Mohammed bin Rashid chairs the last cabinet meeting at Expo 2020 Dubai

A new law allows cooperatives to be listed in the financial markets

  • Mohammed bin Rashid while chairing the cabinet meeting, with Maktoum bin Mohammed at his side.

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  • Mohammed bin Rashid during his briefing on the experience of community farming.

    From the source

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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the Cabinet meeting, which was held yesterday at Expo 2020 Dubai, in the presence of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister Minister of Finance, and Lt. General H.H. Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, and H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs. A number of strategies, policies, initiatives and legislation aimed at continuing to be adopted were adopted on the agenda of the meeting. Develop government work.

Yesterday, His Highness Sheikh Mohammed bin Rashid Al Maktoum said: "Today I chaired the last meeting of the Council of Ministers at (Expo 2020 Dubai). The Council's meetings over six months at the largest cultural exhibition in the world reflected the vision of the UAE government in supporting the event, consolidating its presence locally and globally and mobilizing energies All to support his extraordinary success.”

His Highness announced: "Today we approved in the Council of Ministers a new law for cooperative societies in the country that allows them to be listed in our financial markets, allows them to attract strategic partners, and introduces new types for them, such as digital, financial, professional and other cooperatives. Cooperatives are a successful economic model that can be built upon and developed for new horizons."

His Highness said: "We also approved in the Cabinet the permission to engage in crowdfunding activity and for it to have operators from the government and private sectors. Crowdfunding is one of the best means to support the financing of new innovative business ideas, and it will open a door for young people and entrepreneurs to finance their ideas."

His Highness added: "We have also adopted the Emirates Council's strategy for gender balance, to enhance the presence of women in leadership positions, and we have also adopted a new system for work injuries in the country ... to preserve rights and protect workers from injuries and diseases of various professions."

His Highness said: "I was acquainted with the experience of community agriculture, where the Ministry of Community Development provides the requirements of green homes for people of determination and senior citizens... in support of them... and in order to provide a lifestyle linked to health, physical and social benefits through this beautiful agricultural activity."

The Council of Ministers approved federal legislation regarding work injuries and occupational diseases, specifying work injuries and occupational diseases for workers in the private sector, the mechanism for reporting and investigation of them, and the mechanism for disbursing compensation for them.

The law guarantees the rights of workers in the private sector by specifying occupational diseases and work injuries for which they are entitled to financial compensation and the amount of this compensation, which represents tangible social support for them in this regard, and contributes to raising the state’s competitiveness in global indicators related to labor rights.

The Council of Ministers approved a decision to reorganize the Khalifa Center for Biotechnology and Genetic Engineering, to be affiliated with the Ministry of Presidential Affairs and enjoy the legal personality and financial and administrative independence necessary to achieve its goals. private studies and applied research, assisting university students and research cadres in preparing studies and research, establishing companies or contributing and participating, and contributing to national efforts to revitalize science, research, and scientific and technological activities in the fields of biotechnology and genetic engineering.

In legislative affairs, the Council approved the issuance of the new cooperative law, which adopts the basic principles of cooperatives approved at the international level, reflects specific obligations on cooperative societies and their governance, allows the adoption of modern models and methods for managing and governance of cooperative societies, and grants a pivotal role to local authorities with regard to licensing and regulating some of their affairs in a manner that does not conflict With the new law, the law also granted flexible powers to cooperatives to include some requirements in their articles of association.

The law includes the creation of new sections and types of cooperatives, including digital, financial, professional, and others, and allowing the transformation of cooperative societies into commercial companies, in addition to permitting the inclusion of cooperatives in the financial markets in accordance with the standards and conditions set by the financial markets in the country, while preserving the general principles of cooperative work.

The new Cooperatives Law also allows for the adoption of a pivotal transformation worldwide in terms of attracting a strategic partner, in line with global developments, the development of financing tools through preferential shares, the permission to open branches for cooperatives in the country, and the establishment of joint cooperatives and a cooperative union between cooperative companies, in addition to supporting responsibility community co-operatives.

The Cabinet also approved the initiative to launch the community agriculture project, which targets social security beneficiaries from the category of widows, divorced women, senior citizens and people of determination, in the context of empowering them, improving their quality of life and supporting the state’s vision of self-sufficiency, by providing green houses with different areas in the homes of beneficiaries of The project and specific centers of the Ministry of Community Development.

The project supports family interaction and cooperation to take care of crops, and through cooperation with government and private agencies and civil sector institutions, to develop and support the project, which contributes to maintaining food security and sustainability of resources, optimal use of spaces, creating a coherent social environment, providing income for participating families and bringing their members to self-sufficiency. .

The associated health and physical benefits and an active lifestyle.

The Council of Ministers approved the national policy for child protection in educational institutions in the country, which guarantees the safety of children, respects their dignity and enhances their well-being, and provides a healthy and safe educational environment for each child without discrimination, giving priority to the child and his interest at all times, and includes the full commitment of the Ministry of Education and educational authorities to ensure the well-being of Children, their safety, respect for their dignity, providing a fun and safe learning environment for them, and ensuring that the child-centered approach and direction of each person who deals with the child.

The policy aims to ensure the implementation of child protection mechanisms and measures in the educational institution in accordance with the legislation in force in the country and the stipulated international agreements, and to define the roles and responsibilities of all employees in the educational institution, parents and all relevant individuals, entities, partners and service providers concerned, and to provide a safe school environment to protect the child physically psychologically, intellectually, educationally and morally, enabling him to enjoy his guaranteed rights, especially his educational rights, strengthening partnerships related to child protection, and providing care and subsequent support for cases of child abuse.

