I withdrew it from Al-Watani to introduce amendments to its articles

The government assigns "the economy" to update the "cooperatives law" within two months

The government assured the Council of the Ministry of Economy’s desire to introduce materials in line with the current situation.

From the source

The Federal National Council sent a letter to the Council of Ministers, confirming the members ’approval to withdraw a draft federal law in the matter of cooperatives, and return it to the Council of Ministers to reconsider its articles, based on a request received from the government, and attributed its reasons to the desire of the Ministry of Economy to introduce and develop some articles including In line with the current situation, stressing that it mandated the Ministry to re-examine the draft law, and to submit its proposals in this regard to the Council of Ministers within two months.

The Council received an official letter from the Minister of Health and Community Protection, Minister of State for Federal National Council Affairs, Abdul Rahman Al-Owais, which carried a governmental request to withdraw the draft law and return it to the Council of Ministers to take the necessary actions regarding updating and developing a number of materials contained therein, in preparation for submitting it again to the National Council to take Its legislative path for approval.

The letter included an attachment that read: “Based on a memorandum received by the Council of Ministers from the Ministry of Economy on November 15, 2020, the Council decided, during its session held on November 29, 2020, to withdraw the draft Federal Law on Cooperatives from the Federal National Council, with the mandate of the General Secretariat The Council of Ministers may take the necessary measures to withdraw the bill.

He also decided to instruct the Ministry of Economy to re-examine the draft law in accordance with the initiatives contained in its memorandum regarding the request to withdraw it, and to submit the finalized proposals to the Council of Ministers within two months of its date.

For their part, members of the Council’s Financial, Economic and Industrial Affairs Committee (which took over the discussion of the bill) expressed their welcome to return the bill to the government for updating it, but they emphasized that it would have been better for representatives or officials of the Ministry of Economy to meet with the members of the committee or write to them early on the direction to request a draft withdrawal The law, and the presentation of justifications on the basis of which the decision was taken, which is in the interest of developing the law (according to what they say), especially since the committee had finished discussing all of its articles and approved its final report on it after meetings that exceeded 80 hours.

According to the final report approved by the committee and submitted to the council before the draft law was withdrawn, the committee finished last March studying the draft law, which consists of 98 articles, and worked on studying its details before adopting the final report on it, after it introduced a package of amendments to its articles, including the most prominent Increasing administrative fines, starting from 100,000 dirhams to five million dirhams, and raising the minimum for most financial penalties imposed on violators from 100 thousand to one million dirhams, so that they include all concerned, whether associations, board members, or others.

The report stated that the draft law enables cooperatives to open branches for them in any of the emirates of the state outside their founding emirate, which means the expansion of cooperative societies in the emirates of the state, increasing their competitiveness, and contributing to lower prices, and maximizing their ability to contribute to the strategic reserve of the state, and consolidate The concepts of working to provide a business environment and a national partnership to enhance the competitiveness of the national economy, as well as to achieve equality between cooperative societies and other commercial centers, which thanks to their freedom to expand in the emirates of the state, were able to increase their sales and profits.

The report emphasized the importance of the draft law in organizing and developing cooperatives, raising the social and economic level of their members, and cooperatives to play their role effectively in the sectors of economic and social development in the country, contribute to managing strategic stocks, and consolidate the concept of social responsibility.

• The draft law enables cooperatives to open branches outside the emirate of their establishment.

• 80 hours were spent by the Financial, Economic and Industrial Affairs Committee studying the bill before it was withdrawn.

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