H.H. Sheikh Mohammed issues public-interest entity decree

WAM

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued a decree subjecting public-interest entities to the regulatory supervision and control of Dubai’s Community Development Authority.

According to the Decree, the Director General of the Community Development Authority (CDA) will issue a decision about the scope of the Authority’s regulatory oversight of the entities, which includes sources of the entity’s funding and income and the nature of their expenditure.

Public-interest entities will required to maintain up-to-date financial and administrative records so that the Authority can review them when needed. The entity should adhere to transparency standards and appoint an external auditor to audit its finances.

Public-interest entities should adhere to the provisions of the Decree and cooperate with the CDA to enable it to perform its regulatory functions.

If any entity fails to adhere to the provisions, the Director General of the CDA is authorised to take action which may include disciplinary procedures as per the Law Regulating Civil Society Organisations in Dubai. The Authority can also issue recommendations to relevant authorities to dissolve the entity.

According to the Decree, all government entities must cooperate with the Community Development Authority in Dubai and provide the information and documents necessary for the Authority to perform its duties, as per the Law Regulating Civil Society Organisations in Dubai, and the new Decree and decisions issued upon it.

More from Business

Coming Up on Dubai Eye

  • Extra Time

    7:00pm - 8:00pm

    Chris & Robbie bring you the latest from the sporting world plus interviews with upcoming and legendary sporting stars.

  • The Night Shift with Mark Lloyd

    8:00pm - 11:00pm

    Musicians and music, entertainers and entertainment, industry gossip and songs selected by you, get ready to bring your night time to life! Every evening from eight, Mark Lloyd brings you an energetic mix of local and international content and contests, featuring an array of celebrity interviews and entertaining anecdotes. Get involved in the show and pick your favourite jukebox hits, every night from 8pm - 11pm.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Flying Taxis

    It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.

  • Tough penalties for deliberate tax evasion

    The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.