“It is a significant milestone for KSA as, prior to this new Law, Islamic Law (Shari’a) derived mainly from the principles of the Holy Qur’an and the Sunnah (prophetic teachings of the Prophet Muhammad) has governed contracts in KSA. This codification will have a major impact on contractual relationships in KSA, both nationally and internationally. It is most definitely a seismic shift for KSA, underpinned by its Vision 2030, to attract major investment to the country at a time when KSA is also in parallel rolling out its Regional Headquarters Program.” 

The New KSA Civil Transactions Law in Saudi Arabia [Dentons]