FNC Financial, Economic and Industrial Affairs Committee discusses policy of Central Bank

Sun 28-01-2018 18:18 PM

DUBAI, 28th January, 2018 (WAM) — The Federal National Council, FNC, Financial, Economic and Industrial Affairs Committee today concluded discussions on the policy of the Central Bank of the UAE, during the third ordinary session of the 16th legislative chapter at the council’s Secretariat-General in Dubai, which was chaired by Majid Hamad Al Shamsi, Chairman of the Committee.

Salem Abdullah Al Shamsi, Committee Moderator, Dr. Saeed Abdullah Al Muttawa, Ahmed Yussuf Al Nuaimi, Abdulaziz Abdullah Al Zaabi and Dr. Mohammed Abdullah Al Mehrezi attended the meeting.

Majid Al Shamsi said that the committee approved the comments on the policy of the Central Bank after amending them, and distributed it to its members before discussing related reports and recommendations during the FNC session.

He added that the committee discussed the matters based upon three issues: the laws and legislation to organise the work of the Central Bank, the role of the bank in organising the monetary, credit and banking policies of the country’s banking and financial sector to assure balanced growth of the national economy, and the bank’s policy to support Emiratisation in the banking and financial sector.

Al Shamsi stressed that the committee amended its agenda for the discussion of a federal law draft on certificates of origin, after receiving the responses of relevant authorities. It will subsequently hold a meeting with government representatives to discuss the law’s articles and listen to their suggestions, he added.

The committee has began discussing the articles of the dart law, which aim to oversee the national rules and procedures for issuing certificates of origin, as well as to determine the authorities responsible for issuing the certificates according to their type, and ways of verifying and regulating them.

WAM/Nour Salman/MOHD AAMIR

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