Saudi Arabia is working on a basket of significant legislations that would enhance the business performance environment in the country. The new bankruptcy law that the government is willing to follow is considered among the basic new legislations. It is one of the major systems adopted in the world, and Saudi Arabia is stepping towards a development in the business environment through updating an integrated system of bankruptcy. The kingdom didn’t restrict to its geographic location when issuing the new bankruptcy law – the law complies with the best international practices and is based on recommendations and reviews of the World Bank and the United Nations Commission on International Trade Law (UNCITRAL). Given that Saudi Arabia is one of the prominent world countries in terms of financial and economic weight as well as one of the major G20s countries, it is in a serious quest to boost the vitality of the investment climate in the country. Further, recent reports revealed that the kingdom came second globally in terms of implementing reforms to enhance the business climate in 2018. In this context, the new bankruptcy system in Saudi Arabia balances between interest of investors and creditors. The law consists of 231 articles in 17 chapters, that would foster confidence in financial transactions in a vital manner. The law stipulates that a bankruptcy committee should be formed – a specialized committee that is supervised by the minister of commerce and investment. The committee has a secretariat that carries out its missions and tasks according to regulations and procedures followed by the minister.