Cabinet Resolution Regarding Refunding Bank and Financial Guarantees Given to the Ministry of Human Resources and Emiratization
The last update on this law was listed on 31 Mar 2020
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Article (1) Definitions
For the purpose of this Resolution the following words and expressions shall have the meanings assigned there, unless otherwise provided, to as follows:
The State: United Arab Emirates
The Ministry: Ministry of Human Resources and Emiratization
The Central Bank: The Central Bank of the UAE
Article (2) Refunding of the Banking and Financial Guarantees
The Ministry shall refund 50% of the value of the banking and financial guarantees provided thereto, to those who provided them, in accordance with the procedures and rules regulating this matter, in coordination with the Ministry of Finance and the Central Bank.
Article (3) Publication and Entry into Force
This Resolution shall be published in the Official Gazette and shall enter into force as of 1/4/2020.
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