01 | UAE e-invoicing service providers move to direct accreditation

As of 2026-10-12, access to the UAE market for e-invoicing service providers has shifted from preliminary approval to direct accreditation. Businesses preparing their e-invoicing systems should confirm that prospective providers have completed the assessments and testing required under the current framework. Preliminary approval issued under the former system should not be treated as formal accreditation.

The UAE Ministry of Finance issued Ministerial Decision No. 168 of 2026, replacing Ministerial Decision No. 64 of 2025 and its amendments, with effect from 2026-10-01. The new framework removes the preliminary approval stage. Service providers must complete the prescribed accreditation assessment and testing before they can be accredited to provide e-invoicing services in the UAE.

Service providers may continue to use third-party Peppol service provider products and may outsource the development, operation or management of those products or their e-invoicing services. They remain fully responsible for compliance and service delivery. The decision also defines procedures for accreditation renewal, ongoing evaluation, termination and objections to termination decisions. Providers that had already received preliminary approval have 30 days from 2026-10-01 to meet the new requirements. They do not need to submit a new application unless the Ministry determines otherwise; failure to complete the requirements within that period will result in termination of the preliminary approval. Implementation remains subject to the latest official publication by the UAE Ministry of Finance.

Source: Ministry of Finance, 2026-10-09

02 | Iraq’s investment law amendment remains under discussion

Iraq is considering amendments to Investment Law No. 13 of 2006, but the process remains at the workshop and draft-development stage. Businesses assessing projects in Iraq should not treat the proposals as effective approval rules. For now, they can monitor whether provisions on simpler procedures, the powers and responsibilities of investment bodies, and coordination between national and provincial authorities appear in the final text.

The Investment and Development Committee of Iraq’s Council of Representatives held a workshop attended by lawmakers, heads of provincial investment commissions and representatives of relevant bodies. Participants reviewed a draft amendment focused on creating a coherent legal framework for investment institutions, addressing obstacles to project implementation and improving coordination between the National Investment Commission and provincial investment bodies.

The chairman of the National Investment Commission said the proposed changes are intended to simplify procedures, improve legislative clarity and make Iraq more attractive to quality investment. Further technical and legal meetings will be held at the commission’s headquarters before the draft is finalised and moves to the next stage.

Source: Iraq Business News, 2026-10-12

03 | Oman’s recruitment agency rules extend responsibility across licensing, contracts and worker protection

Oman will introduce new operating rules for agencies recruiting non-Omani workers from 2027. Employers should verify an agency’s licence and its use of Ministry-approved contracts before hiring. Recruitment timelines, responsibility for fees and dispute handling will also fall under the new framework.

Ministerial Decision No. 390/2026 of Oman’s Ministry of Labour will take effect on 2027-01-01. Recruitment activities will be restricted to agencies licensed by the Ministry. The framework introduces standard contracts and forms, a register of licensed agencies, financial guarantees and dispute-resolution procedures. An applicant’s owner, partners and authorised signatories must be Omani, and the owner or one partner must manage the business full-time. Applicants must also provide the Ministry with a financial guarantee of OMR 5,000.

The rules require agencies to use Ministry-approved contracts, provide a two-year guarantee for recruitment services and complete recruitment within 45 days. Agencies may not charge recruitment fees to workers and must provide accommodation and care while workers remain in their custody. Penalties include OMR 100 per worker for recruiting domestic workers through unlicensed channels, OMR 50 per contract for failing to use an approved contract or provide a job offer, and OMR 500 for an unauthorised licence transfer. The last violation may also lead to licence cancellation and publication of the agency’s name. Implementation remains subject to the latest official publication by Oman’s Ministry of Labour.

Source: Muscat Daily, 2026-10-11

04 | Saudi long-term crude contracts may allow collection outside the Strait of Hormuz

Saudi discussions with buyers indicate that collection points, freight costs and pricing benchmarks for long-term crude contracts may be adjusted in response to transport risk. Negotiations are still in progress, so businesses should not treat collection outside the strait as a confirmed contract term.

