Monday, February 25, 2013
Monday, February 4, 2013
UAE Cabinet approves system to make 6,619 medicines cheaper
Dubai: More than 6,000 medications will be cheaper by up to 40 per cent, making health care more affordable for patients in the UAE.
The UAE Cabinet on Sunday approved a new system which will reduce the prices of 6,619 medicines.
The system will unify the prices of medicines with those of GCC countries, providing alternatives for every kind of medication for chronic and other diseases. It will also include mechanisms for regulating and following up on the prices of medicine.
The system was approved during a cabinet meeting held on Sunday at the Presidential Palace chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Lieutenant General Shaikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, were present.
“The government’s regulation of the medicine sector represents a national benefit that cannot be neglected,” said Shaikh Mohammad.
He said that the medicine and food sectors are very important and cannot be overlooked, and that providing medicine at a reasonable price for all consumers will contribute to bolstering the medical sector and all concerned bodies operating in it.
Series of studies
The system was approved following a series of studies and meetings held between parties operating in the sector. The aim was to create an integrated system for unifying the prices of medicine imported into the private medical sector by altering the profit margin between pharmacy and agents.
The Cabinet gave the UAE Ministry of Health (MOH) three months to implement the new prices. The MOH has been negotiating with pharmaceutical drug manufacturing groups for several years. Its lobbying for reduced pricing resulted in the price reduction in January 2012 of 115 generic drugs from 5 per cent to up to 30 per cent.
Speaking to Gulf News, Dr Ameen Hussain Al Amiri, Assistant Undersecretary for Medical Practices and Licensing, said that reduced price will benefit patients. “We have been discussing the issue of pricing for several years. This is this first time that a pricing system is unified at a regional level. The new procedures will affect all private pharmacies. I will head the team that will be tasked with implementing the new system.”
He said key details on the new system will be announced shortly.
Gulf News spoke to representatives from the pharmacology and pharmaceutical industry.
Zeydan Abuissa, Country Manager at Pfizer Gulf and Levant region, said, “It is yet another milestone achieved by the UAE government and the Ministry of Health. Pfizer is constantly at full readiness to cooperate with the Ministry of Health to ensure fast and wider patients access to the innovative medicines they need.”
D. Azad Moopen, founder and fhairman of DM Healthcare, said, “We welcome the decision. For patients, this is very good news. … We also hope that the new system will take into account the entire chain from manufacturer, wholesaler, retailer and patient.”
New system
The new system will ensure that 6,619 types of medicines get cheaper.
It unifies and discounts the prices of medication that are bought in US dollars and imported into the private sector. The discounts will vary from 1 per cent to as much as 40 per cent.
The system alters the profit margin between pharmacies and agents. It works on curbing the phenomenon of rising prices of medicine resulting from foreign currency fluctuations.
It also has provisions to encourage investments in the UAE’s pharmacology sector.
The system also aims to unify the prices of medicine with those in other Gulf Cooperation Council countries, and providing alternative medicines for chronic and other diseases.
The system was approved following a series of studies and meetings.
The Cabinet instructed the Ministry of Health to immediately begin issuing the new prices for the medicines included in the system. The ministry was given three months to ensure that the new prices are implemented in the local market.
The new system includes mechanisms for regulating and following up on the prices of medicine. Once the three-month period lapses, inspectors from the Ministry of Health and other health authorities will visit private pharmacies to ensure the new prices have been complied with.
Other Cabinet decisions
In other decisions, the Cabinet approved the 2013 draft budget of Emirates Transport. Emirates Transport is expected to generate revenue of Dh1.4 billion, an increase of 8 per cent compared to 2012. Expenditures are pegged at Dh1.3 billion, an increase of 7 per cent from last year. Gross profits are projected at Dh110 million, a 13 per cent increase from 2012.
The budget includes a capital outlay of Dh464.9 million, of which Dh140 million will be allocated for school transportation. The rest will be allocated for transportation contracts provided for ministries and governmental bodies, and setting up and renovating customer service centres and service centres for technical testing of buses.
The Cabinet also approved the 2011 closing statement of the National Bureau of Statistics. The bureau’s expenditures for 2011 was Dh35.9 billion, while revenues reached Dh42.5 billion.
The Cabinet also ratified the signing of a double taxation avoidance agreement with Hungary.
The UAE Cabinet on Sunday approved a new system which will reduce the prices of 6,619 medicines.
The system will unify the prices of medicines with those of GCC countries, providing alternatives for every kind of medication for chronic and other diseases. It will also include mechanisms for regulating and following up on the prices of medicine.
The system was approved during a cabinet meeting held on Sunday at the Presidential Palace chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Lieutenant General Shaikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, were present.
“The government’s regulation of the medicine sector represents a national benefit that cannot be neglected,” said Shaikh Mohammad.
He said that the medicine and food sectors are very important and cannot be overlooked, and that providing medicine at a reasonable price for all consumers will contribute to bolstering the medical sector and all concerned bodies operating in it.
Series of studies
The system was approved following a series of studies and meetings held between parties operating in the sector. The aim was to create an integrated system for unifying the prices of medicine imported into the private medical sector by altering the profit margin between pharmacy and agents.
The Cabinet gave the UAE Ministry of Health (MOH) three months to implement the new prices. The MOH has been negotiating with pharmaceutical drug manufacturing groups for several years. Its lobbying for reduced pricing resulted in the price reduction in January 2012 of 115 generic drugs from 5 per cent to up to 30 per cent.
Speaking to Gulf News, Dr Ameen Hussain Al Amiri, Assistant Undersecretary for Medical Practices and Licensing, said that reduced price will benefit patients. “We have been discussing the issue of pricing for several years. This is this first time that a pricing system is unified at a regional level. The new procedures will affect all private pharmacies. I will head the team that will be tasked with implementing the new system.”
He said key details on the new system will be announced shortly.
Gulf News spoke to representatives from the pharmacology and pharmaceutical industry.
Zeydan Abuissa, Country Manager at Pfizer Gulf and Levant region, said, “It is yet another milestone achieved by the UAE government and the Ministry of Health. Pfizer is constantly at full readiness to cooperate with the Ministry of Health to ensure fast and wider patients access to the innovative medicines they need.”
D. Azad Moopen, founder and fhairman of DM Healthcare, said, “We welcome the decision. For patients, this is very good news. … We also hope that the new system will take into account the entire chain from manufacturer, wholesaler, retailer and patient.”
New system
The new system will ensure that 6,619 types of medicines get cheaper.
It unifies and discounts the prices of medication that are bought in US dollars and imported into the private sector. The discounts will vary from 1 per cent to as much as 40 per cent.
The system alters the profit margin between pharmacies and agents. It works on curbing the phenomenon of rising prices of medicine resulting from foreign currency fluctuations.
It also has provisions to encourage investments in the UAE’s pharmacology sector.
The system also aims to unify the prices of medicine with those in other Gulf Cooperation Council countries, and providing alternative medicines for chronic and other diseases.
The system was approved following a series of studies and meetings.
The Cabinet instructed the Ministry of Health to immediately begin issuing the new prices for the medicines included in the system. The ministry was given three months to ensure that the new prices are implemented in the local market.
The new system includes mechanisms for regulating and following up on the prices of medicine. Once the three-month period lapses, inspectors from the Ministry of Health and other health authorities will visit private pharmacies to ensure the new prices have been complied with.
Other Cabinet decisions
In other decisions, the Cabinet approved the 2013 draft budget of Emirates Transport. Emirates Transport is expected to generate revenue of Dh1.4 billion, an increase of 8 per cent compared to 2012. Expenditures are pegged at Dh1.3 billion, an increase of 7 per cent from last year. Gross profits are projected at Dh110 million, a 13 per cent increase from 2012.
The budget includes a capital outlay of Dh464.9 million, of which Dh140 million will be allocated for school transportation. The rest will be allocated for transportation contracts provided for ministries and governmental bodies, and setting up and renovating customer service centres and service centres for technical testing of buses.
The Cabinet also approved the 2011 closing statement of the National Bureau of Statistics. The bureau’s expenditures for 2011 was Dh35.9 billion, while revenues reached Dh42.5 billion.
The Cabinet also ratified the signing of a double taxation avoidance agreement with Hungary.
UAE to continue hosting Summit on Global Agenda Councils
Dubai: The UAE will host the Summit on Global Agenda Councils until 2018 in both Abu Dhabi and Dubai under a strategic agreement with the World Economic Forum (WEF) during Davos Annual Meeting 2013 in Switzerland, signed by the UAE Minister of Cabinet Affairs, Mohammad Abdullah Al Gergawi, and the Founder and Executive Chairman of the World Economic Forum, Professor Klaus Schwab.
