Cabinet Approves Draft Law on Endowment

The Cabinet’s weekly regular meeting, chaired by HE the Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani, yesterday morning approved a draft law on endowment.

The draft law was prepared to replace Law No 8 of 1996 on endowment, as part of updating legislation to keep pace with developments in this regard.

The draft law includes provisions related to the establishment of the endowment, its banks and conditions, the civil endowment, and the supervision of the endowment, its maintenance, architecture and investment.

The Cabinet also approved a proposal to amend some provisions of the Labour Law and the law regulating entry and exit of expatriates and their residence, in accordance with the recommendations of the working group formed to study that proposal. The Cabinet approved the proposal of Qatar Financial Market Authority to renew the membership of the chairman and members of the Appeals Committee of the Authority.

The Appeals Committee, established in Qatar Financial Markets Authority and chaired by one of the presidents of the Appeals Court and includes the membership of two Appeals Court judges and two experts in the field of securities dealings, is competent to rule on grievances from the penal decisions issued by the Authority.

Source: Government of Qatar