The business world is very hectic with a lot of problems occurring. In order to ascend quickly in business, a few moves needs to be done by companies that might be illegal. These companies are always striving for better results with no regard of the legalities. However, the main problem comes at the hands of the government and the system. When there isn’t a strong control over the transactions and actions being conducted by a business, it is easy for them to have space to add more illegal moves to the list.
In Saud Arabia, the majority of companies are moving towards these directions. The government has long not been involved in the actions of the companies which has led to many misfortunates. However, with the new focus of the country to expand and start a new economic reach, it has been the first move to start cleaning out all the problems.
In the past 9 month, the Saudi courts were able to handle a total of 30,000 financial cases. All these cases were connected to companies and individuals who fell in faulty financial schemes. However, the number of commercial cases was much more than the usual number. This total value is a 25% increase compared to the previous year (22,700 cases) which is a huge increase.
These were all met in the three main courts in Saudi Arabia that are related to commercial disputes including the court in Riyadh, Jeddah and Dammam. Riyadh had the most cases (44.9%) followed by Jeddah and then Dammam.