Al Gergawi said the term of the agreement with the WEF has been extended for the next five years in line with the directives of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister and Ruler of Dubai, to enhance the UAE’s position as a key player in encouraging intellectual dialogue, and proposing recommendations to resolve pressing global issues.
“The strategic role played by the UAE in discussions on global challenges and efforts to find ideal solutions to critical issues emphasise the esteemed international position the country has attained under the wise leadership. The agreement to host this prestigious event until 2018 reflects the success of the UAE in organizing such an important event which brings together several experts in a number of fields from across the world,” he added.
“The Network of Global Agenda Councils has flourished over the past five years since its association with the United Arab Emirates began. The UAE not only provides a supportive physical environment for Council members during their Annual Summit, it has provided the momentum for the Network to help drive crucial Council ideas and initiatives forward. This has helped the Summit on the Global Agenda to truly become the world’s foremost meeting of thought leaders and I look forward working with our partners to continue this trajectory by finding new and innovative ways of helping address the world’s toughest challenges,” Professor Klaus Schwab, said.
The Summit on the Global Agenda Councils, being hosted by the UAE every year, has been expanding the scope of participation to include all segments of society. According to the agreement, the Regional Organisations Forum to discuss the common challenges, will be held on the sidelines of the Summit.
The agreement will ensure greater participation for Emirati experts by raising the formal representation of the UAE in the meetings of the Davos Summit organized annually by WEF. It will also aim to increase the number of the candidates from the UAE government participating in the meeting of the Summit on Global Agenda, held in the country. The Summit includes 85 sessions covering various topics held in the presence of over 1,000 experts and decision makers from around the world.
Chairman of the Department of Economic Development-Abu Dhabi, Nasser Ahmad Al Suwaidi, said that Abu Dhabi Government believed in the importance of successful partnerships locally to enhance the position of the country internationally in terms of hosting global events. He asserted the readiness of Abu Dhabi to host the Summit, indicating the events of the sixth round of the Summit will be held in Abu Dhabi during 18-20 November 2013.
“The continued hosting of the Summit on the Global Agenda Councils in the UAE reflects the esteemed position of the country as a global hub for economic events and important conferences, which contributes to enhancing the capabilities of the country, in general, and Dubai, in particular, to host the EXPO 2020. The participation of the UAE in the Summit strengthens the efforts to build the national cadres and competencies, as well as improves the position of the country globally,” the Director General of Dubai Economic Department, Sami Daen Al Qamzi, said.
The Summit on the Global Agenda Council brings together world class thinkers and thought leaders to meet, capture the best knowledge and challenge prevailing assumptions on topics such as financing and capitalism, climate change, food and water security, protection of intellectual property, organized crime, and other socio-economic, environmental and educational issues.
The Summit will also present excellent opportunities for leading UAE innovators and thinkers to engage with their global peers from over the world. The UAE has been hosting the Summit since 2008 in association with the WEF.
Al Gergawi said the term of the agreement with the WEF has been extended for the next five years in line with the directives of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister and Ruler of Dubai, to enhance the UAE’s position as a key player in encouraging intellectual dialogue, and proposing recommendations to resolve pressing global issues.
“The strategic role played by the UAE in discussions on global challenges and efforts to find ideal solutions to critical issues emphasise the esteemed international position the country has attained under the wise leadership. The agreement to host this prestigious event until 2018 reflects the success of the UAE in organizing such an important event which brings together several experts in a number of fields from across the world,” he added.
“The Network of Global Agenda Councils has flourished over the past five years since its association with the United Arab Emirates began. The UAE not only provides a supportive physical environment for Council members during their Annual Summit, it has provided the momentum for the Network to help drive crucial Council ideas and initiatives forward. This has helped the Summit on the Global Agenda to truly become the world’s foremost meeting of thought leaders and I look forward working with our partners to continue this trajectory by finding new and innovative ways of helping address the world’s toughest challenges,” Professor Klaus Schwab, said.
The Summit on the Global Agenda Councils, being hosted by the UAE every year, has been expanding the scope of participation to include all segments of society. According to the agreement, the Regional Organisations Forum to discuss the common challenges, will be held on the sidelines of the Summit.
The agreement will ensure greater participation for Emirati experts by raising the formal representation of the UAE in the meetings of the Davos Summit organized annually by WEF. It will also aim to increase the number of the candidates from the UAE government participating in the meeting of the Summit on Global Agenda, held in the country. The Summit includes 85 sessions covering various topics held in the presence of over 1,000 experts and decision makers from around the world.
Chairman of the Department of Economic Development-Abu Dhabi, Nasser Ahmad Al Suwaidi, said that Abu Dhabi Government believed in the importance of successful partnerships locally to enhance the position of the country internationally in terms of hosting global events. He asserted the readiness of Abu Dhabi to host the Summit, indicating the events of the sixth round of the Summit will be held in Abu Dhabi during 18-20 November 2013.
“The continued hosting of the Summit on the Global Agenda Councils in the UAE reflects the esteemed position of the country as a global hub for economic events and important conferences, which contributes to enhancing the capabilities of the country, in general, and Dubai, in particular, to host the EXPO 2020. The participation of the UAE in the Summit strengthens the efforts to build the national cadres and competencies, as well as improves the position of the country globally,” the Director General of Dubai Economic Department, Sami Daen Al Qamzi, said.
The Summit on the Global Agenda Council brings together world class thinkers and thought leaders to meet, capture the best knowledge and challenge prevailing assumptions on topics such as financing and capitalism, climate change, food and water security, protection of intellectual property, organized crime, and other socio-economic, environmental and educational issues.
The Summit will also present excellent opportunities for leading UAE innovators and thinkers to engage with their global peers from over the world. The UAE has been hosting the Summit since 2008 in association with the WEF.
The Government Summit Joins Hands With Local And Global Entities For Region’s Largest Gathering Of Governments
Gergawi: The Government Summit underlines the vision of the UAE Federal government about the future of government services and serves as a strong platform to further enhance government services
His Excellency Mohammed Al Gergawi, UAE Minister of Cabinet Affairs and Head of the Organizing Committee of The Government Summit, to be held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on February 11 and 12, 2013 under the theme ‘Leading Governments Services,’ said that hosting the Summit in the UAE is in line with the UAE’ leadership’s vision to further enhance Government services continuously to meet the aspirations of citizens.
His Excellency Al Gergawi said that The Government Summit, billed as the largest government gathering in the region and the Arab world, serves as a new platform to develop government work and services and enable the government sector to achieve excellence, which is crucial to achieve Vision 2021.
His Excellency Al Gergawi explained that the Summit, which will host 2,000 delegates representing UAE, the Arab region and other parts of the world as well as several national, regional and international government leaders and experts, aims to achieve the objectives of improving government services, strengthening cooperation and coordination between the federal and local government, exchanging knowledge, building skills and capacity of UAE nationals and learning about best global and local practices.
He said that the Summit has formed strategic partnerships with national and international organisations to enrich dialogue about best practices in providing government services and will contribute to strengthening mutual cooperation through exchange of experiences, with several global entities taking part in the event.
His Excellency Al Gergawi explained that the Government Summit has formed strategic partnerships with renowned organisations including the Dubai School of Government, and international entities such as the Organization for Economic Co-operation and Development (OECD), Division for Public Administration & Development Management (DPADM) United Nations Department of Economic and Social Affairs (UNDESA) and specialized international institutions such as Getúlio Vargas Foundation, and Lee Kuan Yew School of Public Policy in Singapore and others.
To further drive these partnerships, the Summit will launch several international reports published in Arabic for the first time to be distributed in the UAE and the Arab world to expand and disseminate knowledge to benefit decision makers, researchers and government experts.
The Summit will also host several workshops and constructive discussions to enhance the quality of government services and provide a model for governmental concepts and practices in the region.
His Excellency Tariq Hilal Lootah, CEO of the Dubai School of Government said the partnership between The Government Summit and Dubai School of Government, underlines the concerted efforts to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, in sharing knowledge and experience to achieve sustainable development.
“Our partnership is led by the importance of the topics discussed and the need to support national projects by providing research on policy and public administration and widening areas of dialogue and debates with leaders and experts and specialists from around the world. This is in line with our commitment to promote knowledge sharing and improving public sector performance and public administration by developing the abilities of decision-makers and enabling them to adopt effective public policies.”
Ms. Haiyan Qian, Director, Division for Public Administration and Development Management, United Nations Department of Economic and Social Affairs, added: “The UAE Government Summit is a timely event as it will promote knowledge sharing and transfer of innovative practices in public governance and help build a common understanding of how UN Member States can enhance government performance and delivery of services. The partnership between the United Nations Department of Economic and Social Affairs (UNDESA) and UAE’s Government of Dubai is particularly significant since it will offer an opportunity to disseminate across the GCC and MENA countries information about the winners of the United Nations Public Service Awards, which is the most prestigious international recognition of excellence in public service. This event is also in line with the Division for Public Administration and Development Management, UNDESA's mandate to promote knowledge exchange in public administration among the UN Member States, particularly through its United Nations Public Administration Network (UNPAN), which is a unique online network with over 3,000 members from all regions of the world.”
