UAE cabinet approves crowdfunding by public, private sectors

Monday, 21 March 2022 17:42

By ARN News Staff

The UAE cabinet has authorised the use of crowdfunding by public and private sectors to finance innovative business ideas.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai announced the move while chairing the last cabinet meeting at Expo 2020 Dubai on Monday.

"Crowdfunding is one of the best tools to support the financing of innovative business ideas... and it will open a door for young people and entrepreneurs," Sheikh Mohammed said on Twitter.

The cabinet also approved a strategy aimed at enhancing the presence of women in leadership positions, in addition to a new law for cooperative societies in the country.

كما اعتمدنا في مجلس الوزراء اليوم إجازة ممارسة نشاط التمويل الجماعي Crowd funding وبأن يكون له مشغلين من القطاع الحكومي والخاص .. التمويل الجماعي من أفضل الوسائل لدعم تمويل الأفكار الابتكارية التجارية الجديدة .. وسيفتح باباً للشباب ورواد الأعمال في تمويل أفكارهم .. pic.twitter.com/7PEfmozn0z
— HH Sheikh Mohammed (@HHShkMohd) March 21, 2022

أقررنا في مجلس الوزراء قانوناً جديداً للجمعيات التعاونية في الدولة يجيز إدراجها في أسواقنا المالية ويتيح لها استقطاب شركاء استراتيجيين ويستحدث أنواعاً جديدة لها مثل التعاونيات الرقمية والمالية والمهنية وغيرها. التعاونيات نموذج اقتصادي ناجح يمكن البناء عليه وتطويره لآفاق جديدة pic.twitter.com/1VJxLSKfb7
— HH Sheikh Mohammed (@HHShkMohd) March 21, 2022

ترأست اليوم الاجتماع الأخير لمجلس الوزراء في إكسبو دبي ٢٠٢٠ … اجتماعات المجلس عبر ٦ أشهر في المعرض الثقافي الأكبر عالمياً عكست رؤية حكومة الإمارات في دعم الحدث وترسيخ حضوره محلياً وعالمياً وحشد كافة الطاقات لدعم نجاحه الاستثنائي.. pic.twitter.com/Xqi17dSxTw
— HH Sheikh Mohammed (@HHShkMohd) March 21, 2022

More from Local News

UAE says OPEC, OPEC+ exit was sovereign strategic decision, not political move

The UAE's decision to exit the Organisation of the Petroleum Exporting Countries (OPEC and OPEC+) was a "sovereign strategic choice" and not "driven by political considerations", Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, said on Saturday.
UAE reaffirms it took defensive actions to protect sovereignty, civilians

Strongly condemning Iran's "unprovoked" attacks on the UAE, the Ministry of Foreign Affairs stressed that all its actions were defensive, aimed at protecting its sovereignty and in line with the country’s legitimate right to safeguard its national security.
UAE refutes Iranian allegations at BRICS meeting

The UAE has strongly rejected Iranian allegations and threats targeting its sovereignty and national security, reaffirming its right to respond to any hostile actions in line with international law.
Dubai to launch drone delivery services at parks, beaches

Dubai is set to roll out drone delivery services across selected public parks and beaches as part of its push to enhance smart mobility and visitor convenience.
UAE, India ink defence, energy partnerships as Sheikh Mohamed meets Modi

The UAE and India have agreed the framework for a strategic defence partnership following talks between President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi on Friday.
UAE issues advisory over Danalac infant formula

UAE authorities have confirmed that Danalac infant formula is not registered in the country and has not been imported through official channels.
H.H. Sheikh Mohammed opens DEWA's 'largest, smartest net-zero energy' HQ

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has inaugurated Dubai Electricity and Water Authority's headquarters - Al Shera’a (known as sail in Arabic) - in Al Jaddaf.
UAE to restore Umayyad Mosque in Syria's Damascus

The UAE has announced the restoration of the historic Umayyad Mosque in Damascus with the support Her Highness Sheikha Fatima bint Mubarak, Mother of the Nation.
WATCH: Dubai driver caught for reckless stunts on high-speed highway

Dubai Police have detained a driver and impounded his car with a release fee of AED 50,000 after his reckless stunts on a highway endangered the lives of other motorists.
UAE brokers new round of Russia-Ukraine prisoner exchange

The UAE has successfully mediated another exchange of prisoners of war between Russia and Ukraine, involving 205 captives from each side.
H.H. Sheikh Khaled briefed on West-East oil pipeline project

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has been briefed on the West-East Pipeline oil project that is expected to double ADNOC's export capacity through Fujairah.
Dubai's RTA impounds over 9,000 cars in 2025 for illegal parking

Dubai's Roads and Transport Authority (RTA) on Friday said it impounded a total of 9,753 vehicles in the year 2025 for parking rule violations.
UAE condemns attack on Indian-flagged ship off Oman coast

The UAE has strongly condemned an attack targeting an Indian-flagged commercial ship off the coast of Oman, warning that the incident threatens international maritime security and the stability of critical shipping routes.
UAE, UK ministers discuss regional stability, bilateral ties

A high-level UAE–UK meeting in London has focused on security developments in the Middle East and the repercussions of recent Iranian missile and drone attacks targeting civilian sites in the UAE.
H.H. Sheikh Hamdan reviews operations, developments at Jebel Ali Port

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince and the UAE's Deputy Prime Minister and Defence Minister, has visited Jebel Ali Port to review operations and examine ongoing efforts to strengthen Dubai’s role as a global trade hub.
Drugs hidden inside passenger’s body seized at Abu Dhabi Airport

A drug smuggling attempt involving more than 1.4 kg of cocaine hidden inside a passenger’s body has been foiled at Abu Dhabi's Zayed International Airport.
UAE President, Montenegro PM discuss stronger bilateral cooperation

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has met with Montenegro’s Prime Minister Milojko Spajić, who is on a working visit to the UAE.
Fujairah says pipeline work triggered fire in petroleum industries area

Authorities in Fujairah have clarified that smoke seen in the Emirate's industrial area was caused by an "accidental fire" during routine pipeline maintenance work.
Yas Island announced as location for Sphere Abu Dhabi project

Abu Dhabi's Department of Culture and Tourism and Sphere Entertainment Co. have announced Yas Island as the location for Sphere Abu Dhabi.
Warning issued on dangers of sudden road stops after 1 dead, 19 injured

Dubai Police have issued a warning after a truck crashed into a bus that had broken down on Al Yalayis Street, near Sheikh Zayed bin Hamdan Bridge, leaving one dead and 19 injured.

News

UAE says OPEC, OPEC+ exit was sovereign strategic decision, not political move
The UAE's decision to exit the Organisation of the Petroleum Exporting Countries (OPEC and OPEC+) was a "sovereign strategic choice" and not "driven by political considerations", Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, said on Saturday.
UAE reaffirms it took defensive actions to protect sovereignty, civilians
Strongly condemning Iran's "unprovoked" attacks on the UAE, the Ministry of Foreign Affairs stressed that all its actions were defensive, aimed at protecting its sovereignty and in line with the country’s legitimate right to safeguard its national security.
UAE refutes Iranian allegations at BRICS meeting
The UAE has strongly rejected Iranian allegations and threats targeting its sovereignty and national security, reaffirming its right to respond to any hostile actions in line with international law.

UAE cabinet approves crowdfunding by public, private sectors

More from Local News

News

Our Shows

Quick Links

Listen on the Go

UAE cabinet approves crowdfunding by public, private sectors

Share

More from Local News

News

Our Shows

Quick Links

Listen on the Go