The Royal Oman Police (ROP) has officially extended the validity of resident cards for expatriates to a maximum of three years, following recent amendments to the Executive Regulations of the Civil Status Law.

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According to Decision No. 78/2025, issued by Lieutenant General Hassan bin Mohsen Al Shraiqi, Inspector General of Police and Customs, and published in the Official Gazette (Issue 1608), expatriate resident cards can now be issued or renewed with the following options: one year for OMR 5, two years for OMR 10, and three years for OMR15, an Oman Observer report conveyed.

Cardholders are required to renew their resident cards within 30 days of expiry to remain in compliance with national regulations.

In a related move, the validity of national ID cards for Omani citizens has also been extended, from five years to ten years. The issuance and renewal fee for the Omani ID card is set at OMR10, which also applies to replacements for lost or damaged cards.

The last update to the Executive Regulations came in 2021, when ID card eligibility was expanded to include residents and citizens from the age of 10, with optional issuance available for younger children based on specific conditions.

Abu Dhabi-based AI and big data analytics firm Presight has signed a memorandum of understanding with Dow Jones Factiva to explore co-developing AI-native risk and compliance solutions for financial institutions, regulators and sovereign entities.

The collaboration will combine Dow Jones Factiva’s regulatory-grade risk, legal and sustainability data with Presight’s sovereign AI infrastructure and agentic AI capabilities.

The companies aim to build predictive systems for sensitive areas of the global financial ecosystem.

“This collaboration seeks to bring together the best of both worlds: Dow Jones Factiva’s unparalleled depth in regulatory-grade data and Presight’s sovereign-scale AI delivery,” said Thomas Pramotedham, Presight’s chief executive.

“Together, we’re working towards redefining how institutions approach risk – through real-time, predictive, and contextualised intelligence,” he added.

Potential products under discussion include AI tools for identifying hidden ownership structures across borders, tracking sustainability controversies, detecting legal and policy risks, monitoring adverse media coverage, and mapping exposure to sanctioned actors.

Presight and Dow Jones Factiva tie-up a pivotal step

Joel Lange, executive vice president and general manager of Dow Jones Risk & Research, said the discussions could “mark a pivotal step in the development of next-generation risk solutions” for global financial institutions and regulators.

The companies plan to launch in the Gulf, targeting sovereign wealth funds, central banks, tier one banks and supervisory authorities, before expanding into Southeast Asia, Central Asia, North Africa, the UK and the United States.

Presight is listed on the Abu Dhabi Securities Exchange and majority-owned by G42. Dow Jones, a unit of News Corp, publishes the Wall Street Journal, Barron’s, MarketWatch and other media and business information services.

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Baker Tilly International, a global network of accounting and advisory firms operating across more than 140 countries with over 43,000 professionals, has officially launched its new member firm in the United Arab Emirates. Headquartered in Dubai and led by newly appointed CEO and managing partner Saad Maniar, the UAE firm enhances the network’s presence in one of the Middle East’s most strategically significant markets.

This launch marks Baker Tilly International’s ongoing commitment to the Middle East and Africa (MEA) region, supported by the UAE’s dynamic economy, advanced infrastructure, and progressive regulatory framework. Through this expansion, clients will benefit from a unique combination of global expertise delivered with a local market perspective.

Saad Maniar, CEO and managing partner of Baker Tilly UAE, said: “Joining Baker Tilly International is a significant milestone for our firm. In an era of rapid change and heightened client expectations, aligning ourselves with a strong global network will enable us to deliver even greater value to our clients. We are excited about the opportunities for knowledge exchange, collaboration and innovation.”

UAE member firm

Focused on quality, the UAE member firm will provide a comprehensive range of services, including audit, tax, and consultancy, designed to equip businesses with agile solutions that help navigate complex challenges and seize growth opportunities across the region and beyond.

Francesca Lagerberg, CEO of Baker Tilly International, added: “MEA is an important region for the future growth of the Baker Tilly network globally. The expertise and reputation for quality demonstrated by our UAE firm aligns perfectly with our core values. It not only strengthens our capabilities in the region but also enhances our ability to support clients with cross-border needs through seamless, integrated solutions.”

This announcement follows key leadership appointments that further demonstrate Baker Tilly’s dedication to the MEA market. In 2023, Chakib Zaari, founder of Baker Tilly Morocco, was appointed regional chair for MEA, while Gagik Gyulbudaghyan assumed the role of regional director—both focused on driving international growth and expanding service capabilities across the region.

With a clear strategic vision, strong leadership, and the support of a globally connected network, Baker Tilly UAE is positioned to become a trusted partner for businesses managing the future of finance, governance, and strategy in an evolving economic environment.

The Ministry of Tourism in Saudi Arabia has reaffirmed that all tourist hospitality facilities in the country must maintain a minimum 20-hour period between check-in and check-out, aligning with international hospitality standards.

According to the policy, check-in and check-out times must be clearly documented in the reservation confirmation, and the total stay must not fall below 20 hours. While hotels and accommodations can set their own schedules based on location and clientele, they must still guarantee the full minimum stay, a Saudi Press Agency report said.

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Late check-ins won’t affect check-out time

Officials clarified that a guest’s late arrival does not alter the stated check-out time. For instance, if a reservation lists check-in at 10:00 p.m. and check-out at 12:00 pm the next day, the full period stands, and any missed time is the responsibility of the guest.

The ministry emphasized that this regulation allows facilities ample time to maintain cleanliness and prepare rooms to high-quality standards for incoming guests. The timing is calculated strictly based on the reservation record.