She added: “As custodian of the United Nations programme on public administration, I would like to highlight that Governments across the globe need to transform their leadership capacities and human resources, as well as their governance systems, institutions, and processes so as to meet the complex and multi-faceted crises of our times and promote development for all. This transformation cannot occur without thinking "out of the box", which requires searching for innovative and forward-looking solutions and leveraging the power of ICT for development. Thus, The Government Summit will be extremely important especially for the Arab region where rapidly changing circumstances and challenges require more than ever an innovative public governance.”
Rolf Alter Director, Public Governance and Territorial Development, OECD, added: “The Government Summit organized by the UAE government is a great opportunity to learn about best practices in providing government services to achieve better life standards for communities, and we are pleased to work hand in hand with the UAE Government for the success of this event.”
Bianor Cavalcanti Regional Director of Fundação Getulio Vargas-FGV said: “We believe that being among the most influential think tanks in the world stems from our commitment and excellence in fulfilling its mission of generating and conveying ideas, data, research and analysis, thus contributing to socioeconomic development, responsible governance and ethics. This mission goes hand in hand with the objectives or our strategic partners.
“The Government Summit 2013, organized in partnership with the United Arab Emirates in Dubai, is a unique opportunity for sharing experience with governments, universities and multilateral organizations. Brazilians will embrace this splendid chance to exchanging ideas and practices. This Summit will certainly help its participants to improve their capacity do design and implement more effective delivery systems.”
Professor Kishore Mahbubani Dean and Professor in the Practice of Public Policy of the Lee Kuan Yew School of Public Policy at the National University of Singapore added: “The Government Summit comes at the right time, where governments in the East and the West seek to search for more appropriate formulas for government action and service development, after the world has witnessed many fluctuations and change, the summit comes to gather thought leaders, scientists, thinkers and policy makers to discuss the best ways in government work. We are proud to be a strategic partner to this important event, and we are confident that the summit will be able to achieve the goals for which it was held, and will support the United Arab Emirates towards achieving Vision 2021. "
His Excellency Mohammed Al Gergawi, UAE Minister of Cabinet Affairs and Head of the Organizing Committee of The Government Summit, to be held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on February 11 and 12, 2013 under the theme ‘Leading Governments Services,’ said that hosting the Summit in the UAE is in line with the UAE’ leadership’s vision to further enhance Government services continuously to meet the aspirations of citizens.
His Excellency Al Gergawi said that The Government Summit, billed as the largest government gathering in the region and the Arab world, serves as a new platform to develop government work and services and enable the government sector to achieve excellence, which is crucial to achieve Vision 2021.
His Excellency Al Gergawi explained that the Summit, which will host 2,000 delegates representing UAE, the Arab region and other parts of the world as well as several national, regional and international government leaders and experts, aims to achieve the objectives of improving government services, strengthening cooperation and coordination between the federal and local government, exchanging knowledge, building skills and capacity of UAE nationals and learning about best global and local practices.
He said that the Summit has formed strategic partnerships with national and international organisations to enrich dialogue about best practices in providing government services and will contribute to strengthening mutual cooperation through exchange of experiences, with several global entities taking part in the event.
His Excellency Al Gergawi explained that the Government Summit has formed strategic partnerships with renowned organisations including the Dubai School of Government, and international entities such as the Organization for Economic Co-operation and Development (OECD), Division for Public Administration & Development Management (DPADM) United Nations Department of Economic and Social Affairs (UNDESA) and specialized international institutions such as Getúlio Vargas Foundation, and Lee Kuan Yew School of Public Policy in Singapore and others.
To further drive these partnerships, the Summit will launch several international reports published in Arabic for the first time to be distributed in the UAE and the Arab world to expand and disseminate knowledge to benefit decision makers, researchers and government experts.
The Summit will also host several workshops and constructive discussions to enhance the quality of government services and provide a model for governmental concepts and practices in the region.
His Excellency Tariq Hilal Lootah, CEO of the Dubai School of Government said the partnership between The Government Summit and Dubai School of Government, underlines the concerted efforts to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, in sharing knowledge and experience to achieve sustainable development.
“Our partnership is led by the importance of the topics discussed and the need to support national projects by providing research on policy and public administration and widening areas of dialogue and debates with leaders and experts and specialists from around the world. This is in line with our commitment to promote knowledge sharing and improving public sector performance and public administration by developing the abilities of decision-makers and enabling them to adopt effective public policies.”
Ms. Haiyan Qian, Director, Division for Public Administration and Development Management, United Nations Department of Economic and Social Affairs, added: “The UAE Government Summit is a timely event as it will promote knowledge sharing and transfer of innovative practices in public governance and help build a common understanding of how UN Member States can enhance government performance and delivery of services. The partnership between the United Nations Department of Economic and Social Affairs (UNDESA) and UAE’s Government of Dubai is particularly significant since it will offer an opportunity to disseminate across the GCC and MENA countries information about the winners of the United Nations Public Service Awards, which is the most prestigious international recognition of excellence in public service. This event is also in line with the Division for Public Administration and Development Management, UNDESA's mandate to promote knowledge exchange in public administration among the UN Member States, particularly through its United Nations Public Administration Network (UNPAN), which is a unique online network with over 3,000 members from all regions of the world.”
She added: “As custodian of the United Nations programme on public administration, I would like to highlight that Governments across the globe need to transform their leadership capacities and human resources, as well as their governance systems, institutions, and processes so as to meet the complex and multi-faceted crises of our times and promote development for all. This transformation cannot occur without thinking "out of the box", which requires searching for innovative and forward-looking solutions and leveraging the power of ICT for development. Thus, The Government Summit will be extremely important especially for the Arab region where rapidly changing circumstances and challenges require more than ever an innovative public governance.”
Rolf Alter Director, Public Governance and Territorial Development, OECD, added: “The Government Summit organized by the UAE government is a great opportunity to learn about best practices in providing government services to achieve better life standards for communities, and we are pleased to work hand in hand with the UAE Government for the success of this event.”
Bianor Cavalcanti Regional Director of Fundação Getulio Vargas-FGV said: “We believe that being among the most influential think tanks in the world stems from our commitment and excellence in fulfilling its mission of generating and conveying ideas, data, research and analysis, thus contributing to socioeconomic development, responsible governance and ethics. This mission goes hand in hand with the objectives or our strategic partners.
“The Government Summit 2013, organized in partnership with the United Arab Emirates in Dubai, is a unique opportunity for sharing experience with governments, universities and multilateral organizations. Brazilians will embrace this splendid chance to exchanging ideas and practices. This Summit will certainly help its participants to improve their capacity do design and implement more effective delivery systems.”
Professor Kishore Mahbubani Dean and Professor in the Practice of Public Policy of the Lee Kuan Yew School of Public Policy at the National University of Singapore added: “The Government Summit comes at the right time, where governments in the East and the West seek to search for more appropriate formulas for government action and service development, after the world has witnessed many fluctuations and change, the summit comes to gather thought leaders, scientists, thinkers and policy makers to discuss the best ways in government work. We are proud to be a strategic partner to this important event, and we are confident that the summit will be able to achieve the goals for which it was held, and will support the United Arab Emirates towards achieving Vision 2021. "
UAE signs agreement with World Economic Forum
The United Arab Emirates will host the Summit on Global Agenda Councils until 2018 in both Abu Dhabi and Dubai under a strategic agreement with the World Economic Forum (WEF) during Davos Annual Meeting 2013 in Switzerland , signed by the UAE Minister of Cabinet Affairs, Mohammad Abdullah Al Gergawi, and the Founder and Executive Chairman of the World Economic Forum, Professor Klaus Schwab.
Al Gergawi said the term of the agreement with the WEF has been extended for the next five years in line with the directives of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to enhance the UAE’s position as a key player in encouraging intellectual dialogue, and proposing recommendations to resolve pressing global issues.
“The strategic role played by the UAE in discussions on global challenges and efforts to find ideal solutions to critical issues emphasize the esteemed international position the country has attained under the wise leadership. The agreement to host this prestigious event until 2018 reflects the success of the UAE in organizing such an important event which brings together several experts in a number of fields from across the world,” he added.
“The Network of Global Agenda Councils has flourished over the past five years since its association with the United Arab Emirates began. The UAE not only provides a supportive physical environment for Council members during their Annual Summit, it has provided the momentum for the Network to help drive crucial Council ideas and initiatives forward. This has helped the Summit on the Global Agenda to truly become the world’s foremost meeting of thought leaders and I look forward working with our partners to continue this trajectory by finding new and innovative ways of helping address the world’s toughest challenges,” Professor Klaus Schwab, said.
