TGA freezes land transport fines for a year

Land transport operators will have a 12-month breathing room, as the Transport General Authority freezed all financial fines imposed by the Land Transport Law’s executive regulations, according to a decision published in Umm Al Qura (pdf). The move allows businesses to navigate the transition to the new framework without immediate financial pressure.

BACKGROUND- The fines were introduced to move the industry away from haphazard stops and toward a regulatory system that tracks trips and licenses operators. Weight limits for transport were also set to protect the road infrastructure.

Sama speeds up check clearing with new digital service

Sama is looking to slash the clearing window of checks to a single day, introducing the Electronic Check Clearing System (ECCS) into its e-services portal, it said in a statement on Thursday.

The rationale: Multi-day clearing windows trap liquidity. Reducing the cycle to a single business day could provide an injection for SMEs and corporate entities that rely on check-based payments for B2B transactions, allowing for faster reinvestment and more predictable working capital management.

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