Politics Country October 29, 2024

UAE Finance Ministry Announces New Law Changes

The Ministry of Finance has announced the issuance of Federal Decree-Law No. 17 of 2024, amending certain provisions of Federal Decree-Law No. 28 of 2022.


UAE Finance Ministry Announces New Law Changes

The Ministry of Finance announced the adoption of Federal Law No. 17 of 2024 on amendments to certain provisions of Federal Law No. 28 of 2022.

According to the new law, the amendments are aimed at improving the effectiveness of the previous legislation with the goal of enhancing its effectiveness. These amendments are designed to ensure more effective functioning of the financial system and to update regulatory norms. It is important to note that these amendments are aimed at improving the economic situation in general and stimulating economic growth in the country.

One of the key elements of the new legislation is strengthening control over financial operations and increasing the level of responsibility for violations of financial regulations. This step is aimed at preventing financial fraud and ensuring transparency of financial operations.

In this regard, the Ministry of Finance calls on all interested parties to pay attention to these amendments and strictly comply with the new rules to ensure compliance with the legislation and contribute to the development of the financial system as a whole.