MoE’s Laws and Regulations

Pursuant to the provisions of this law, the Financial Restructuring Committee was formed, which comprises nine members and is chaired by the ministry undersecretary, with the membership of representatives of the following entities: the Ministry of Finance, the Ministry of Economy, the Ministry of Justice, the Central Bank of the UAE, the Securities and Commodities Authority, Abu Dhabi Government, Dubai Government and Sharjah Government. The committee is primarily mandated with overseeing the management of financial restructuring procedures relating to financial institutions, approving a list of financial restructuring and insolvency experts to perform any tasks assigned to them pursuant to the insolvency law, creating and maintaining a registry of persons against whom judicial rulings are issued, submitting periodic reports to the minister on the committee’s function, accomplishments and propositions; as well as organising and endorsing initiatives that promote public awareness of the insolvency law and its objectives.