Briefs Finance reported that Saudi officials are discussing arrangements for buyers to collect crude supplied under next year’s long-term contracts at locations outside the Strait of Hormuz. The proposal would place the ship-to-ship transfers used during the conflict on a more formal footing. Pricing, freight and eligible volumes remain under negotiation, with discussions expected to conclude by year-end.

Saudi Aramco has used this arrangement to transport Arab Light, Arab Medium and Arab Heavy crude and has allowed some buyers to complete ship-to-ship transfers off the coast of India. The company is also assessing options that include alternative pricing benchmarks, delivery directly to Asian buyers and assuming the shipping role itself. The report states that no final decision has been made, while Saudi Aramco and the Saudi Ministry of Energy did not respond to requests for comment.

Source: Briefs Finance, 2026-10-08

05 | Türkiye’s proposed principal repayments for fund investors still require parliamentary approval

Türkiye’s proposed repayment mechanism would provide advance payments to investors in funds under liquidation; it is not compensation that has already been paid. Whether an investor receives a payment, and the amount, will depend on passage of the bill, verification of entitlement and the fund’s available assets.

The ruling party’s parliamentary group leader said the bill could allow about 350,000 investors to recover their net principal, with advance payments capped at TRY 1 million. The total number of affected investors was estimated at about 455,000. Investors whose net investment is below TRY 1 million could receive their net investment amount, while those with larger investments could receive up to TRY 1 million. If available cash is insufficient, the Capital Markets Board could prioritise investors with smaller balances or establish a common minimum advance.

Inflation compensation would be calculated separately at final settlement, with further payments made as assets are sold and funds recovered. The proposal would not use public funds. A fund’s founder or manager would bear primary liability for losses caused by unlawful asset transfers; if recovery from that party is impossible, other persons or entities held responsible by the Capital Markets Board could face personal liability. The nine-article bill was submitted on 2026-10-09 and is scheduled to go first to Parliament’s Plan and Budget Commission before consideration by the General Assembly.

Source: Hürriyet Daily News, 2026-10-10

06 | Iraq’s exchange-rate protection covers only previously confirmed transfers

The scope of the Central Bank of Iraq’s arrangement is narrow. Traders will not bear the difference created by the new exchange rate only for import transfers whose foreign-currency purchase and funding had been confirmed at the previous rate before 2026-10-07. Transactions that had not completed this confirmation cannot automatically use the same treatment.

The Central Bank said it is reviewing banking transactions conducted before and after the exchange-rate adjustment and monitoring banks’ compliance with current instructions. Eligible companies and traders should contact their banks to confirm whether their import-finance transfers have been processed. The Central Bank had already funded bank accounts to cover these transfers and will track delays.

If a bank delays execution or requests additional payment, traders may file a complaint through the Central Bank of Iraq’s complaints platform. The Central Bank is also coordinating with banks and electronic-payment companies to introduce dedicated foreign-trade cards for small-scale traders, with the aim of facilitating import finance. Implementation remains subject to the latest official publication by the Central Bank of Iraq.

