In his capacity as Ruler\nof Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh\nMohammed bin Rashid Al Maktoum issued Law No. (10) of 2019, which partially\namends Law No. (24) of 2009 on the establishment of the Dubai Financial Support\nFund.<\/p>\n\n\n\n
Pursuant to the new Law,\nDirector General of the Dubai Department of Finance is authorised to supervise\nall administrative, technical and financial affairs of the Fund and issue any\ndecisions or procedures he deems necessary to achieve its objectives. The\nDirector General is also responsible for approving general policies, programmes\nand projects of the Fund and its subsidiaries, and submitting them to the Dubai\nSupreme Fiscal Committee for approval. He may also apply for and obtain loans\nto achieve the objectives of the Fund and its subsidiaries, set up new\nestablishments and businesses and buy and sell assets on behalf of the Fund and\nits subsidiaries.<\/p>\n\n\n\n
The new Law authorises the\nDirector General of the Dubai Department of Finance to form the committees and\nteams of the Fund, and outline their tasks and functions. He is also\nresponsible for approving the Fund\u2019s organisational structure and budget and\nsubmitting them to The Executive Council of Dubai for final approval.<\/p>\n\n\n\n
According to the Law, the Chairman\nof The Executive Council will appoint the Fund\u2019s CEO based on recommendations\nfrom the Director General of the Dubai Department of Finance. <\/p>\n\n\n\n
This new Law annuls any\nother legislations that contradict or challenge its articles. It is considered\nvalid from its date of issuance and will be published in the Official Gazette.<\/p>\n","protected":false},"excerpt":{"rendered":"
In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum issued Law No. (10) of 2019, which partially amends Law No. (24) of 2009 on the establishment of the Dubai Financial Support Fund. Pursuant to the new Law, Director General of the …<\/p>\n","protected":false},"author":2,"featured_media":14580,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14579","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news"],"_links":{"self":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/14579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=14579"}],"version-history":[{"count":1,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/14579\/revisions"}],"predecessor-version":[{"id":14581,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/14579\/revisions\/14581"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/14580"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=14579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=14579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=14579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}