New rules for schools

Saudi Arabia approved the executive regulations for its new General Education Law, completing one of the Kingdom’s most sweeping overhauls of K-12 education governance in a decade, according to a royal decree published on Umm Al Qura.

One regulator, one rulebook: The legislation establishes a general education affairs council, chaired by the education minister, bringing together government agencies, regulators, and private-sector representatives under the same governance structure. The council will oversee strategy, admission policies, teacher regulations, private and virtual schools, and the academic calendar, replacing a fragmented decision-making process that previously required approvals from different bodies.

Facing higher standards: The law introduces stricter accreditation requirements and gives the Education Ministry greater oversight of licensing, ownership transfers, school operations, and international curricula.

The bigger picture: The overhaul replaces regulations dating back to 1969 and creates a unified legal framework governing education from nursery through Grade 12.

Malaa joins the payments field

Sama licensed Malaa Company for Information Technology to provide payment account information services, one of the offerings tied to open banking, according to an announcement. The move brings the total number of licensed payment service providers in Saudi Arabia to 33.

Almunajem seeks 20.3% of Al Jouf

Almunajem Foods is raising its stake in Al Jouf Agricultural Development to up to 20.29%. The company signed a binding subscription agreement to take 4.5 mn new shares at SAR 52.5 each, a total of SAR 236.25 mn, through a capital increase with pre-emptive rights suspended, according to a Tadawul disclosure. Almunajem already holds 8.3% in Al Jouf Agricultural. The agreement also provides for a reconstitution of Al Jouf Agricultural's board upon completion.

Approvals pending: CMA, Tadawul, and Al Jouf Agricultural shareholder approval are still required.

REMEMBER- Almunajem first announced its intention to become a strategic investor in Al Jouf Agricultural in February.