DUBAI, -- The Committee on Financial, Economic and Industrial Affairs of the Federal National Council (FNC) concluded discussions on the Central Bank of UAE's policy during its second ordinary session of the 16th Legislative Chapter, on Sunday.

The discussions were held at the headquarters of the General Secretariat of the FNC in Dubai, under the chairmanship of Majid Hamad Al Shamsi. The discussions will be taken up by the council.

The committee also discussed a draft federal law concerning the establishment of an insurance authority.

The meeting was attended by Salem Abdullah Al Shamsi, Rapporteur of the Committee, Abdul Aziz Abdullah Al Zaabi, Ahmed Yousef Al Nuaimi, Dr. Mohammed Abdullah Al Mehrazi, and Dr. Saeed Abdullah Al Mutawa.

Al Shamsi said that the final draft of the Central Bank's policy had been discussed and the committee finalised its final report and recommendations on this subject, which will be submitted to the board for inclusion in the FNC meeting's agenda. The committee has made a number of amendments to the draft after exchanging views with its members, he added.

Al Shamsi noted that the committee also concluded the discussions related to a draft federal law to amend some of the provisions of Federal Law No. 6 of 2007 regarding the establishment of an insurance authority and its work.

Source: Emirates News Agency