First Deputy Speaker of the Federal National Council, Hamad Ahmed Al-Rahoumi, presents a parliamentary proposal to the government to postpone bank installments due on citizens for a period of six months without interest, fees or additional sums, to help them overcome the economic impacts imposed by the conditions and procedures to face the emerging Corona virus (COVED- 19).
This proposal comes as part of a parliamentary question that Rahoumi addresses to the Minister of State for Financial Affairs, Obaid bin Hamid Al Tayer, during the parliament session scheduled to be held "remotely" this evening, which is devoted to discussing a federal draft law on public health.
In detail, the Federal National Council will hold today its eighth session of the first regular session of the seventeenth legislative session, headed by Speaker Saqr Ghobash, and the participation of the Minister of Health and Community Protection, Minister of State for Federal National Council Affairs Abdul Rahman Al-Owais, and Minister of State for Financial Affairs Obaid bin Humaid Al-Tayer.
Today’s session is considered the second of the Council’s “remote” meetings, in line with the precautionary measures taken by the state to confront the spread of the new Corona virus (COFED-19), as it was devoted to discussing a federal draft law on public health, which embodies the keenness to keep pace with the state’s directions, vision and plans. Especially the interest in the public health sector, which is one of the most important sectors that contribute to achieving sustainable development and community security, health and safety.
The session witnesses directing the first two “remote” Parliamentary questions: one of them from the First Vice-President of the Council, Hamad Ahmed Al-Rahoumi, to the Minister of State for Financial Affairs Obaid Bin Hamid Al-Tayer, “about confronting the economic impact of Corona virus on companies and individuals”, while the second is from the Council member, Marwan Obaid Ali Al-Muhairi, to the Minister himself, on “the role of the Union Credit Information Company in ensuring the authenticity of data, facilities and financial obligations on individuals and companies locally and internationally.”
Rahoomi's question states: "Many companies and individuals are exposed to a number of financial losses due to the economic impact of the spread of the Corona virus. What are the measures taken by the central bank with the licensed financial institutions in relation to related financial activities to mitigate these effects on companies and individuals?"
The First Deputy Chairman of the Federal National Council told «Emirates Today» that he submitted to the presidency of this Council a long time ago, especially with the beginning of the emergence of negative economic effects in individuals specifically, affected by the measures to prevent the global spread of the emerging Corona virus, which are adopted by all countries of the world, except The fact that the parliament did not convene during the past period prevented the discussion and discussion of this question with government representatives.
Rahoumi said: «When the economic effects of the Corona virus appeared in the investment sector in the country, the government was quick to offer a package of programs to support and revive banks, which in turn provided additional facilities for companies and investors to help them overcome the crisis, and in return there is a large sector of citizens affected economically by the corona’s actions, Hence, they must be included in the bank’s programs and facilities to support them. ”
He added: “With the emergence of the effects of the virus economically, we found a segment of citizens who were subject to deductions from their salaries, and others whose salaries were cut, while a third segment of citizens suffers a severe shortage in the monthly income of it, despite not affecting their salaries, which exposed them to financial bottlenecks.”
Rahoumi called for the need for banks to play their natural role towards their fixed customers who are citizens of the state, by introducing facilities programs by postponing the monthly installments and payments due to them for a period of six months without any fines, interest or additional fees.
He said: «The economic crisis experienced by individuals in society is not local, and was not the result of individual or personal actions, but rather is a global crisis, and when the government granted the banks all the financial facilities, they aimed to support the national economy with its companies, institutions and individuals.
Monthly salaries
The First Deputy of the President of the Federal National Council, Hamad Ahmed Al-Rahoumi, said that many citizens, whose monthly salaries were not affected by the current conditions, especially government employees among them, had additional monthly financial income from their own projects, whether real estate, investment, or even from additional time However, this income was affected by the current economic conditions, stressing that this category is left with nothing but salary, in exchange for the stability or increased obligations of housing installments and bank loans, which requires intervention quickly, to help them before faltering.
QNB discusses the Public Health Law "remotely" today
The Federal National Council will hold its eighth session of its first regular session of the seventeenth legislative session, "remotely" tomorrow evening, headed by Speaker of the Council Saqr Ghobash, and in the presence of government representatives, to discuss a federal draft law on public health, embodying keenness to keep pace with the state’s directions, vision, and plans , Especially in caring for the public health sector, which is one of the most important sectors that contribute to achieving sustainable development and community security, health and safety.
According to the agenda of the session, Council members ask two questions: The first of the First Vice-President of the Council, Hamad Al-Rahoumi, “On confronting the economic impact of Corona virus on companies and individuals”, and the second from Marwan Obaid Ali Al-Muhairi, on “the role of the Union Credit Bureau in ensuring the correctness Data, facilities and financial obligations on individuals and companies locally and internationally, ”addressed to the Minister of State for Financial Affairs and Chairman of the Board of Directors of the Union Credit Information Company, Obaid bin Humaid Al Tayer.
The Council is scheduled to approve the minutes of the seventh session of the first regular session of the seventeenth legislative session, held on the fifth of May.
Abu Dhabi - Emirates Today