Saudi Press

Saudi Arabia and the world
Thursday, Mar 23, 2023

Three foreign law firms granted licenses to operate in Saudi Arabia

Three foreign law firms granted licenses to operate in Saudi Arabia

Three foreign law firms were granted licenses to operate in the Kingdom at the International Conference on Justice in Riyadh on Sunday.

Minister of Justice Walid Al-Samaani and Minister of Investment Khaled Al-Falih presented the documents to Herbert Smith Freehills, Latham & Watkins and Clifford Chance.

These are the first such licenses to be granted since the Council of Ministers approved amendments to the Code of Law Practice on the subject. The ministry had previously approved implementing regulations for licensing foreign law firms.

With the rule change, the justice minister aims to develop the legal profession, raise the efficiency of its practitioners and improve the business and investment environment in the Kingdom.

Joza Alrasheed, managing partner of the law office of Joza Alrasheed in partnership with Herbert Smith Freehills, told Arab News: “This is a historical day for the Kingdom of Saudi Arabia today as we are celebrating the licensing of foreign international firms. This is in line with Vision 2030 and the giga-projects that the Kingdom is now leading and also the bespoke projects that it will continue to do.

“I think the key point and drive of this initiative is to transfer the global knowledge of very renowned international law firms to train and develop the skill sets of our young generation and young future lawyers to pave the way for the future.”

Mohammed Al-Shukairy, head of the Clifford Chance Middle East region (left) and Dr. Fahad Abuhimed, managing partner of AS&H.


Alrasheed said being the first Saudi female to become a partner of a global law firm was a “very new step,” and she hoped “many more of my colleagues and females would be in the same position.”

Clifford Chance and Abuhimed Alsheikh Alhagbani Law Firm also announced their agreement to enter into a 50-50 joint venture, and they will be now known as AS&H Clifford Chance.

Clifford Chance is one of the world’s pre-eminent law firms, with significant depth and range of resources across five continents and a strong client base that includes leading corporates, financial investors, governments, regulators, trade bodies and not-for-profit organizations.

Joza Alrasheed, managing partner of the law office of Joza Alrasheed in partnership with Herbert Smith Freehills.


It has had an on the ground presence in Saudi Arabia for many decades in a variety of forms and has operated in cooperation with AS&H since November 2016. The cooperation has been highly successful and a key part of Clifford Chance’s market-leading Middle East practice.

AS&H is the leading law firm in Saudi Arabia and has a deep bench of 64 Saudi nationals and internationally qualified lawyers who are specialists across a range of practice areas including corporate, banking and finance, debt and equity capital markets, antitrust, regulatory, public policy, litigation and dispute resolution, real estate, construction and public-private partnerships.

In conjunction with Clifford Chance, AS&H has amassed a wealth of experience in Saudi Arabia and has led the market in developing many of the features of existing market practice.

The team regularly advises key Saudi ministries and government-owned entities as well as a wide range of government owned, privately and publicly held Saudi and international businesses, listed companies and financial institutions. The firm has a strong track record of advising on some of the most innovative and groundbreaking transactions in Saudi Arabia.

Dr. Fahad Abuhimed, AS&H Clifford Chance managing partner, said: “This exciting new joint venture further cements the unique relationship that Clifford Chance and AS&H have enjoyed for the last six years in the Kingdom and which has created an unrivaled legal powerhouse in Saudi Arabia.”

Charles Adams, Clifford Chance Global managing partner said: “We are delighted to be creating an even stronger and more integrated Saudi offering through our new joint venture arrangement with AS&H. We look forward to working together in continuing to provide our local, regional and global clients with the highest quality advice and support in this exceptionally dynamic and fast-growing market.”

Newsletter

Related Articles

Saudi Press
Close
0:00
0:00
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Goldman Sachs cuts outlook for European bank debt over Credit Suisse crisis
Paris Rioting vs Macron anti democratic law
Credit Suisse to borrow $54 billion from Swiss central bank
Russian Hackers Preparing New Cyber Assault Against Ukraine
"Will Fly Wherever International Law Allows": US Warns Russia After Drone Incident
If this was in Tehran, Moscow or Hong Kong
Announcing GPT-4
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
China is calling out the US, UK, and Australia on their submarine pact, claiming they are going further down a dangerous road
A brief banking situation report
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
Good news: The U.S. government is now guaranteeing all deposits, held by, Silicon Valley Bank, and the funds are available as of today
Silicon Valley Bank exec was Lehman Brothers CFO
Saudi Arabia has announced a major breakthrough in diplomacy with Iran after two years of intense talks
A Mississippian man, who was once considered a “ticking time bomb,” has lost a whopping 165 kilograms! What motivated this incredible transformation?
Elon Musk Is Planning To Build A Town In Texas For His Employees
The Silicon Valley Bank’s collapse effect is spreading around the world, affecting startup companies across the globe
Market Chaos as USDC Loses Peg to USD after $3.3 Billion Reserves Held by Silicon Valley Bank Closed.
Barcelona is feeling the heat as they face corruption charges over payments to former vice-president of Spain's referees' committee, Jose Maria Enriquez Negreira
Banking regulators close SVB, the largest bank failure since the financial crisis
Watch: “They are wounded but unbowed, unbreakable.”
Silicon Valley Bank: Struggles Threaten Tech Startup Ecosystem"
The unelected UK Prime Minister Rishi Sunak, an immigrant himself, defends new controversial crackdown on illegal migration
Old clip of Bill Gates saying Ukraine is a big, fat, corrupt sinkhole is going viral
Saudi Arabia To Introduce Yoga In Universities
Middle East real estate market to see strong growth in 2023, predicts CBRE.
In a major snub to Downing Street's Silicon Valley dreams, UK chip giant Arm has dealt a serious blow to the government's economic strategy by opting for a US listing
Saudi Aramco, the energy giant, has acquired Valvoline Inc., a US-based oil company, for $2.65 billion
How do stolen goods end up on Amazon, eBay and Facebook Marketplace?
It's the question on everyone's lips: could a four-day workweek be the future of employment?
Is Gold the Ultimate Safe Haven Asset in Times of Uncertainty?
Spain officials quit over trains that were too wide for tunnels...
Hello. Here is our news digest from London.
Corruption and Influence Buying Uncovered in International Mainstream Media: Investigation Reveals Growing Disinformation Mercenaries
When it comes to Tesla vs Lamborghini, an empty vessel makes more noise
European MP Clare Daly condemns US attack on Nord Stream
Former U.S. President Carter will spend his remaining time at home and receive hospice care instead of medication
North Korea test-fires an intercontinental ballistic missile into the Sea of Japan west of Hokkaido
Tucker Carlson called Trump a 'demonic force'
US bombed Nord Stream gas pipelines, claims investigative journalist Seymour Hersh
Sheikh Jassim Bin Hamad Al Thani bid in for 100% of Manchester United
US Joins 15 NATO Nations in Largest Space Data Collection Initiative in History
White House: No ETs over the United States
Saray Street in Hatay-Antakya before and after the earthquake
U.S. Jet Shoots Down Flying Object Over Canada
Nord Stream terror attack: David Sacks breaks down Sy Hersh's story
Being a Tiktoker might be expensive…
Miracle: El Salvador Search and Rescue teams, with the support of Turkish teams, rescued a woman and a child from the rubble 150 hours after the earthquake
×