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As Saudi Arabia moves towards an age of increased digital participation, local financial institutions have begun to digitise their services to keep up with the global trend. While this shift towards modernisation offers vast potential benefits for businesses and consumers alike, it also introduces new cyber security risks, which must be addressed.

Traditional risk management has been an essential facet of every large enterprise for decades. However, this framework faces certain limitations that prevent it from fully addressing business risk in the current landscape.

The cyber security landscape is constantly evolving, and businesses must stay ahead of the latest threats to protect their data and networks. In Saudi Arabia, the importance of cyber security is becoming increasingly clear as the country moves towards Vision 2030.

The Personal Data Protection Law (PDPL) was implemented by Royal Decree M/19 of 9/2/1443H (16 September 2021) approving Resolution No. 98 dated 7/2/1443H (14 September 2021). It was published in the Official Gazette on 24 September 2021. The Saudi Data & Artificial Intelligence Authority (SDAIA) will supervise the implementation of the new legislation for the first two years, following which a transfer of supervision to the National Data Management Office (NDMO) will be considered.

From liquidity to debt and restructuring, we address the diverse and complex challenges faced by airlines, leasing companies and aircraft funds in particular. We also consider implications for employers and how financial planning for the medium and long term will be affected.

The global pandemic has provided an enormous shock to businesses and, for many in the mid-market, fundamentally tested their ability to deal with crisis and disruption. We share insights relating to the risk and governance elements and how this can support in the effort to retune a business.

Tax Alert: New 5 per cent tax on real estate transactions in Saudi Arabia.

In recognition of cyber awareness month, we share insights for businesses and employees, which will mitigate risk and enable a more secure and safe cyber environment.

In recognition of cyber awareness month, we share insights for businesses and employees, which will mitigate risk and enable a more secure and safe cyber environment.

Rethinking Resilience in Recovery

Doing business in Saudi Arabia guide

Cyber Security and the role of the Board

This HBR article summarises opportunities which businesses can harness during a crisis in order to build resilience.

Businesses of all shapes and sizes are trying to carve out competitive advantage by leveraging digital information. But owing to the increased use of personal data, it also creates vulnerabilities and inter-dependencies between two previously discrete threats – data privacy and cyber security.

Businesses of all shapes and sizes are trying to carve out a competitive advantage by leveraging digital information. The most cutting-edge companies harness customer preference data for a range of reasons, including to create personalised services and targeted marketing campaigns; to scrutinise employee performance data to drive productivity; and to analyse supply chain information to drive efficiencies. And that’s just the tip of the iceberg, with digitised data embedded across business practices.

Digital risk. Recommendations for balanced cyber risk management.