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Role

Commission Members


The Commission was established by the Council of Ministers decree No (623) dated 4/9/2018 A.D, according to Article (9) of the Bankruptcy Law issued by a Royal Decree No. M/05 dated 13/2/2018 A.D. The Commission possess a corporate personality and is financially and administratively independent, under the supervision of H.E Minister of Commerce and Investment.​

The Commission worked, since its establishment, in fulfilling several administrative and technical duties, stipulated in the Bankruptcy Law and its Implementing Regulations as the following:




  • Supplementing bankruptcy regulatory environment by developing regulatory standards, forms, and documents stipulated in the Law and Regulations.
  • Managing the administrative liquidation procedure.
  • Licensing officeholders and experts after acquiring a set of necessary skills and knowledge that are provided by the Commission within specialized qualification programs.
  • Developing a list of officeholders and experts, and post it on the Bankruptcy Commission's website.
  • Contributing to improving bankruptcy procedures' efficiency through processes of examination and investigation to ensure parties are compliant to the regulatory conditions.
  • Promoting trust and transparency in bankruptcy procedures by creating, maintaining, and managing the bankruptcy register.
  • Establishing activities and participating in events that aim to raise awareness regarding the Law.
  • Enabling the implementation of Bankruptcy Law by developing specialized manuals and providing appropriate electronic services.
  • ​Establishing partnerships with public and private sectors to promote effectiveness of the implementation of the Law's provisions.
  • Periodically reviewing the Law's provisions, Regulations, rules, relevant instructions, guidelines, coordinating with relevant stakeholders, and proposing necessary amendments in accordance with approved regulatory procedures.

 


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