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More than 3,000 Visitors Benefit from the Services Provided by the Commission at the Saudi Accountants Forum

The Bankruptcy Commission participated in the Saudi Accountants Forum that was held in Riyadh on 4-2/06/1441 corresponding to 29-27/01/2020 under the patronage of the Minister of Commerce and Investment Dr. Majid bin Abdullah Al Qasabi, at Riyadh International Convention and Exhibition Center.

The Commission's aim by participating in this forum was to raise awareness about the Bankruptcy Law and its procedures, to identify the frameworks and tools provided by the Bankruptcy Law for corporate financial restructuring and to understand the importance of early warning signs of financial distress, as well as by elaborating on the regulatory environment of financial occupations in bankruptcy, conducting five workshops and an awareness booth in the accompanying exhibition.

More than 3,000 visitors benefited from the services provided by the Commission, which targeted bankruptcy officeholders, accountants, lawyers, academics, the entire business community and other stakeholders.

In his speech, his excellency the Secretary General of the Bankruptcy Commission, Mr. Majid Bin Abdulrahman Al Rasheed, elaborated on the regulatory environment of bankruptcy, the commission's role in enabling the law, the licensing conditions, the legal training in bankruptcy procedures, and the accountant's effective role in Bankruptcy Law. He pointed out that the Commission licenses officeholders in accordance with the conditions stipulated by the Bankruptcy Law and the Code of Licensing Officeholders and Experts issued by the Commission, as well as in accordance with the professional training requirements.

During the two-day forum, the Commission held three workshops: Bankruptcy legal training, corporate financial restructuring procedures, and the importance of early warning signs of financial distress. These workshops aimed to raise awareness of the Bankruptcy Law and its applications.

In order to raise awareness about the Law, the Commission had a booth to raise awareness, it showcased many publications and guide manuals and an interactive screen service called "Test Your Knowledge in Bankruptcy Law" that had specific questions about the Bankruptcy Law and Implementing Regulations.​