UAE Cabinet approves laws for housing loans, medicines

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The UAE Cabinet has approved several important laws.
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  • The UAE Cabinet has approved the requirements and conditions to clear housing loans for Emiratis
  • It has also approved the UAE National Medicine Policy, which aims to achieve equitable availability and affordability of essential medicines

The UAE Cabinet has approved the requirements and conditions to clear housing loans for Emiratis, local reports have said.

The approval came during a meeting of the cabinet chaired by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum

The local reports said the step that aims to enhance social stability and ensure an adequate standard of living for Emiratis.

The meeting, held at EXPO 2020 Dubai, was attended by UAE Vice-President Dubai deputy ruler Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Minister of the Interior Lt General Sheikh Saif bin Zayed Al Nahyan, and Minister of Presidential Affairs Sheikh Mansour bin Zayed Al Nahyan.

The Cabinet also approved the UAE National Medicine Policy, which aims to achieve equitable availability and affordability of essential medicines, said the local reports.

The policy is said to involve all main actors in the pharmaceutical field, and provide a framework within which the activities of the pharmaceutical sector can be coordinated.

It also reportedly encourages R&D in the sector, including operational research, drug development, and clinical research.

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

The cabinet also adopted the UAE cultural and creative industries strategy to maximize the sector participation to be among the top 10 performing sectors in the national economy and to account for 5 percent of the GDP.

The strategy — said to be the first of its kind in the Arab World — reportedly combines efforts of all key players of the sector, and adopts performance indicators to measure the progress achieved.

It is apparently aimed at fulfilling the UAE aspirations to be a globally recognized center of creative talents and a leading producer and exporter of creative and cultural content.

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

The cabinet also approved the issuance of a federal law regarding rehabilitation of juvenile delinquents and vulnerable to delinquents. The law will reportedly look to reintegrate such individuals into the community.

The meeting also saw the cabinet approve the issuance of a federal law regarding rehabilitation.

The law aims at accelerating the integration of convicts into society as it deals with restoration of former rights, authority, or abilities.

Amendments were also approved for the federal decree on the Common Customs Law of the Cooperation Council for the Arab States of the Gulf and its executive regulations.

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

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

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

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