Guests’ rights and contact support

Additionally, the ministry stressed that travelers are entitled to receive the exact room type, services, and amenities as advertised on booking platforms. Tourists are urged to carefully review hotel policies before confirming reservations.

For questions or complaints, guests can contact the Unified Tourism Center by dialing 930.

The Ministry of Tourism reiterated its commitment to enforcing regulations, protecting guest rights, and enhancing the overall tourism experience in line with international best practices.

Shaped by past global corporate reporting shortfalls, regulatory expectations on governance and financial integrity have become significantly more stringent than they were previously.

Companies are strengthening their internal control frameworks as investors, regulatory bodies, and rating agencies demand reduced risks, transparency, and accountability.

After the Sarbanes-Oxley Act (SOX) (2002) was introduced in the US, following Enron’s collapse, many countries, including Canada, India, the UK, and EU nations, introduced regulations to strengthen the internal controls on financial reporting of listed companies.

New regulations have also been issued in the UAE following the UAE’s Securities and Commodities Authority (SCA) establishing Internal Control on Financial Reporting (ICFR) as mandatory for all UAE-listed companies in 2024.

In 2024, the requirements were limited to performing a self-assessment of ICFR and addressing identified gaps. Auditors were requested to provide an opinion, which was not made publicly.

From 2025 onwards, the SCA requirements are that the company’s external auditor must provide an opinion on the effectiveness of the overall internal control and risk management system (going even beyond ICFR), and this opinion must be publicly disclosed.

The evolving expectations around financial reporting governance

As financial reporting became more complex and need for compliance with financial accounting standards grew, companies started shifting from traditional financial checks to more digitalised, integrated, and continuous internal control systems such as continuous controls monitoring (CCM).

These systems produce real-time results and reduce human error, ensuring accuracy, greater time and cost-efficiency. This transformation reflects a new mindset in governance and risk management.

Most, if not all, internal control systems are based on the COSO framework, a global benchmark that emphasises risk management, continuous monitoring, and process automation through technology. SOX mandates internal control documentation and independent control assessments and has set a standard for accountability and transparency in the US, and various countries in the MENA region.

Furthermore, IFRS highlights consistent and reliable financial reporting, compelling organisations to align their internal controls with international standards to ensure data integrity for adequate external reporting.

As previously mentioned, the UAE’s SCA has expanded ICFR requirements to all listed companies, mandating independent audits and covering operational, IT, and compliance risks. This regulation does require adherence to the COSO framework but emphasises that internal controls must align with global standards, improving transparency, risk management, and strengthening stakeholder trust.

Additionally, SOX requires audit committees, boards, and external auditors to regularly request evidence of operational control effectiveness and risk assessments. This ensures controls are properly embedded and consistently maintained, supporting the financial integrity of institutions. I expect it will not be different in the UAE.

Key pillars of a strong internal control framework

According to the COSO framework, a strong internal control framework relies on five key pillars: control environment, risk assessment, control activities, information and communication, and monitoring. Effective leadership establishes the ‘tone at the top’, creating a strong control environment, solidifying ethical standards, structure, and accountability. Conducting regular risk assessments maintains effective internal financial monitoring.

Control activities set policies and structures to mitigate identified risks. Clear communication among finance, audit, risk teams, and external stakeholders ensures transparency in the reporting process.

Lastly, ongoing monitoring of all control activities and internal assessments are crucial for enhancing operational effectiveness. These pillars create a robust control environment, promoting accurate and transparent financial monitoring.

The role of technology: Enabling real-time financial governance

Automation, data analytics, and AI-driven monitoring tools have fundamentally transformed internal control processes, enhancing accuracy in control data and reducing manual errors. As a CFO, these technological developments are indispensable. CCM systems audit transactions in real-time, rapidly identifying anomalies and ensuring the accuracy of financial records.

In comparison to periodic reviews, they use real-time monitoring and automated reconciliations to maintain financial integrity and transparency. More organisations are already implementing CCM solutions to improve operational efficiency, minimise manual errors and recovery costs, effectively manage risks, and comply with increasing regulations.

CFOs evolving responsibility: Building resilience and trust

The CFO is instrumental in promoting a culture of accountability and risk awareness throughout the organisation. They are responsible for overseeing all key systems, processes, and internal controls as well as ensuring financial integrity.

By embodying an ethical mindset and leadership role in championing these actions, they set the ‘tone at the top’, cultivating an environment that emphasises strengthening internal controls, maintaining accuracy and efficiency.

Today, internal control frameworks are more than a tick-of-the-box on regulatory compliance. Robust internal controls underpin not just compliance, but long-term value creation, ethical decision-making, and sustained stakeholder trust.

The establishment of a proper ICFR framework, as now prescribed in the UAE by SCA, is a positive step in further professionalising companies.

Based on my experience, it helps organisations ensure controls on financial reporting are implemented and function effectively, limiting the risk of reporting errors.

As a CFO, I believe ICFR is a highly effective ‘tool’ to ensure financial reporting is correct and of stakeholder quality. Although experience teaches us that it takes a couple of years to get it optimally embedded within a company.

There are various pitfalls in implementing ICFR, for example, identifying too many separate controls. Yet, I believe firmly that the mandatory implementation of ICFR for listed companies is an important step in setting the foundation for the UAE to fulfill its vision of becoming the world’s top financial hub.

The writer is the group CFO at Mashreq.

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