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Constitutional Changes Progressive, Say Business Leaders

DUBAI — The constitutional amendments approved by the Federal Supreme Council will help enhance transparency and accountability, according to business leaders.

They believe the reforms were aimed at achieving the government’s goal of higher efficiency and transparency in governance and public life. The changes also seek to transform the Federal National Council into a full-fledged legislative house.

Article 91 stipulates that the Government shall notify the FNC of the international agreements and conventions accompanied by a clarification to debate them before ratification.

Following are comments made by a cross-section of prominent businessmen.

Sultan bin Saud Al Qassimi, Chairman Barjeel Securities: “The constitutional amendments should be seen as a first step in the effort to improve corporate governance in the UAE. The UAE leadership must be lauded for this step and encouraged by the business community to take even further steps to achieve higher standards of corporate governance. Federal ministers who have other responsibilities such as family businesses or local government positions should ideally allocate their efforts in one single stream. The UAE now has a wider pool of educated men and women who can serve in the federal government without the burden of multiple roles that can dilute their attention or pose as possible conflict of interest scenarios.”

Sunny Varkey, Founder & Chairman, Global Education Management Systems: “The latest amendments to the constitution, announced to mark the 37^th anniversary of the foundation of the UAE, will help tighten up corporate governance standards. The far-ranging amendments, covering six articles of the UAE Constitution, also seek to expand the role of the Federal National Council (FNC) in move to allow it to make recommendations to the government on international and domestic affairs. The extension of the tenure of FNC members from two to four years is also a very positive reform. These key changes will certainly help transform FNC into a full-fledged legislative house that will facilitate the smooth functioning of the Government.”

Dr Ram Buxani, Executive Vice Chairman, ITL Group: “The Federal Supreme Council’s landmark approval for the key amendments to the UAE constitution is to be seen as a great step forward taken by the pragmatic and visionary Rulers of this great nation. The Rulers have sent a message to the whole world that even the royalty and ministers are no different from others when it comes to a common code of conduct and rules of governance. The amendments also signify UAE’s keen desire for reforms to keep pace with the changing times. The extension of the tenure of the Federal National Council from two to four years will enable the legislature to work more efficiently for the welfare of the nation and its economic growth. With these key changes, the UAE is sending a clear message to the whole world that it would continue to strive to achieve higher standards of governance and discipline in public life.”

B.R. Shetty, managing Director of NMC Group: “The Federal Supreme Council’s approval on Tuesday for the constitutional amendments will help empower the legislative branch of government and enhance transparency and accountability of public administration. The amendments are in line with the aspirations of the visionary leadership and citizens of this great nation which is marking its 37^th anniversary. According to the amended Article 91, The Government shall notify the Federal National Council of the international agreements and conventions accompanied by a clarification to debate them before ratification. The reforms will help the nation in its march forward as one of the most progressive and liberal economies in the world and also in attaining higher governance standards.” -

issacjohn@khaleejtimes.com