Source: Asharq Al-Awsat, 2026-10-10

Other updates

  • 07 | Saudi Arabia waives work-permit arrears under status correction for Yemenis: A 60-day status-correction initiative waives overdue work-permit fees for eligible Yemeni professionals reported absent before 2026-06-16 and allows them to transfer to new employers. (Source: Gulf News, 2026-10-11)
  • 08 | Iraq and World Bank discuss government procurement reform: Iraq’s Ministry of Planning and the World Bank discussed procurement reform, an electronic procurement system, transparency in government contracts and specialist training programmes. (Source: Iraq Business News, 2026-10-12)
  • 10 | Bahrain businesses urged to prepare tax and e-invoicing systems: Grant Thornton Bahrain tax specialists urged businesses to upgrade core systems, clean transaction data and strengthen financial controls ahead of proposed corporate income tax and e-invoicing changes. (Source: GDN Online)
  • 11 | UAE and Saudi Arabia support stronger Asian oil reserves: The UAE and Saudi Arabia expressed support for a Japan-led initiative on oil supply and strategic stockpiles in Southeast Asia, discussed at a special Asia Zero Emission Community meeting in Manila. (Source: Gulf News, 2026-10-09)
  • 12 | Iraq’s 2027 budget faces a deficit of nearly IQD 50 trillion: Iraqi parliamentary estimates put the draft 2027 federal budget deficit at nearly IQD 50 trillion, with a proposed spending ceiling of about IQD 217 trillion. (Source: Iraqi News, 2026-10-11)
  • 13 | Türkiye completes the first stage of its public participation finance merger: A wholly owned Türkiye Wealth Fund subsidiary signed agreements to acquire all shares in Ziraat Katılım and Halk Katılım, completing the first stage of the merger. (Source: Türkiye Wealth Fund)
  • 14 | Iraq tightens inspections of imported goods: Iraq’s Ministry of Trade is working with standards, regulatory and customs authorities to strengthen conformity-certificate checks, laboratory sample testing and pre-shipment inspections. (Source: Iraqi News Agency)
  • 16 | Dinar devaluation intensifies Iraq’s budget dispute: The Iraqi dinar’s devaluation has triggered a public dispute over the 2027 budget, with lawmakers asking the prime minister to reverse the exchange-rate adjustment before the budget reaches Parliament. (Source: Iraq Business News, 2026-10-09)
  • 19 | UAE food producers respond to new sodium, sugar and fat limits: The UAE has set limits for packaged foods including bread, flavoured yoghurt, laban, processed cheese and chips, with the final limits applying from 2030-12-31. (Source: Gulf News, 2026-10-10)
  • 20 | Qatar offers technology companies up to USD 5.5 million for expansion: Qatar Development Bank’s Startup Qatar Investment Program offers technology start-ups up to USD 5.5 million to establish or expand in Qatar, alongside licensing, visa, workspace, recruitment and market-access support. (Source: CairoScene)
  • 21 | Qatar’s LNG expansion project targets production in early 2027: The first production unit at QatarEnergy’s North Field East project is expected to be ready for start-up in November, with LNG production expected to begin in the first quarter of 2027. (Source: Yahoo Finance, 2026-10-09)
  • 23 | World Bank Group mobilises USD 6.7 billion in private capital for Egypt: Since fiscal year 2022, the group has mobilised nearly USD 6.7 billion for renewable energy, port infrastructure, affordable housing and entrepreneurship in Egypt. (Source: Daily News Egypt, 2026-10-11)
  • 24 | Dubai Cashless Strategy exceeds its target early and contributes AED 8 billion: The strategy has contributed more than AED 8 billion to the economy, while the cashless transaction index reached 90.1%, exceeding its original 90% target ahead of schedule. (Source: The National, 2026-10-09)
  • 28 | Egypt’s new fiscal-year development plan targets 5.4% growth: Egypt reviewed its economic and social development plan for fiscal year 2026/2027, targeting 5.4% growth and total planned investment of EGP 3.7 trillion. (Source: Daily News Egypt, 2026-10-11)
  • 29 | Egypt and Indonesia advance a trade agreement and joint wealth fund: The two countries agreed to accelerate negotiations on an economic partnership agreement and supported a joint fund between their sovereign investment institutions for strategic cross-border projects. (Source: InvestorTrust, 2026-10-11)
  • 30 | Saudi Arabia’s Jabal Sayid discovery advances its rare-earth plans: The Jabal Sayid belt is estimated to contain 114 million tonnes of resources, including about 552,000 tonnes of heavy rare earths and 355,000 tonnes of light rare earths, as Saudi Arabia develops domestic processing and manufacturing capacity and a rare-earth refining partnership. (Source: Arab News Japan, 2026-10-10)

Last updated: October 2026. This content is for informational purposes only and does not constitute legal or tax advice.