by admin | May 25, 2021 | Muslim World
Dubai, (IINA) – Dubai Islamic Bank (DIB) has launched the first UAE Shariah Departments Forum 2016 to create a platform where the Shariah departments of financial institutions across the country can meet to exchange experiences and share solutions to the challenges they face, with the strategic objective of developing the Islamic financial services sector in the UAE, Gulf News reported.
The opening event took place on Saturday. As the first event of its kind in the country, the forum was led by the Shariah department at DIB and featured the Shariah departments of other local Islamic banks including Abu Dhabi Islamic Bank (AIB), Emirates Islamic and Al Hilal Bank (EIAB). “Sharia Audit” was the theme of the event this year with a very comprehensive series of panels, each of which was led by one of the participants, discussing a different element of the topic.
DIB chaired a session on the “Shariah Auditor’s Guide”, while other banks covered topics such as “Shariah audit based on the risk of non-compliance” which was managed by AIB; “The relationship between Shariah audit and internal audit, and areas of cooperation” by Emirates Islamic; and “The differences between the Shariah auditor and the Shariah compliance reviewer” by Al Hilal Bank. The event concluded with a round-table discussion on the findings and the recommendations of the forum.
The event was established as a leading annual platform to discuss the most pressing issues facing Shariah departments and to develop innovative solutions that will drive the ongoing evolution of the Islamic financial services sector.
DIB’s Shariah department is looking forward to expanding this Forum over the next four years to include all the Islamic banks and Islamic windows in the country, as well as Islamic Finance companies, such as Takaful providers.
by admin | May 25, 2021 | Muslim World
Abu Dhabi : (IANS/WAM) The United Arab Emirates and Finland have signed an agreement on the exchange of information for tax purposes between the two countries.
The agreement was signed by Younis Haji Al Khoori, undersecretary of the finance ministry, and Riitta Swan, Ambassador of Finland to the UAE.
Al Khoori stressed the importance of signing similar agreements as they play a significant role in strengthening the financial and economic cooperation between countries, ensuring justice for individual or company taxpayers and protecting the national economy.
“Signing this agreement with Finland is a continuation to the series of international agreements previously signed between both countries,” Al Khoori said.
UAE and Finland are associated by a joint committee based on economic, industrial and technical cooperation between the two countries. The two parties signed agreements for the avoidance of double taxation on income, and for protecting and encouraging investments in 1996.
The foreign trade between both countries amounted to 342 million UAE dirhams ($98 million) in 2015.
by admin | May 25, 2021 | Muslim World
New Delhi : (IANS) The union cabinet on Wednesday approved the MoU between India and the UAE signed on February 11, 2016, to mobilise long-term investment into the National Investment and Infrastructure Fund (NIIF), an official statement said here.
The objective of NIIF is to maximise economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects. NIIF would solicit equity participation from strategic anchor partners.
The cabinet approved the creation of the National Investment and Infrastructure Fund (NIIF) in July 2015.
The joint statement with the United Arab Emirates (UAE) during the visit of Prime Minister Narendra Modi to the country on August 16-17, 2015, mentions the establishment of UAE-India Infrastructure Investment Fund, with the aim of reaching a target of $75 billion to support investment in India’s plans for rapid expansion of next generation infrastructure, especially in railways, ports, roads, airports and industrial corridors and parks.
“The MoU will help establish a transparent and high-level framework and collaboration platform under which both countries intend to explore ways to facilitate and expand the participation of UAE’s investment institutions in appropriate infrastructure projects and institutions in India including NIIF, in a manner consistent with the established investment criteria and standards in a mutually agreed manner,” the statement said.
by admin | May 25, 2021 | Halal Industries
Ohood bint Khalfan Al Roumi, Minister of State for Happiness
Mustafa Al Zarooni /Abu Dhabi
The ministry will have questionnaires – with personal questions – to get acquainted with the needs of the UAE residents.
In a move to bring joy to people from all walks of life, the Ministry of Happiness will have questionnaires – with personal questions such as gender and age – to get acquainted with the needs of the UAE residents and thereby to make their lives more positive.
“After the completion of surveys and studies, the ministry will accordingly begin implementing the projects and programmes this year,” said Ohood bint Khalfan Al Roumi, Minister of State for Happiness, at a meeting with the media.
“The survey is being prepared in coordination with various government sectors like health, housing, commerce and economy, including 50 government entities and 90,000 federal government employees,” she said noting that the private sector corporations and companies will also be included in the survey.