The Summit on the Global Agenda Councils, being hosted by the UAE every year, has been expanding the scope of participation to include all segments of society. According to the agreement, the Regional Organizations Forum to discuss the common challenges, will be held on the sidelines of the Summit.
The agreement will ensure greater participation for Emarati experts by raising the formal representation of the UAE in the meetings of the Davos Summit organized annually by WEF. It will also aim to increase the number of the candidates from the UAE government participating in the meeting of the Summit on Global Agenda, held in the country. The Summit includes 85 sessions covering various topics held in the presence of over 1,000 experts and decision makers from around the world.
Chairman of the Department of Economic Development-Abu Dhabi, Nasser Ahmed Al Suwaidi, said that Abu Dhabi Government believed in the importance of successful partnerships locally to enhance the position of the country internationally in terms of hosting global events. He asserted the readiness of Abu Dhabi to host the Summit, indicating the events of the sixth round of the Summit will be held in Abu Dhabi during 18-20 November 2013.
“The continued hosting of the Summit on the Global Agenda Councils in the UAE reflects the esteemed position of the country as a global hub for economic events and important conferences, which contributes to enhancing the capabilities of the country, in general, and Dubai, in particular, to host the EXPO 2020. The participation of the UAE in the Summit strengthens the efforts to build the national cadres and competencies, as well as improves the position of the country globally,” the Director General of Dubai Economic Department, Sami Daen Al Qamzi, said.
The Summit on the Global Agenda Council brings together world class thinkers and thought leaders to meet, capture the best knowledge and challenge prevailing assumptions on topics such as financing and capitalism, climate change, food and water security, protection of intellectual property, organized crime, and other socio-economic, environmental and educational issues.
The Summit will also present excellent opportunities for leading UAE innovators and thinkers to engage with their global peers from over the world. The UAE has been hosting the Summit since 2008 in association with the WEF.
Al Gergawi said the term of the agreement with the WEF has been extended for the next five years in line with the directives of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to enhance the UAE’s position as a key player in encouraging intellectual dialogue, and proposing recommendations to resolve pressing global issues.
“The strategic role played by the UAE in discussions on global challenges and efforts to find ideal solutions to critical issues emphasize the esteemed international position the country has attained under the wise leadership. The agreement to host this prestigious event until 2018 reflects the success of the UAE in organizing such an important event which brings together several experts in a number of fields from across the world,” he added.
“The Network of Global Agenda Councils has flourished over the past five years since its association with the United Arab Emirates began. The UAE not only provides a supportive physical environment for Council members during their Annual Summit, it has provided the momentum for the Network to help drive crucial Council ideas and initiatives forward. This has helped the Summit on the Global Agenda to truly become the world’s foremost meeting of thought leaders and I look forward working with our partners to continue this trajectory by finding new and innovative ways of helping address the world’s toughest challenges,” Professor Klaus Schwab, said.
The Summit on the Global Agenda Councils, being hosted by the UAE every year, has been expanding the scope of participation to include all segments of society. According to the agreement, the Regional Organizations Forum to discuss the common challenges, will be held on the sidelines of the Summit.
The agreement will ensure greater participation for Emarati experts by raising the formal representation of the UAE in the meetings of the Davos Summit organized annually by WEF. It will also aim to increase the number of the candidates from the UAE government participating in the meeting of the Summit on Global Agenda, held in the country. The Summit includes 85 sessions covering various topics held in the presence of over 1,000 experts and decision makers from around the world.
Chairman of the Department of Economic Development-Abu Dhabi, Nasser Ahmed Al Suwaidi, said that Abu Dhabi Government believed in the importance of successful partnerships locally to enhance the position of the country internationally in terms of hosting global events. He asserted the readiness of Abu Dhabi to host the Summit, indicating the events of the sixth round of the Summit will be held in Abu Dhabi during 18-20 November 2013.
“The continued hosting of the Summit on the Global Agenda Councils in the UAE reflects the esteemed position of the country as a global hub for economic events and important conferences, which contributes to enhancing the capabilities of the country, in general, and Dubai, in particular, to host the EXPO 2020. The participation of the UAE in the Summit strengthens the efforts to build the national cadres and competencies, as well as improves the position of the country globally,” the Director General of Dubai Economic Department, Sami Daen Al Qamzi, said.
The Summit on the Global Agenda Council brings together world class thinkers and thought leaders to meet, capture the best knowledge and challenge prevailing assumptions on topics such as financing and capitalism, climate change, food and water security, protection of intellectual property, organized crime, and other socio-economic, environmental and educational issues.
The Summit will also present excellent opportunities for leading UAE innovators and thinkers to engage with their global peers from over the world. The UAE has been hosting the Summit since 2008 in association with the WEF.
Over 2,000 experts to focus on government services
DUBAI: Over 2,000 Arab and international experts will join local and global entities at the Government Summit, the region’s largest platform to exchange experience and enhance government services.
The upcoming summit underlines the vision of the UAE federal government about the future of government services and serves as a strong platform to boost governmental services to citizens and residents.
UAE Minister of Cabinet Affairs Mohammed Al Gergawi is the head of the Organising Committee of the summit to be held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The summit will be held in Dubai on Feb.11 and 12 under the theme ‘Leading Government Services.’
Gergawi said that hosting the summit is in line with the UAE leadership’s vision to enhance government services continuously to meet the aspirations of citizens.
Gergawi explained that the summit, which will host 2,000 delegates representing the UAE, the Arab region and other parts of the world, aims to achieve the objectives of improving government services, strengthening cooperation and coordination between the federal and local governments, among other things.
He said that the summit has formed strategic partnerships with national and international organisations to enrich dialogue about best practices in providing government services.
The summit will launch several international reports published in Arabic for the first time to be distributed in the UAE and the Arab world to expand and disseminate knowledge to benefit decision-makers, researchers and government experts.
The summit will also host several workshops and constructive discussions to enhance the quality of government services and provide a model for governmental concepts and practices in the region.
Haiyan Qian, director, Division for Public Administration and Development Management, United Nations’ Department of Economic and Social Affairs, added: “The summit is a timely event as it will promote knowledge sharing and transfer of innovative practices in public governance and help build a common understanding of how UN member states can enhance government performance and delivery of services.
The upcoming summit underlines the vision of the UAE federal government about the future of government services and serves as a strong platform to boost governmental services to citizens and residents.
UAE Minister of Cabinet Affairs Mohammed Al Gergawi is the head of the Organising Committee of the summit to be held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The summit will be held in Dubai on Feb.11 and 12 under the theme ‘Leading Government Services.’
Gergawi said that hosting the summit is in line with the UAE leadership’s vision to enhance government services continuously to meet the aspirations of citizens.
Gergawi explained that the summit, which will host 2,000 delegates representing the UAE, the Arab region and other parts of the world, aims to achieve the objectives of improving government services, strengthening cooperation and coordination between the federal and local governments, among other things.
He said that the summit has formed strategic partnerships with national and international organisations to enrich dialogue about best practices in providing government services.
The summit will launch several international reports published in Arabic for the first time to be distributed in the UAE and the Arab world to expand and disseminate knowledge to benefit decision-makers, researchers and government experts.
The summit will also host several workshops and constructive discussions to enhance the quality of government services and provide a model for governmental concepts and practices in the region.
Haiyan Qian, director, Division for Public Administration and Development Management, United Nations’ Department of Economic and Social Affairs, added: “The summit is a timely event as it will promote knowledge sharing and transfer of innovative practices in public governance and help build a common understanding of how UN member states can enhance government performance and delivery of services.
Wednesday, January 23, 2013
Government Summit joins hands with local and global entities
The Government Summit underlines the vision of the UAE Federal government about the future of government services and serves as a strong platform to further enhance government services Mohammed Al Gergawi, UAE Minister of Cabinet Affairs and Head of the Organizing Committee of The Government Summit, to be held under the patronage of Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, on February 11 and 12, 2013 under the theme ?Leading Governments Services,? said that hosting the Summit in the UAE is in line with the UAE? leadership?s vision to further enhance Government services continuously to meet the aspirations of citizens.
Al Gergawi said that The Government Summit, billed as the largest government gathering in the region and the Arab world, serves as a new platform to develop government work and services and enable the government sector to achieve excellence, which is crucial to achieve Vision 2021.
He explained that the Summit, which will host 2,000 delegates representing UAE, the Arab region and other parts of the world as well as several national, regional and international government leaders and experts, aims to achieve the objectives of improving government services, strengthening cooperation and coordination between the federal and local government, exchanging knowledge, building skills and capacity of UAE nationals and learning about best global and local practices.
