His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, affirmed his pride in the UAE community, in its various categories of citizens and residents, who were able to go hand in hand with the government in all its aspects, be supportive of its efforts and procedures, and contribute With different roles towards achieving one goal, which is to be the best recovered UAE after the end of the emerging Coronavirus crisis.
Mohammed bin Rashid: Our government is flexible and proactive, and there is no place for old methods in our system
His Highness also stressed that the UAE government has proven with the return of business and economic activities in various sectors that it is a future government, which, thanks to its children and cadres, can keep pace with all developments, and is able, thanks to its systems and infrastructure, to adapt to various challenges.
This came during his presidency yesterday morning, the cabinet meeting, which was held with the technology of “remote communication”, where His Highness stressed at the beginning of the meeting that every individual in the Emirates without exception has today a role supporting the national efforts, and work teams in various sectors.
His Highness said:
His Highness chaired a cabinet meeting during which they decided to
- At the federal level, Develop the governance of boards of directors.
- Establishing transparency.
- Strengthening control and regulatory mechanisms.
- Finally, avoiding conflicts of interests of members of the board of directors with the company’s activity or the multiplicity of their membership in other companies.
مع استمرار عودة الحياة لقطاعاتنا الحيوية..ترأست اليوم اجتماعاً لمجلس الوزراء أقررنا خلاله تطوير حوكمة مجالس الإدارة على المستوى الاتحادي ..ترسيخاً للشفافية ..ودرءاً لتعارض مصالح أعضاء مجلس الإدارة مع نشاط الشركة أو تعدد عضويتهم في شركات أخرى .. وتعزيزاً لآليات الرقابة والتنظيم pic.twitter.com/gEVuvwEtmx
— HH Sheikh Mohammed (@HHShkMohd) June 14, 2020
His Highness said expressed that:
- “Aspirations are great and concerns are high”
- The government is flexible and proactive.
- The talents and work teams are responsible.
His Highness also said: “The Emirates government team is at the forefront of the classes close to the citizen and the resident, it improves its services and renews its decisions. The goal is to build a future worthy of our future generations, God willing.”
Sheikh Mohammed bin Rashid Initiatives
During the meeting, His Highness approved a number of initiatives and programs that target various groups in society, and support many sectors.
His Highness said that:
They adopted a system of corporate governance in the federal government, to
- Develop work in our governmental institutions.
- Ensure their performance of business regularly and transparently.
The establishment of the Union Company For digital payments, with the aim of:
- Developing a national system of digital payments.
- Building innovative and effective business models.
كما أقررنا اليوم إنشاء "شركة الاتحاد للمدفوعات الرقمية" .. مؤسسة وطنية هدفها تقديم خدمات الدفع الرقمية لكافة قطاعاتنا في الدولة بشكل آمن .. وسريع .. ومضمون .. اقتصادنا الرقمي الوطني في تطور .. ومؤسساتنا تواكب .. pic.twitter.com/JnVtX84K8O
— HH Sheikh Mohammed (@HHShkMohd) June 14, 2020
Proactive decisions
His Highness was briefed during the meeting on the developments of government measures and decisions that were taken to limit the spread of the new Coronavirus, and the results of these decisions on various sectors.
His Excellency Obaid Humaid Al Tayer, Minister of State for Financial Affairs, indicated that the UAE government has taken a package of Proactive and effective procedures and decisions, where the exchange of government dues for suppliers and companies has been accelerated, so that the average time period for paying bills is only 5 days, in addition to reducing the registration fees for suppliers, exempting them from renewal fees, in support of the suppliers and companies and facilitating them, and reducing any negative consequences for them.
Al Tayer stressed that these measures have strengthened confidence in the financial stability and sustainability in the UAE, as it has demonstrated the commitment of the UAE government to harness all available resources to confront and mitigate the negative effects resulting from the pandemic of the emerging Corona epidemic, in order to protect the national economy and enable business sectors.
He explained that work is continuing with all government agencies to review priorities for the post (COVID-19) stage and discuss ways to introduce new and effective economic stimulus packages, which would reduce the burden and fees on companies and individuals to protect economic gains, and accelerate the economic recovery process, in order to ensure continued growth And sustainable economic development.
Transparency
In the context of the agenda of the meeting, the cabinet approved during its session a set of decisions and initiatives to advance the system of government work and to ensure business continuity and sustainability in various sectors, where the Council adopted the system of governance of boards of directors in the federal government, which aims to organize the work of boards of directors in federal institutions and its government, Establishing a system and a mechanism for its work, and setting frameworks, rules, and provisions that control its work in a manner that ensures its proper performance of work regularly and transparently, and achieving its goals.
The development of the system came in line with recognized international best practices, and at the same time is in line with the general orientation of the state, as the system includes a mechanism for the formation of the board of directors and a mechanism for holding meetings, defining a mechanism for selecting members of the board of directors, determining the responsibilities and powers of members of the council, and defining the roles of the secretary and specifying the main committees of the Board of Directors, setting standards for the participation of a member of the Board of Directors in the membership of other federal boards of directors, setting rules of professional conduct, avoiding conflicts of interest, setting systems for the external auditor, and organizing the process of evaluating the performance of the Council, in addition to other provisions related to work Board of Directors.
Digital payment
The council also approved, during its session, the establishment of the «Union for Digital Payments», with the aim of developing and managing a national system of digital payments, in a manner that supports achieving balance and commercial competitiveness among all digital payment services providers in the country, and alleviating the financial burdens on the public, business sectors and government expenses, in addition to enhancing the effectiveness Business and innovation models.
The Union for Digital Payments will contribute to the integration of applications to provide and implement federal and local government services to the public and the business sector with a unified methodology and easy procedures, including the adoption and application of personal and commercial customer identification methodologies, applications for the use of tools, digital channels, smartphones and safe operation in full continuity, in addition to maintaining confidentiality Data and customer identities, continuous flow of data and information for purchases and digital payment of goods, products, and services, without relying on multiple non-national systems and platforms.
