Mohammed bin Rashid issues Law on Knowledge Fund

      Published on Wednesday, 8 November , 2017      37 Views     
Mohammed bin Rashid issues Law on Knowledge Fund


His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has issued Law No. 16 of 2017 on the objectives, authorities, responsibilities and organisational structure of Dubai’s Knowledge Fund.



The Law aims to support Dubai’s vision for the education sector in line with approved policies and strategic plans, and help secure funds for educational initiatives and projects in Dubai and enhance assets and investments in the sector.

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, also issued the Executive Council’s Resolution No. 59 of 2017 forming the Board of the Knowledge Fund where Ahmad Abdulkarim Julfar chairs the new Board.

Members of the Board include a representative from Investment Corporation of Dubai, Knowledge and Human Development Authority, the General Secretariat of Dubai Executive Council and Dubai’s Department of Finance, in addition to Anisa Mohammed Al Shareef and the CEO of the Knowledge Fund.

Pursuant to Law No. 16 of 2017, the Knowledge Fund is responsible for managing and investing allocated funds and assets according to policies approved by the Board.

The fund is authorised to establish private businesses, enter joint ventures, launch education projects, invest in existing education enterprises and allocate land for education-related projects. The Law also prescribes the procedures for the formation and the responsibilities of the Board of the Knowledge Fund.

The Board of the Knowledge Fund is authorised to issue policies and procedures required to implement this Law.

The Law replaces Law No. 9 of 2010 on Dubai’s Knowledge Fund and annuls any other legislation that contradicts or challenges its articles.

The Law and Resolution both will be published in the Official Gazette and are valid from the date of publication.



http://wam.ae/

Keywords:
Category Emir | 2017/11/08 latest update at 5:23 PM
Source : | Photocredit :
38 Views
Comments Add comment



Related Articles

The editorial staff of Dubai Today would like to give all of its readers from Gulf and Dubai and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Dubai Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Dubai, the Gulf and the world.


Shaikh Mohammad inspects progress of Dubai Future Foundation project Emir

Shaikh Mohammad inspects progress of Dubai Future Foundation project

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of…

HH Sheikh Mohammed Bin Rashid Al Maktoum Emir

HH Sheikh Mohammed Bin Rashid Al Maktoum

HH Sheikh Mohammed Bin Rashid Al Maktoum

HH Sheikh Mohammed Bin Rashid Al Maktoum Emir

HH Sheikh Mohammed Bin Rashid Al Maktoum

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid…

HH Sheikh Mohammed Bin Rashid Al Maktoum Emir

HH Sheikh Mohammed Bin Rashid Al Maktoum

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid…

GULF TV

Popular in GULF TV

Freelancing in the UAE region

5402 Views

The global freelancing market is set to grow $20bn by 2020. Where does the market stand here in…

Latest videos in GULF TV

117 Views

Dubai in Motion 4K

Events

Lifestyle

Culture

Sport

Science & Technology

Government