He said that the Summit has formed strategic partnerships with national and international organisations to enrich dialogue about best practices in providing government services and will contribute to strengthening mutual cooperation through exchange of experiences, with several global entities taking part in the event.
The Minister explained that the Government Summit has formed strategic partnerships with renowned organisations including the Dubai School of Government, and international entities such as the Organization for Economic Co-operation and Development (OECD), Division for Public Administration & Development Management (DPADM) United Nations Department of Economic and Social Affairs (UNDESA) and specialized international institutions such as Get?lio Vargas Foundation, and Lee Kuan Yew School of Public Policy in Singapore and others.
To further drive these partnerships, the Summit will launch several international reports published in Arabic for the first time to be distributed in the UAE and the Arab world to expand and disseminate knowledge to benefit decision makers, researchers and government experts.
The Summit will also host several workshops and constructive discussions to enhance the quality of government services and provide a model for governmental concepts and practices in the region.
Shaikh Mohammad sends condolences to Ruler of Ajman
Ajman: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Sunday offered condolences to His Highness Shaikh Humaid Bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, on the death of his brother Shaikh Abdullah Bin Rashid Al Nuaimi.
Shaikh Humaid received condolences from His Highness Shaikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.
Shaikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman, Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs, sons of the late Shaikh Abdullah, and other senior officials and guests were present.
He also received condolences from Shaikh Sultan Bin Mohammad Bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, Shaikh Mohammad Bin Hamad Bin Mohammad Al Sharqi, Crown Prince of Fujairah, as well as other Shaikhs and senior officials.
President receives note from King Abdullah
The President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, has received a letter from the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz of Saudi Arabia, inviting him to attend the third Arab Economic, Social and Development Summit, due in Riyadh on January 21 and 22.
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, received the note during his meeting on Sunday with the Saudi Ambassador to the United Arab Emirates, Ibrahim bin Saad Al Brahim, who called on him here at the Presidential Palace to convey the greetings of King Abdullah.
In attendance at the meeting were General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Lt-General Shaikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior; and Shaikh Abdullah bin Zayed Al Nahyan, Foreign Minister.
Shaikh Mohammed reciprocated the greetings to the Custodian of the Two Holy Mosques.
Also present were Mohammed Abdullah Al Gergawi, Minister for Cabinet Affairs; Dr Anwar Mohammed Gargash, Minister of State for Foreign Affairs and Minister of State for Federal National Council Affairs; Reem Ibrahim Al Hashemi, Minister of State; Lt-Gen Musabbah Rashid Al Fattan, Director of the Office of the Vice-President and Prime Minister and Ruler of Dubai; and Khalifa Saeed Sulaiman, Director-General of Dubai Protocol and guests.
Sunday, January 13, 2013
Khalifa invited to summit in Riyadh
Abu Dhabi: President His Highness Shaikh Khalifa Bin Zayed Al Nahyan received an invitation from Saudi Arabia’s King Abdullah Bin Abdul Aziz to attend the third Arab Socio-Economic Summit.
The summit will take place in Riyadh on January 21-22.
The invitation was delivered to His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, when he received at the Presidential Palace Ebrahim Al Sa’ad Al Barahim, Saudi Arabia’s ambassador to the UAE.
Al Barahim conveyed to Shaikh Mohammad King Abdullah’s greetings.
Present during the meeting were Lieutenant General Shaikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, Shaikh Abdullah Bin Zayed Al Nahyan, Foreign Minister, Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs, Dr Anwar Mohammad Gargash, Minister of State for Foreign Affairs, and other senior officials.
The summit will take place in Riyadh on January 21-22.
The invitation was delivered to His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, when he received at the Presidential Palace Ebrahim Al Sa’ad Al Barahim, Saudi Arabia’s ambassador to the UAE.
Al Barahim conveyed to Shaikh Mohammad King Abdullah’s greetings.
Present during the meeting were Lieutenant General Shaikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, Shaikh Abdullah Bin Zayed Al Nahyan, Foreign Minister, Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs, Dr Anwar Mohammad Gargash, Minister of State for Foreign Affairs, and other senior officials.
Thursday, January 10, 2013
Giant leap in diversification
DUBAI — Dubai has taken a giant leap towards diversification by putting into motion an ambitious plan to turn the emirate into the Islamic economy capital of the world. The plan is envisioned to grab a significant share of the Islamic finance market worth trillions of dollars.
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday announced a group of initiatives to set up a comprehensive platform of Islamic economy products and services aimed at integrating Islamic economy as part of the emirate’s overall economy.
Top government officials, senior bankers and Shariah specialists welcomed the initiatives and said it would further strengthen Dubai’s position as one of the top international financial hubs.
Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said: “I am optimistic about achieving the goal of Dubai becoming the world capital of Islamic economy. Dubai has sufficient experience, state-of-the-art infrastructure and possesses strategic geographical location in the heart of the Islamic world. It also has the will and determination, but has the most important of all: Mohammed bin Rashid Al Maktoum, who leads Dubai with all wisdom, confidence and resolve for the future.”
Shaikh Mohammed later issued a decree assigning Shaikh Hamdan to oversee the development of the Islamic economy sector. Shaikh Mohammed said that with Islamic economic principles playing a growing significance in today’s global business environment, with its size reaching $2.3 trillion and a growing community of 1.6 billion Muslims, the new initiatives are expected to further promote investments in Dubai, especially from economies spanning the Middle East, Africa, South Asia and South-east Asia.
Among other initiatives announced by Shaikh Mohammed include the development of commercial standards for Islamic industries and guidelines for Halal food manufacturing. Dubai also seeks to develop Islamic quality standards for Halal food approval. This will encourage the food industry and promote linkages with global and regional businesses, as well as different business sectors, including transport, storage and handling.
The planned platform includes Islamic finance instruments, Islamic insurance, Islamic contracts’ arbitration, Islamic food industry and trade standards (Halal food), and Islamic quality management standards.
“The new initiatives from His Highness will certainly lend tremendous support and confidence to the industry and encourage the stakeholders to comfortably rely on using Islamic banking, finance and insurance solutions to satiate their financing requirements to ensure the continuity in their growth and development,” Dr Hussain Hamed Hassan, chairman of the Shariah Board of Dubai Islamic Bank and managing director of Dar Al Shariah Legal and Financial Consultancy, told Khaleej Times.
Giyas Gokkent, group chief economist at National Bank of Abu Dhabi, said Dubai has in place basic ingredients to become the capital of Islamic finance. “Advisory, regulatory, legal structure and workforce are two pertinent ingredients, but there is a range of other factors which are also relevant to becoming a general financial centre — many of which Dubai already has,” Gokkent said. He said the Shariah–compliant banks roughly have a 15 per cent share in banking activity in the country as a whole.
Shaikh Mohammed said the new framework for promoting Islamic economy will further strengthen the open and integrated approach of Dubai in doing business. It is expected to lend further momentum to Dubai’s well-diversified economy, which is on an ambitious growth path fuelled by the robust performance of its core sectors including trade, retail, tourism, aviation, hospitality, financial services and logistics in 2012.
“Our cosmopolitan outlook to doing business continues to be our economy’s driving force. Adopting a modern and scientific framework for Islamic economies worldwide, here in Dubai, meets the demand from local, regional and international investors for a central hub to invest, grow and do business,” he added.
He said the government will not compromise on its principles of openness and commitment to a free market economy. “By strengthening Islamic economic principles as an integral part of our overall approach to growth and development, we are further supporting the entrepreneurial community, especially from the Arab world,” he added.
Shaikha Lubna Al Qasimi, Minister of Foreign Trade, praised the announcement and said the move would build on Dubai’s success based on a well-planned vision to push economic diversification drive forward and create new sectors that support the pace of developmental, economic and social progress.
Dubai Islamic Bank deputy chief executive officer Dr Adnan Chilwan said: “With an unrivalled level of expertise and experience, the UAE is uniquely positioned to service the ever-increasing worldwide demand for innovative, high-quality, Shariah-compliant products and services. Dubai Islamic Bank, which has been the pioneer of Islamic banking across the world, congratulates His Highness on this visionary initiative, and assures its commitment to help make Dubai into the global capital of Islamic economy.”
Afaq Khan, chief executive officer, Standard Chartered Saadiq, said: “The creation of the Islamic finance council will further strengthen Dubai’s position as an international financial hub. Islamic finance has grown significantly over the past few years and has played a key role in the development of the financial industry as a whole. As a leading international bank, Standard Chartered remains committed to Dubai and the UAE as we continue to provide world class Islamic Financial Services and expand our capabilities to leverage the growing needs of clients in the country and across the region.
Mohammed Wassim Khayata, group chief operating officer of Finance House, told Khaleej Times: “The addition of this sector, which is just a milestone in Dubai’s economy, emphasies the importance and durability of the economic infrastructure of the emirate.”