The Council of Ministers also approved the national strategy to enhance the nursing and midwifery professions, which includes providing a national framework that lays down specific measures to enhance the nursing and midwifery professions in the country, and unify the efforts of their cadres under the umbrella of a national strategy that enhances the quality of life in the work environment and addresses challenges in a way that supports the qualification of national leadership models in the two professions. It enhances the readiness of the state in the event of crises, emergencies and health disasters.

The strategy consolidates the attractiveness of the nursing and midwifery professions, in a way that supports nationalization policies, the governance of the two professions, and improves academic nursing education programs at all levels, while ensuring a review of the legislative framework related to the practice of the two professions, developing a national model for forecasting workforce needs, and adopting best practices in this field, as well as Increasing the number of health institutions that obtained international accreditation to practice the two professions in the country.

The Cabinet approved the new strategy of the Emirates Council for Gender Balance 2022-2026, which includes four main axes, the first of which is economic participation, entrepreneurship and financial inclusion, and aims to bridge the economic gender gap by working to increase women’s participation and ensuring their leadership in the economy, as well as On the financial literacy of women and strengthening their presence in the entrepreneurship sector.

The second axis of the strategy (well-being) aims to ensure that all means of supporting physical, psychological and preventive health are equal between the sexes, while the third axis (protection) aims to increase social and legal protection means and emphasize ensuring personal security for all women, and supports the fourth axis (leadership and global partnerships ) Efforts to enhance gender balance in the region and throughout the world through continuing endeavors to enhance leadership position and build partnerships.

The new strategy aims to empower women in leadership positions in many vital sectors, including the financial sector, in addition to enhancing their active presence in the private sector, which will reflect positively on the process of social and economic development in the UAE, and consolidate its position among other advanced economies and within the indicators of international competitiveness. related to.

In organizational affairs, the Council of Ministers adopted a resolution establishing a general secretariat for the Emirates Council for Balanced Development, issuing a federal law regarding the approval of a supplementary budget to the general budget of the Federation for the fiscal year 2022, and approving the establishment of a committee called the “Committee for Collective Labor Disputes” headed by the Minister of Human Resources and Emiratisation, to look into Collective labor disputes referred by the Ministry in which the number of workers is more than 100 workers, because they cannot be settled amicably between the two parties to the labor relationship.

According to the text of the decision, it is permissible, upon a request submitted to the Ministry by the concerned authorities in any of the emirates of the country, to form a special committee by a decision of the Minister of Human Resources and Emiratisation to be concerned with examining collective labor disputes in the emirate. Settling their disputes with employers, guaranteeing their rights, and speeding up their collection, which will contribute to raising the state’s competitiveness in global indicators related to the speed and effectiveness of resolving labor disputes. It also supports employers in economic terms, which will be positively reflected in the sustainability of their businesses that contribute to supporting the national economy.

On the other hand, the council reviewed a number of reports, including the report of the Emirates Council for Sharia Fatwa, the report on the work of the Board of Directors of the National Institute for Health Specialties, the report on the work of the Coordinating Council for Family Policies, the report on the work of the National Committee to Combat Human Trafficking, and the report on the work of the National Human Rights Committee, for the year 2021, in addition to the approval of a number of appointments, including the appointment of state ambassadors in a number of friendly countries, and representatives of the state in a number of international bodies and administrations.

Deputy Head of State:

"The Cabinet meetings at (Expo 2020 Dubai) reflected the vision of the UAE government in supporting the event and consolidating its presence locally and globally."

"The new law for cooperative societies allows them to attract strategic partners.. Cooperatives are a successful economic model that can be built upon and developed for new horizons."

"A permit to engage in crowdfunding activity is one of the best means to support the financing of new innovative business ideas, and it will open a door for young people and entrepreneurs to finance their ideas."

On the agenda of the council meeting:

■ Approval of the establishment of a general secretariat for the Emirates Council for Balanced Development.

■ Adoption of federal legislation supporting labor rights regarding work injuries and occupational diseases.

■ Reorganizing the Khalifa Center for Biotechnology and Genetic Engineering and transferring it to the Ministry of Presidential Affairs.

■ Adoption of the launch of the community farming project.

■ Adoption of the national policy for child protection in educational institutions in the country.

■ Adoption of the new strategy of the Emirates Council for Gender Balance 2022-2026.

■ Issuance of a federal law regarding the approval of a supplementary budget to the general budget of the Federation for the fiscal year 2022.

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international agreements

In international affairs and relations, the Council of Ministers ratified and approved a number of international agreements, which included nine agreements with a number of friendly countries, including four agreements with the Government of the Republic of Senegal and the Kingdom of the Netherlands on extradition and mutual legal assistance in criminal matters, and an agreement with the Kingdom of the Netherlands on Extradition, an agreement with the Russian Federation on the transfer of convicted persons, two agreements with the Democratic Republic of the Congo and the Republic of North Macedonia on the encouragement and mutual protection of investments, an agreement between the Government of the State and the Government of the Republic of Angola on air services between and beyond their territories.

Organize the operator activity of the crowdfunding platform

The Council of Ministers has approved a system for regulating the activity of the crowdfunding platform operator (based on ownership), so that the Securities and Commodities Authority is the supervisory authority on crowdfunding activity. This is provided that it obtains the approval of the concerned authorities in the country, and puts an obligation on the operator to verify that the applicant has a specific, clear and written work plan, the validity of its documents and procedures, and that the project is not offered on any other platform, as well as verifying the contents of the disclosure and making it available to investors.

The system supports the financing of commercial projects, especially small and medium ones, as well as the private sector, which will have the opportunity to engage in the activity of operating the crowdfunding platform, or to finance its projects through it. Innovative.

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