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Qatar approves draft law on bankruptcy


Government | 2017/04/28 at 8:00 AM | 81 Views

The State Cabinet approved a draft law on corporate bankruptcy and prevention at an ordinary session chaired by Prime Minister and Interior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani yesterday.



The Ministry of Economy and Commerce prepared the draft law aiming at improving the investment environment in the state.

The law aims at developing a detailed regulation of the provisions of corporate bankruptcy and prevention, taking into account international standards in this regard.

The Cabinet also approved a draft law regulating competition and its draft executive regulation.

The draft law was prepared to replace Law No. (19) of 2006 on the protection of competition and the prevention of monopolistic practices, as part of the modernization of legislation to keep pace with developments.

Following the meeting, Deputy Prime Minister and Minister of State for Cabinet Affairs H E Ahmed bin Abdullah bin Zaid Al Mahmoud stated that the Cabinet expressed its sincere thanks and appreciation to the Emir H H Sheikh Tamim bin Hamad Al Thani for his huge efforts and sound guidance which resulted in releasing the Qatari citizens kidnapped in Iraq and their safe return to homeland.

Then, the Cabinet reviewed topics on the meeting’s agenda.

The Cabinet approved to accede to the Charter of Conference on Interaction and Confidence-Building Measures in Asia (CICA).

Meanwhile, the Cabinet approved a draft MoU for cooperation in the field of youth between the Government of the State of Qatar and the Council of Ministers of the Republic of Bosnia and Herzegovina, and a draft MoU for cooperation in exchanging financial investigation between Qatar Financial Information Unit and the Financial Intelligence Unit of Sri Lanka.

The Cabinet reviewed a letter of the Minister of Economy and Commerce on the results of the first session of the Qatari-Kyrgyz Joint Committee for Economic, Commercial and Technical Cooperation (Doha, March 2017).

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