Dr Qaiser Anis, managing director of consultancy firm Alliott Management Consulting, added: “The move will be a success like the free zones.” Due to its ideal geographical location and pro-business environment, he said the Halal food industry can help boost Dubai’s GDP substantially.”
Shaikh Hamdan to oversee Islamic economy sector:
DUBAI — His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued a decree assigning Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, to oversee the development of the Islamic Economy sector in the emirate.
Shaikh Mohammed also approved the setting up of a high committee tasked with the development of the Islamic economy sector in Dubai. The committee will operate in accordance with an integrated system to develop the new sector.
The committee will be chaired by Mohammed Abdullah Al Gergawi, Chairman of Shaikh Mohammed’s Executive Office, with Sami Al Qamzi, Director-General of the Dubai Department of Economic Development, as Vice-Chairman. Other members of the committee include Abdul Aziz Al Ghurair, Vice-Chairman of the Higher Board of the Dubai International Financial Centre; Hussein Nasser Lootah, Director-General of Dubai Municipality; Dr Hamad bin Al Sheikh Ahmed Al Sheibani, Director-General of the Department of Islamic Affairs and Charity Work in Dubai; Abdul Rahman Saif Al Ghurair, Chairman of the Dubai Chamber of Commerce and Industry; and Hussein Al Qamzi, Chief Executive of Dubai’s Noor Islamic Bank, in addition to Essa Kazim, Chairman of the Dubai Financial Market, who will serve as the committee’s Secretary-General. —Wam
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday announced a group of initiatives to set up a comprehensive platform of Islamic economy products and services aimed at integrating Islamic economy as part of the emirate’s overall economy.
Top government officials, senior bankers and Shariah specialists welcomed the initiatives and said it would further strengthen Dubai’s position as one of the top international financial hubs.
Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said: “I am optimistic about achieving the goal of Dubai becoming the world capital of Islamic economy. Dubai has sufficient experience, state-of-the-art infrastructure and possesses strategic geographical location in the heart of the Islamic world. It also has the will and determination, but has the most important of all: Mohammed bin Rashid Al Maktoum, who leads Dubai with all wisdom, confidence and resolve for the future.”
Shaikh Mohammed later issued a decree assigning Shaikh Hamdan to oversee the development of the Islamic economy sector. Shaikh Mohammed said that with Islamic economic principles playing a growing significance in today’s global business environment, with its size reaching $2.3 trillion and a growing community of 1.6 billion Muslims, the new initiatives are expected to further promote investments in Dubai, especially from economies spanning the Middle East, Africa, South Asia and South-east Asia.
Among other initiatives announced by Shaikh Mohammed include the development of commercial standards for Islamic industries and guidelines for Halal food manufacturing. Dubai also seeks to develop Islamic quality standards for Halal food approval. This will encourage the food industry and promote linkages with global and regional businesses, as well as different business sectors, including transport, storage and handling.
The planned platform includes Islamic finance instruments, Islamic insurance, Islamic contracts’ arbitration, Islamic food industry and trade standards (Halal food), and Islamic quality management standards.
“The new initiatives from His Highness will certainly lend tremendous support and confidence to the industry and encourage the stakeholders to comfortably rely on using Islamic banking, finance and insurance solutions to satiate their financing requirements to ensure the continuity in their growth and development,” Dr Hussain Hamed Hassan, chairman of the Shariah Board of Dubai Islamic Bank and managing director of Dar Al Shariah Legal and Financial Consultancy, told Khaleej Times.
Giyas Gokkent, group chief economist at National Bank of Abu Dhabi, said Dubai has in place basic ingredients to become the capital of Islamic finance. “Advisory, regulatory, legal structure and workforce are two pertinent ingredients, but there is a range of other factors which are also relevant to becoming a general financial centre — many of which Dubai already has,” Gokkent said. He said the Shariah–compliant banks roughly have a 15 per cent share in banking activity in the country as a whole.
Shaikh Mohammed said the new framework for promoting Islamic economy will further strengthen the open and integrated approach of Dubai in doing business. It is expected to lend further momentum to Dubai’s well-diversified economy, which is on an ambitious growth path fuelled by the robust performance of its core sectors including trade, retail, tourism, aviation, hospitality, financial services and logistics in 2012.
“Our cosmopolitan outlook to doing business continues to be our economy’s driving force. Adopting a modern and scientific framework for Islamic economies worldwide, here in Dubai, meets the demand from local, regional and international investors for a central hub to invest, grow and do business,” he added.
He said the government will not compromise on its principles of openness and commitment to a free market economy. “By strengthening Islamic economic principles as an integral part of our overall approach to growth and development, we are further supporting the entrepreneurial community, especially from the Arab world,” he added.
Shaikha Lubna Al Qasimi, Minister of Foreign Trade, praised the announcement and said the move would build on Dubai’s success based on a well-planned vision to push economic diversification drive forward and create new sectors that support the pace of developmental, economic and social progress.
Dubai Islamic Bank deputy chief executive officer Dr Adnan Chilwan said: “With an unrivalled level of expertise and experience, the UAE is uniquely positioned to service the ever-increasing worldwide demand for innovative, high-quality, Shariah-compliant products and services. Dubai Islamic Bank, which has been the pioneer of Islamic banking across the world, congratulates His Highness on this visionary initiative, and assures its commitment to help make Dubai into the global capital of Islamic economy.”
Afaq Khan, chief executive officer, Standard Chartered Saadiq, said: “The creation of the Islamic finance council will further strengthen Dubai’s position as an international financial hub. Islamic finance has grown significantly over the past few years and has played a key role in the development of the financial industry as a whole. As a leading international bank, Standard Chartered remains committed to Dubai and the UAE as we continue to provide world class Islamic Financial Services and expand our capabilities to leverage the growing needs of clients in the country and across the region.
Mohammed Wassim Khayata, group chief operating officer of Finance House, told Khaleej Times: “The addition of this sector, which is just a milestone in Dubai’s economy, emphasies the importance and durability of the economic infrastructure of the emirate.”
Dr Qaiser Anis, managing director of consultancy firm Alliott Management Consulting, added: “The move will be a success like the free zones.” Due to its ideal geographical location and pro-business environment, he said the Halal food industry can help boost Dubai’s GDP substantially.”
Shaikh Hamdan to oversee Islamic economy sector:
DUBAI — His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued a decree assigning Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, to oversee the development of the Islamic Economy sector in the emirate.
Shaikh Mohammed also approved the setting up of a high committee tasked with the development of the Islamic economy sector in Dubai. The committee will operate in accordance with an integrated system to develop the new sector.
The committee will be chaired by Mohammed Abdullah Al Gergawi, Chairman of Shaikh Mohammed’s Executive Office, with Sami Al Qamzi, Director-General of the Dubai Department of Economic Development, as Vice-Chairman. Other members of the committee include Abdul Aziz Al Ghurair, Vice-Chairman of the Higher Board of the Dubai International Financial Centre; Hussein Nasser Lootah, Director-General of Dubai Municipality; Dr Hamad bin Al Sheikh Ahmed Al Sheibani, Director-General of the Department of Islamic Affairs and Charity Work in Dubai; Abdul Rahman Saif Al Ghurair, Chairman of the Dubai Chamber of Commerce and Industry; and Hussein Al Qamzi, Chief Executive of Dubai’s Noor Islamic Bank, in addition to Essa Kazim, Chairman of the Dubai Financial Market, who will serve as the committee’s Secretary-General. —Wam
Hamdan to oversee Islamic economy sector
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued a decree assigning Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, to oversee the development of the Islamic Economy sector in the emirate. Shaikh Mohammed also approved the setting up of a high committee tasked with the development of the Islamic economy sector in Dubai. The committee will operate in accordance with an integrated system to develop the new sector. The committee will be chaired by Mohammed Abdullah Al Gergawi, Chairman of Shaikh Mohammed’s Executive Office, with Sami Al Qamzi, Director-General of the Dubai Department of Economic Development, as Vice-Chairman. Other members of the committee include Abdul Aziz Al Ghurair, Vice-Chairman of the Higher Board of the Dubai International Financial Centre; Hussein Nasser Lootah, Director-General of Dubai Municipality; Dr Hamad bin Al Sheikh Ahmed Al Sheibani, Director-General of the Department of Islamic Affairs and Charity Work in Dubai; Abdul Rahman Saif Al Ghurair, Chairman of the Dubai Chamber of Commerce and Industry; and Hussein Al Qamzi, Chief Executive of Dubai’s Noor Islamic Bank, in addition to Essa Kazim, Chairman of the Dubai Financial Market, who will serve as the committee’s Secretary-General.