Each entity has a duty to implement the UAE’s happiness agenda, and international reports in this context will be taken into account, she added.
“The Ministry of Happiness will interact with the different ministries, governments and private entities to set up what is known as ‘sustainable happiness’,” she said, adding that a system will be rolled out soon with incentives for the private sector to be applied to its employees.
For Al Roumi, promoting happiness and positivity at government workplaces is a must, because scientific studies show that a happy employee produces twice as much as an unhappy one.
The least happy workers are said to be spending 40 per cent of their time doing what they are there to do, compared with happy workers, who are said to spend 80 per cent of their time on work-related tasks, she noted.
“International indices are important, but the prime objective is to achieve happiness and make not just each and every Emirati, but every expatriate happy as well, and create a positive and inclusive environment,” she said.
Work is underway to upgrade the services of 5,000 government employees working in the customer service sector which will help provide delight and happiness to the public, she added. Other mechanisms will follow and the work environment of employees will be reviewed with an eye towards improving them.
She said the ministry has reviewed several international reports, newspaper reports and reactions to the announcement of the Ministry of Happiness. The ministry has also gone through submitted proposals which have contributed to drawing up a concrete plan.
The ministry, according to her, is endeavoring to shift government work to another level so that employees can lead happier lives and be provided living and financial skills. An employee, she argues, is not merely the holder of a university degree, but is knowledgeable about culture. As an example, she pointed to the Ministry of Health and other health authorities, which not only provides treatment, but also guidance for a healthy and positive lifestyle.
“Any decisions taken will be reviewed for its impact on society and its happiness factor will be considered, and might be amended if found to cause damage to happiness. Some rules and laws will also be reviewed with the aim of improving them and keeping them in line with the new agenda,” she said.
CEOs of Happiness in government departments will be selected from among employees for the post and will be trained to carry out their duties in the most effective way, she noted.
“The duty is not a power, but rather a challenge to change some negative cultures and attitudes and create an atmosphere of positivity for the UAE’s society and for those who are living in the country, along with providing them a suitable environment for their aspirations and suggestions,” she noted.
She added that 29 professors are teaching happiness at Harvard University, 78,000 titles about happiness are being advertised on online retailer Amazon, and 58 talks about happiness on TED, the non-profit organistaion devoted to spreading ideas in the form of short and powerful talks, have been viewed by 100,000,000 people.
At Wednesday’s event, the down-to-earth Al Roumi eschewed the title of Her Excellency, and seemed pleased to face reporters for the first time since being appointed to her post. She appeared before the audience cheerfully and with a smile on her face, and answered all questions posed to her.
“Our cups are always filled with water,” she said, referring to the expression, ‘is the glass half empty or half full?’
Courtesy: malzarooni@khaleejtimes.com
by admin | May 25, 2021 | Muslim World
Ohood Al-Roumi, Director General of UAE Prime Minister’s Office
Dubai, (IINA) – Ohood Al-Roumi, director general of UAE prime minister’s office, will lead the country’s’ attempt to secure happiness for its citizens after being named the country’s first minister of state for happiness, Al-Jazeera reported.
Al-Roumi’s appointment to the position was announced late Wednesday via Twitter by Sheikh Mohammed bin Rashid Al-Maktoum, UAE’s vice president, prime minister, and ruler of Dubai.
“National happiness isn’t a wish. Plans, projects, programs, indices will inform the work of our ministries to achieve happiness,” he wrote on his official Twitter page.
Al-Roumi will also continue serving as the director general of the prime minister’s office, a position she currently occupies.
Along with her roles in the UAE, the UN Foundation selected Al-Roumi last year to be a member of its Global Entrepreneurship Council. She is the first Arab member of the body.
The creation of the new ministerial post was also announced on Twitter on Monday by Sheikh Mohammed, who said the minister would “align and drive government policy to create social good and satisfaction”.
“It is a beginning of a new journey of achievement and giving to the people, and we ask Allah to help us to serve and take care of them”, one of his messages read.
The UAE is currently ranked the 20th on the World Happiness Report in 2015, above the UK and below Belgium.
Switzerland was named the world’s happiest country in 2015, in front of Iceland, Denmark and Norway – with Canada.
The report’s creators singled the UAE out in 2015 for its stated commitment to happiness.
“The National Agenda aims for the UAE to be among the best in the world in the Human Development Index and to be the happiest of all nations so that its citizens feel proud to belong to the UAE”, the UAE’s Vision 2021 plan said.
