The Legal Protection of Unfair Commercial Practices - An Analytical Study on the Anti-Commercial Fraud Law

Abstract

This study critically examines the Anti-Commercial Fraud Law's provisions and its implementing regulation to determine whether or not these provisions can draw Saudi and foreign investors and buyers to the Saudi market by adequately protecting them from deceptive commercial practices. To achieve one of the most important pillars of the Kingdom of Saudi Arabia 2030 vision, represented by the pillar of a thriving economy, this study seeks to identify potential legal gaps in the existing legislation and proposes practical solutions to fill them in a way that protects the interests of the contracting parties and contributes to the expansion of the economic base. This study used a comparative analytical approach to accomplish this aim, where topics within the study's purview are critically examined and compared to pertinent Sharia law and Positive law regulations to advance the subject of study.  This study produced several findings, the most important of which are: The name of the current law, "Anti-Commercial Fraud Law," only refers to one of the practises that are forbidden by the law and its implementing regulation. Additionally, the law and the regulation do not effectively address certain sorts of deceptive commercial practices that are prevalent in the Saudi market, and their provisions are only applicable to tangible goods.  One of the study's most significant recommendations is that the law's name should be changed to one that expresses the unfair commercial practices that are forbidden by the law and its implementing regulation. Additionally, it is necessary to provide provisions that can adequately contribute to minimise the most prominent unfair commercial practices that are prevalent in the Saudi market, meanwhile, there is a still need for developing the legal provisions of the law and the regulation to be appropriate with the nature of intangible goods and services.