Mohammed launches platform for Islamic economic solutions
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday announced a set of initiatives to set up a comprehensive platform of Islamic economy products and services aimed at integrating Islamic economy as part of the overall Dubai economy.
The platform includes Islamic finance instruments, Islamic insurance, Islamic contracts’ arbitration, Islamic food industry and trade standards (halal food), and Islamic quality management standards.
With Islamic economic principles playing a growing significance in today’s global business environment, with Islamic economy size reaching $2.3 trillion and a growing community of 1.6 billion Muslims, the new initiatives are expected to further promote investments in Dubai, especially from economies spanning the Middle East, Africa, South Asia and Southeast Asia.
Sheikh Mohammed said that new framework for promoting Islamic economy will further strengthen the open and integrated approach of Dubai in doing business. It is expected to lend further momentum to Dubai’s well-diversified economy, which is an ambitious growth path fuelled by the robust performance of its core sectors including trade, retail, tourism, aviation, hospitality, financial services and logistics in 2012.
“Our cosmopolitan outlook to doing business continues to be our economy’s driving force. Adopting a modern and scientific framework for Islamic economies world-wide, here in Dubai, meets the demand from local, regional and international investors for a central hub to invest, grow and do business,” said Sheikh Mohammed.
Sheikh Mohammed added that the new initiatives will further boost the economic diversification of Dubai and complement Dubai’s pioneering approach to Islamic economy, having established the world’s first Islamic bank in the 1970s as well as the world’s first Islamic financial market.
Among other initiatives announced by Sheikh Mohammed include the development of commercial standards for Islamic industries and guidelines for halal food manufacturing.
Dubai also seeks to develop Islamic quality standards for halal food approval. This will encourage the food industry and promote linkages with global and regional businesses, as well as different business sectors including transport, storage and handling.
Sheikh Mohammed said the government will not compromise on its principles of openness and commitment to a free market economy.
“By strengthening Islamic economic principles as an integral part of our overall approach to growth and development, we are further supporting the entrepreneurial community, especially from the Arab world,” he said.
Dubai has the robust infrastructure to serve as the centre of the Islamic economies across the Middle East and North Africa. Geographically too, the city has the advantage of serving as a vital link between the West and the East. Dubai International Airport – the world’s fourth busiest hub for international passengers – receives more than 55 million passengers yearly.
Dubai’s non-oil foreign trade reached over Dh1 trillion in the first ten months of 2012, about 13 per cent more than the same period in 2011.
Sheikh Hamdan commissioned to oversee Islamic economy sector
Sheikh Mohammed has issued a decree commissioning Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, CrownPrince of Dubai, to oversee the development of the Islamic economy sector in the emirate.
Sheikh Mohammed also approved the setting up of a high committee tasked with the development of the Islamic economy sector in Dubai. The committee will operate in accordance with an integrated system to develop the new sector.
The committee will be chaired by the Chairman of Sheikh Mohammed ‘s Executive Office, Mohammed Abdullah Al Gergawi, with the Director General of the Dubai Department of Economic Development, Sami Al Qamzi, as Vice Chairman. Other members of the committee include the Vice Chairman of the Higher Board of the Dubai International Financial Centre, Abdul Aziz Al Ghurair, the Director General of Dubai Municipality, Hussein Nasser Lootah, the Director General of the Department of Islamic Affairs and Charity Work in Dubai, Dr. Hamad bin Al Sheikh Ahmed Al Sheibani, the Chairman of the Dubai Chamber of Commerce and Industry, Abdul Rahman Saif Al Ghurair, and the Chief Executive of Dubai’s Noor Islamic Bank, Hussein Al Qamzi, in addition to the Chairman of the Dubai Financial Market, Essa Kazim, who will serve as the committee’s Secretary General.
The decree states that the committee may co-opt other members that it deems suitable to help it to achieve its objectives.
Dubai can become world capital of Islamic economy: Sheikh Hamdan
The secret behind Dubai’s success is the innovative vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has said.
Tasked with the supervision of the development of Islamic economy to become one of the basic components of Dubai’s economy, Sheikh Hamdan said: “The innovative vision of Sheikh Mohammed compels us to think in different and innovative ways so as to achieve the goals put forward by Sheikh Mohammed. They oblige all institutions and departments operating in Dubai to work as a team.”
He added, “I am optimistic about achieving the goal of Dubai becoming the world capital of Islamic economy. Dubai has sufficient experience, state-of-the-art infrastructure and has a strategic geographical location in the heart of the Islamic world. It also has the will and determination, but has, the most important of all, Mohammed bin Rashid Al Maktoum, who leads Dubai with all wisdom, confidence and resolve for the future.”
‘Islamic economy initiative will take UAE to new heights’
The ‘’Dubai: Capital of Islamic Economy’ initiative constitutes an important qualitative addition that will take the national economy to new heights, according to Dr. Rashid Ahmed bin Fahad, Minister of Environment and Water.
The minister said the initiative reflects Sheikh Mohammed’s long-term strategic vision for boosting the prominent standing the UAE, in general, and Dubai, in particular, occupy as a regional and international financial hub, building on advanced corporate and legislative infrastructure maintained by Dubai due to accumulated wealth of expertise in Islamic economy.
The UAE, he noted, was among the leading countries which provided world class Shariah-compliant financial services and products that cater to demands of millions of customers.
The initiative, he said, would consolidate the UAE’s position in the trade and production of Halal products and services amid the rapid growing of the market to more than $8 billion by 2020 from less than $4 billion in 2010.
He affirmed the ministry would play an effective role along with other partners and stakeholders in implementing the initiative.
He cited the UAE’s leading role and efforts – through its presidency of the technical committee for Halal food standards of the Organisation of Islamic Cooperation (OIC) – in crafting international Halal foods standards.
As chairman of the Standards and Metrology Institute for Islamic Countries (SMIIC), the UAE, guided and inspired by Sheikh Mohammed’s vision, will strive to develop international legislations, regulations and standards for Halal foods.
Sheikha Lubna lauds Islamic economy vision as ‘promising’
Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, on Wednesday praised the announcement of Sheikh Mohammed for integrating Islamic economy as a key sector of Dubai economy as a ‘promising step forward’ to boost assets and gains made by Dubai over the recent years.
Sheikha Lubna the move would build on Dubai’s success based on a well-planned vision to push economic diversification drive forward and create new sectors that support the accelerating pace of developmental, economic and social progress.
The UAE with its successful economic diversification policies, the minister affirmed, had become a premier investment melting pot buoyed by a vibrant diversified base for Islamic economy and other Shariah-compliant activities like Sukuk.
Moreover, she added the UAE serves as a global hub for Islamic banking with increasing number of banks playing major roles in funding and developing projects in the region and beyond.
”Sheikh Mohammed’s initiative carries the inclusive perspective for contemporary development and economic growth both Dubai and the UAE are currently witnessing,” Sheikh Lubna added, calling on investors wishing to establish projects and strike deals in consistence with Shariah principles to take advantage of support and sponsorship provided by the wise leadership in the framework of its quest to leverage the Islamic economy as tributary of UAE national economy.
Sheikha Lubna noted that her ministry delegations had been approached during foreign tours by investors who wanted to launch Shariah-compliant investment in the UAE in general and Dubai in particular given the diverse options and instruments on offer.
The platform includes Islamic finance instruments, Islamic insurance, Islamic contracts’ arbitration, Islamic food industry and trade standards (halal food), and Islamic quality management standards.
With Islamic economic principles playing a growing significance in today’s global business environment, with Islamic economy size reaching $2.3 trillion and a growing community of 1.6 billion Muslims, the new initiatives are expected to further promote investments in Dubai, especially from economies spanning the Middle East, Africa, South Asia and Southeast Asia.
Sheikh Mohammed said that new framework for promoting Islamic economy will further strengthen the open and integrated approach of Dubai in doing business. It is expected to lend further momentum to Dubai’s well-diversified economy, which is an ambitious growth path fuelled by the robust performance of its core sectors including trade, retail, tourism, aviation, hospitality, financial services and logistics in 2012.
“Our cosmopolitan outlook to doing business continues to be our economy’s driving force. Adopting a modern and scientific framework for Islamic economies world-wide, here in Dubai, meets the demand from local, regional and international investors for a central hub to invest, grow and do business,” said Sheikh Mohammed.
Sheikh Mohammed added that the new initiatives will further boost the economic diversification of Dubai and complement Dubai’s pioneering approach to Islamic economy, having established the world’s first Islamic bank in the 1970s as well as the world’s first Islamic financial market.
Among other initiatives announced by Sheikh Mohammed include the development of commercial standards for Islamic industries and guidelines for halal food manufacturing.
Dubai also seeks to develop Islamic quality standards for halal food approval. This will encourage the food industry and promote linkages with global and regional businesses, as well as different business sectors including transport, storage and handling.
