In his capacity as Chairman of The Executive Council of Dubai, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and Deputy Prime Minister and Minister of Defence of the UAE, has issued Executive Council Resolution No. (101) of 2024 approving measures to flag foreign banks found to be in breach of administrative guidelines while operating in the emirate of Dubai and stipulating penalties for such violations. The resolution, which specifies administrative violations and applicable fines for foreign banks, aims to enhance compliance among banking sector institutions by establishing robust standards for responsible governance within the banking system. The resolution will be published in the Official Gazette and will be effective from the date of its publication.

- Committee specialises in approving the timeline and stages of transferring commercial control tasks and operations from regulatory bodies to the Dubai Corporation for Consumer Protection and Fair Trade In his capacity as Chairman of the Executive Council of Dubai, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence of the UAE, has issued Executive Council Resolution No. (99) of 2024, forming the Steering Committee for Overseeing the Transfer of Commercial Control Operations in the Emirate of Dubai. The resolution stipulates the formation of an interim committee called the ‘Steering Committee for Overseeing the Transfer of Commercial Control Operations in the Emirate of Dubai’, chaired by the Secretary-General of the Supreme Legislation Committee. Members include: a representative from the Department of Finance, a representative from the Dubai Government Human Resources Department, the CEO of Dubai Corporation for Consumer Protection and Fair Trade, the CEO of the Regulatory Policies and Governance Sector and the CEO of the Legislation and Disputes Sector at the Department of Economy and Tourism in Dubai, and a representative from the government entity authorised under current legislation to carry out commercial control activities in Dubai.

President His Highness Sheikh Mohamed bin Zayed Al Nahyan received H.H. Sheikh Mohammed bin Rashid bin Mohammed bin Rashid Al Maktoum in the presence of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence. His Highness the President congratulated him on recently graduating from the Royal Military Academy Sandhurst in the United Kingdom, as well as receiving the Sword of Honour for international students and first place in academic and applied military studies, thereby becoming the first Emirati graduate to be granted both honours. During the meeting, which took place at Qasr Al Bahr in Abu Dhabi, His Highness the President expressed his pride in H.H. Sheikh Mohammed bin Rashid bin Mohammed bin Rashid Al Maktoum and all Emiratis who represent the country and its youth through their diligence and perseverance, noting that his achievements affirm the ability of Emirati youth to excel academically and professionally. Furthermore, His Highness the President wished him success in serving his country. In turn, H.H. Sheikh Mohammed bin Rashid bin Mohammed bin Rashid Al Maktoum conveyed his gratitude to His Highness the President, underscoring that His Highness’ remarks encourage him to strive for continued success. The meeting was attended by H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of ...