Saudi Arabia’s Shura Council ratified today the Kingdom’s new Bankruptcy Law, which allows creditors and debtors to enter into agreements to schedule the payment of debts. The bill, which consists of 17 chapters and 321 articles, regulates bankruptcy procedures such as preventive settlement proposals, financial restructuring, and liquidation. In Sep, Minister of Commerce and Investment Majid al-Qusaibi said the government will begin implementing the new Bankruptcy Law in early 2018, as part of wider efforts to attract foreign investments and encourage activity in the private sector.