Sheikh Mohammed said the government will not compromise on its principles of openness and commitment to a free market economy.
“By strengthening Islamic economic principles as an integral part of our overall approach to growth and development, we are further supporting the entrepreneurial community, especially from the Arab world,” he said.
Dubai has the robust infrastructure to serve as the centre of the Islamic economies across the Middle East and North Africa. Geographically too, the city has the advantage of serving as a vital link between the West and the East. Dubai International Airport – the world’s fourth busiest hub for international passengers – receives more than 55 million passengers yearly.
Dubai’s non-oil foreign trade reached over Dh1 trillion in the first ten months of 2012, about 13 per cent more than the same period in 2011.
Sheikh Hamdan commissioned to oversee Islamic economy sector
Sheikh Mohammed has issued a decree commissioning Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, CrownPrince of Dubai, to oversee the development of the Islamic economy sector in the emirate.
Sheikh Mohammed also approved the setting up of a high committee tasked with the development of the Islamic economy sector in Dubai. The committee will operate in accordance with an integrated system to develop the new sector.
The committee will be chaired by the Chairman of Sheikh Mohammed ‘s Executive Office, Mohammed Abdullah Al Gergawi, with the Director General of the Dubai Department of Economic Development, Sami Al Qamzi, as Vice Chairman. Other members of the committee include the Vice Chairman of the Higher Board of the Dubai International Financial Centre, Abdul Aziz Al Ghurair, the Director General of Dubai Municipality, Hussein Nasser Lootah, the Director General of the Department of Islamic Affairs and Charity Work in Dubai, Dr. Hamad bin Al Sheikh Ahmed Al Sheibani, the Chairman of the Dubai Chamber of Commerce and Industry, Abdul Rahman Saif Al Ghurair, and the Chief Executive of Dubai’s Noor Islamic Bank, Hussein Al Qamzi, in addition to the Chairman of the Dubai Financial Market, Essa Kazim, who will serve as the committee’s Secretary General.
The decree states that the committee may co-opt other members that it deems suitable to help it to achieve its objectives.
Dubai can become world capital of Islamic economy: Sheikh Hamdan
The secret behind Dubai’s success is the innovative vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has said.
Tasked with the supervision of the development of Islamic economy to become one of the basic components of Dubai’s economy, Sheikh Hamdan said: “The innovative vision of Sheikh Mohammed compels us to think in different and innovative ways so as to achieve the goals put forward by Sheikh Mohammed. They oblige all institutions and departments operating in Dubai to work as a team.”
He added, “I am optimistic about achieving the goal of Dubai becoming the world capital of Islamic economy. Dubai has sufficient experience, state-of-the-art infrastructure and has a strategic geographical location in the heart of the Islamic world. It also has the will and determination, but has, the most important of all, Mohammed bin Rashid Al Maktoum, who leads Dubai with all wisdom, confidence and resolve for the future.”
‘Islamic economy initiative will take UAE to new heights’
The ‘’Dubai: Capital of Islamic Economy’ initiative constitutes an important qualitative addition that will take the national economy to new heights, according to Dr. Rashid Ahmed bin Fahad, Minister of Environment and Water.
The minister said the initiative reflects Sheikh Mohammed’s long-term strategic vision for boosting the prominent standing the UAE, in general, and Dubai, in particular, occupy as a regional and international financial hub, building on advanced corporate and legislative infrastructure maintained by Dubai due to accumulated wealth of expertise in Islamic economy.
The UAE, he noted, was among the leading countries which provided world class Shariah-compliant financial services and products that cater to demands of millions of customers.
The initiative, he said, would consolidate the UAE’s position in the trade and production of Halal products and services amid the rapid growing of the market to more than $8 billion by 2020 from less than $4 billion in 2010.
He affirmed the ministry would play an effective role along with other partners and stakeholders in implementing the initiative.
He cited the UAE’s leading role and efforts – through its presidency of the technical committee for Halal food standards of the Organisation of Islamic Cooperation (OIC) – in crafting international Halal foods standards.
As chairman of the Standards and Metrology Institute for Islamic Countries (SMIIC), the UAE, guided and inspired by Sheikh Mohammed’s vision, will strive to develop international legislations, regulations and standards for Halal foods.
Sheikha Lubna lauds Islamic economy vision as ‘promising’
Sheikha Lubna bint Khalid Al Qasimi, Minister of Foreign Trade, on Wednesday praised the announcement of Sheikh Mohammed for integrating Islamic economy as a key sector of Dubai economy as a ‘promising step forward’ to boost assets and gains made by Dubai over the recent years.
Sheikha Lubna the move would build on Dubai’s success based on a well-planned vision to push economic diversification drive forward and create new sectors that support the accelerating pace of developmental, economic and social progress.
The UAE with its successful economic diversification policies, the minister affirmed, had become a premier investment melting pot buoyed by a vibrant diversified base for Islamic economy and other Shariah-compliant activities like Sukuk.
Moreover, she added the UAE serves as a global hub for Islamic banking with increasing number of banks playing major roles in funding and developing projects in the region and beyond.
”Sheikh Mohammed’s initiative carries the inclusive perspective for contemporary development and economic growth both Dubai and the UAE are currently witnessing,” Sheikh Lubna added, calling on investors wishing to establish projects and strike deals in consistence with Shariah principles to take advantage of support and sponsorship provided by the wise leadership in the framework of its quest to leverage the Islamic economy as tributary of UAE national economy.
Sheikha Lubna noted that her ministry delegations had been approached during foreign tours by investors who wanted to launch Shariah-compliant investment in the UAE in general and Dubai in particular given the diverse options and instruments on offer.
Sunday, January 6, 2013
Clarity on new laws benefits everyone
Mobile phone owners were warned yesterday by the Telecommunications Regulatory Authority that the deadline for the first tranche of Sim-card re-registrations is January 17. The original deadline was October 16, but that was extended because too many people were unaware of the law, or did not understand their obligations under it.
The Sim re-registration case is one example of a confusion that sometimes exists after a law or regulation is introduced. And it's an issue that has been taken up by the Federal National Council, the consultative body that is designed, in part, to provide channels of communication between people and the government.
Last month, Salim Al Ameri, an FNC member from Abu Dhabi, sent a letter to Mohammed Al Gergawi, the Minister of Cabinet Affairs, in which he noted that people were being penalised for breaking laws they simply did not know existed. As The National reported yesterday, Mr Al Gerawi's reply noted that new laws were published in the official government gazette, and said that it was not necessary for everybody to know about every law because some legislation applied only to specific segments of society.
In the case of laws that applied to everyone, there were often press conferences followed by media campaigns and advertisements, he said. Mr Al Gerawi pointed to the example of Wadeema's Law, a crucial law on child protection that has received widespread publicity.
Still, the message sometimes fails to get through on other important initiatives, such as the Sim re-registration. Adding to the confusion is the fact that there are sometimes delays of years before laws are enacted, or the relevant regulations are even drawn up, creating problems for those with the task of enforcement.
As we saw with the Emirates ID, sometimes it is just a matter of time for a regulation to be implemented. The FNC plays an important role here, identifying shortfalls, speeding up the machinery of government and clarifying decisions. The lines of communication are open, but sometimes the message gets garbled.
While ignorance of the law is not an excuse, it is in everybody's interests for laws and regulations to be well understood from the beginning.
The Sim re-registration case is one example of a confusion that sometimes exists after a law or regulation is introduced. And it's an issue that has been taken up by the Federal National Council, the consultative body that is designed, in part, to provide channels of communication between people and the government.
Last month, Salim Al Ameri, an FNC member from Abu Dhabi, sent a letter to Mohammed Al Gergawi, the Minister of Cabinet Affairs, in which he noted that people were being penalised for breaking laws they simply did not know existed. As The National reported yesterday, Mr Al Gerawi's reply noted that new laws were published in the official government gazette, and said that it was not necessary for everybody to know about every law because some legislation applied only to specific segments of society.
In the case of laws that applied to everyone, there were often press conferences followed by media campaigns and advertisements, he said. Mr Al Gerawi pointed to the example of Wadeema's Law, a crucial law on child protection that has received widespread publicity.
Still, the message sometimes fails to get through on other important initiatives, such as the Sim re-registration. Adding to the confusion is the fact that there are sometimes delays of years before laws are enacted, or the relevant regulations are even drawn up, creating problems for those with the task of enforcement.
As we saw with the Emirates ID, sometimes it is just a matter of time for a regulation to be implemented. The FNC plays an important role here, identifying shortfalls, speeding up the machinery of government and clarifying decisions. The lines of communication are open, but sometimes the message gets garbled.
While ignorance of the law is not an excuse, it is in everybody's interests for laws and regulations to be well understood from the beginning.
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