgments that were issued. The link is below and I hope people find it interesting. Qatar Financial Centre (QFC) Authority, Qatar Financial Centre Regulatory Authority (QFCRA) & Qatar Free Zones Authority. #law #lawyers #courts #judiciary #judges #commerciallitigation #disputeresolution #doha #qatar #qicdrc

Do you know about the Banking (Credit Reference Bureau) Regulations, 2020? 🤔 Mikhala Barasa and I breakdown the regulations simply for all of us to know: 1. How lending institutions list individuals on CRB 2. How to get your name out of the CRB listing 3. How to Maintain a positive CRB score Follow us on YouTube to learn more on the Kenyan Regulatory landscape 😊

The FATF placed SA on its grey list in February 2023 because its regime for combating money-laundering and terror financing was found to be deficient in 22 aspects, including the level of supervision by the FIC of non-financial banking institutions, including legal practitioners, estate agents, casinos, trust service providers, company service providers, and dealers in precious metals and stones. The main concern related to high-risk legal practitioners and estate agents, who are vulnerable to money-laundering. The lack of cooperation by legal practitioners and estate agencies regarding requests by the Financial Intelligence Centre (FIC) for critical information required by the Financial Action Task Force (FATF) threatens to derail SA’s bid to be removed from the FATF grey list. The information is critical as SA has to submit a report to the Africa and Middle East working group of the FATF by May, reports BusinessLIVE. ACFE SOUTH AFRICA #CFE

Some interesting research here on #PFI expiry in London. I'm sure it won't come as a surprise to anyone that these London boroughs are struggling with issues of capacity and resource as projects move into their expiry phase. This is an issue not restricted to London, but rather one that is being replicated up and down the country. Resources need to be directed towards expiry & handback operations as a new area of business, not treated as business as usual where individuals are expected to carry out the complex business of transferring an asset from the private sector back into public ownership while also doing their day jobs. https://lnkd.in/eceXqk-z

It was a pleasure to attend the panel discussion titled Alternative Dispute Resolution Tools in Investor State Disputes hosted by the Saudi Ministry of Investment as one of the final events of the #ridw24 last week. The panel moderated by Ahmed Hamdan involved an insightful discussion between Bryan Clark, Tat Lim, Eleni Charalambidou, Faris Algarni, PhD, Sherif Elnegahy and Sophie Tkemaladze, FCIArb. Some of the key discussions involved: 📢The increasing trend for mediation especially for disputes between co-founders and team members in the #venturecapital space. 📢The ICSID's experience of mediations with disputes involving stakeholders with mostly shared common interests. 📢The increasing need for stronger laws that emphasize greater confidentiality of the mediation proceedings and enforcement of the mediation agreements together with regulatory frameworks for training, accreditation and a code of conduct for mediators. 📢The #KSA, Ministry of Justice - KSA, Saudi Ministry of Investment and SCCA's dedicated efforts for consistently developing capacity building projects to promote mediation in Saudi Arabia. In totality, the discussions signaled an increase in avenues for #InternationalMediation both in the Gulf region and internationally and it was great to be part of this discussion! #KSA #Mediation #ridw24 #SCCA #SaudiMinistryofInvestment #SaudiMinistryofJustice

On March 11, 2024, the Financial Action Task Force (FATF) released new guidelines focusing on the transparency and beneficial ownership of legal entities, with special attention to trusts and analogous legal structures. These guidelines aim to prevent the misuse of such entities for illicit purposes by making the identification of beneficial owners a critical requirement, in line with FATF's Recommendation 25. The document examines the nature and involved parties of express trusts, pinpointing the vulnerabilities these entities might face. It offers detailed advice on evaluating these risks and suggests strategies for both their prevention and reduction. Moreover, the FATF highlights the necessity of maintaining current and precise information on beneficial ownership. The guidelines lay out steps for authenticating this data and define the responsibilities of trustees and registration bodies in ensuring the transparency of these legal arrangements. #fatf #ubo #investmentfund #aml #compliance #luxembourg #caymanislands #london #dublin #uae