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UAE to establish payment linkage systems between GCC states

UAE to establish payment linkage systems between GCC states

The law has also been amended to allow trade agencies that allows them to become public and private shareholding companies

The UAE Cabinet has adopted the establishment of payment linkage systems in the GCC countries, it was revealed on Sunday.

The Cabinet session, held on Sunday, was chaired by UAE Vice President and Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum.

Taking to Twitter, Sheikh Mohammed said the cabinet had also adopted the formation of a foreign direct investment committee to consider and facilitate the establishment of investment applications in vital sectors.

The UAE also adopted an amendment to the law on trade agencies, allowing them to become public and private shareholding companies, he confirmed.

The country also announced changes to the education system.

“The Emirati school system will be implemented in more than 800 state and private schools. The system includes various educational pathways such as the ‘general and advanced path’, the ‘elite path’ and the ‘vocational and technical education path’,” Sheikh Mohammed said.

“At the meeting, we also adopted the Federal Law on the welfare of senior citizens, which guarantees their health, treatment, rehabilitation and service rights provided by the state,” Sheikh Mohammed added on Twitter.

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