UAE Cabinet approves requirements to clear housing loans for Emiratis

DUBAI, 29th November, 2021 (WAM) -- Chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, the UAE Cabinet approved the requirements and conditions to clear housing loans for Emiratis, a step that aims to enhance social stability and ensure an adequate standard of living for Emiratis.

The meeting, held at EXPO 2020 Dubai, was attended by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance; H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

The Cabinet also approved the UAE National Medicine Policy seeks to promote and protect health and wellbeing. It aims at achieving equitable availability and affordability of essential medicines, ensuring the quality, safety and efficacy of all medicines.

The policy that involves all main actors in the pharmaceutical field, provides a framework within which the activities of the pharmaceutical sector can be coordinated. It encourages R&D in the sector including operational research, drug development and clinical research.

The policy also aims at increasing local production of medicine, while further improving the quality of medicine in the UAE, in addition to attracting and facilitating investments in the pharmaceutical sector.

The cabinet adopted the UAE cultural and creative industries strategy to maximize the sector participation to be among the top ten performing sectors in the national economy and to account for 5% of the GPD.

The strategy, the first of its kind in the Arab World,combines efforts of all key players of the sector, and adopts performance indicators to measure the progress achieved. The strategy aims at fulfilling the UAE aspirations to be a globally recognised centre of creative talents and a leading producer and exporter of creative and cultural content.

The three-layer strategy includes 40 initiatives that target three segments: talents, professionals and enablers business enablers.

Legislative Affairs.

The Cabinet approved the issuance of a federal law regarding rehabilitation of juvenile delinquents and vulnerable to delinquents. The law aims at reintegrating this category into the community and turns them into empowered and safe children who are aware of their rights.

The Cabinet approved the issuance of a federal law regarding rehabilitation. The law aims at accelerating the integration of convicts into society as it deals with restoration of former rights, authority, or abilities. The process of rehabilitating also involves restoring the credibility.

The Cabinet approved the amendments to the federal decree on the Common Customs Law of the Cooperation Council for the Arab States of the Gulf and its executive regulations.

The amendments seek to further develop the customs procedures and contribute to the enhancement of cooperation in the customs field among the Gulf States, as well as apply legislations and regulations for the protection of the intellectual property rights.

The Cabinet approved the issuance of the executive regulations of the Federal Law concerning Credit Information and its amendments.

The executive regulations enable Al Etihad Credit Bureau (AECB) during the process of credit data exchange and integration to enrich credit reports and increase credit awareness in the UAE.

The list of chemical precursors, which is annexed tothe law on Medical Products, Pharmacy Profession and Pharmaceutical Establishments, has been amended.

The Cabinet approved the reformation of the Emirates Fatwa Council Chaired by Sheikh Abdullah bin Bayyah. The Council is the official reference for fatwas and Islamic rulings, which oversees all work related to fatwas.