The National Competitiveness Center's Public Consultation Platform, Istitlaa, has put forward 28 projects related to economic and development affairs. In cooperation with 18 government bodies, the NCC invites the general public, government entities, and the private sector to express their views and feedback on projects prior to their approval.
The Insurance Authority has launched a public consultation on a project titled 'Insurance Market Code of Conduct Regulation.' The project aims to achieve a balance between the interests of companies in the sector and the protection of the insured by regulating offsetting on clear, systematic grounds. Public feedback on this project will be accepted until November 24, 2025.
The Saudi Energy Efficiency Center has put forward a key project on the Istitlaa platform titled 'Energy Efficiency Framework in the Utilities Sector.' This project aims to establish a regulatory framework for energy efficiency in the utilities sector that includes energy efficiency requirements and targets for existing and new power generation, cogeneration, and seawater desalination plants, as well as electricity transmission and distribution networks. Public feedback on the project is open until November 25, 2025.
The Saudi Central Bank is seeking public feedback on a new project draft titled 'Updated Oversight Framework for Payment Systems and Their Operators.' The project aims to update the oversight framework for payment and settlement systems, which was necessitated due to the recent changes in the legal and regulatory environment. The updates also aim to align the framework with international best practices. Public consultation on this project will remain open until November 27, 2025.
The Capital Market Authority has put forward a key project on the Istitlaa platform titled 'The Amendments of The Implementing Regulation of the Companies Law for Listed JSC.' This project aims to establish regulatory controls for the governance of requests for the removal of Board members by the ordinary general assembly, in addition to developing the regulatory framework for determining the value of distributable profits. Public feedback on the project is open until December 12, 2025.
The introduction of draft regulations, publics, and similar projects through the Istitlaa platform serves as an affirmation of enhanced transparency in the legislative environment. In addition, Istitlaa fosters a culture of public participation by enabling citizens, government agencies, and the private sector to contribute their insights and feedback on proposed regulations related to the business environment.