The UAE is on the process of issuing a new banking credit law, Minister of Economy HE Sultan Al Mansouri revealed today according the Emirates News Agency WAM.
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”The Ministry of Finance has drafted the legislation which was referred to the Federal Cabinet for consideration and issuance after being revised by the ministerial committee for legislation,” Al Mansouri stated on the sideline of a symposium hosted today by Abu Dhabi on business environment in the Arab World.
He added that the Ministry of Economy had also finalized the new draft company law and expected the law to be out officially by next year.
According to him, these two legislation along with other measures including the e-government would contribute to improving the investment environment in the country.
Such measures, he hoped would lure in more foreign investment and sharpen the UAE’s business competitive edge at Arab and international markets.
