FNC approves draft law on endowments

The Federal National Council, FNC, has approved a draft federal law on endowments, the first of its kind in the Arab region and Islamic world, during the sixth session of the third ordinary session of the FNC’s 16th legislative chapter, held at its headquarters in Abu Dhabi and headed by Dr. Amal Abdullah Al Qubaisi, Speaker of the FNC.

The draft federal law aims to achieve six goals - placing a comprehensive legal framework that complies with modern requirements and the need of communities to organise endowments, managing and protecting them, realising the nation’s vision to strengthen the values of human giving and charity work, providing an environment that will motivate charity work, community participation and social solidarity in all areas of life, boosting the economic growth of endowments developing their sources, and confronting new challenges after a change in administrative and investment procedures.

In her opening speech, Dr. Al Qubaisi stated that the FNC strongly condemns yesterday’s launch of a ballistic missile by the Houthis militias at the Saudi capital, Riyadh.

She stressed that the repetition of such criminal practices reflects the growing risk posed by Iran’s military support to the Houthis militias, through supplying them with ballistic missiles, as well as its indifference to the principles of international legitimacy.

She also highlighted the FNC’s support for the stance of the UAE’s wise leadership to support Saudi Arabia in confronting the threats to its security and stability, because the security of both countries is connected.

The FNC utterly denounces and condemns the terrorist act against a church in the city of Quetta, South-West Pakistan, which caused death and injury to many innocent victims, she added while stressing that victory over terrorism in certain countries or regions does not mean the end of the war against terrorist organisations and extremist ideologies, which require continuous efforts to combat, eliminate their roots and dry up their sources of funding and support.

"Today, we held our sixth session, which is the final session of the Year of Giving 2017. I wish you all a new year full of goodness, giving and health. This is the year when significant progress and accomplishments were achieved, which crowned and showcased the good and noble goals of the year, as initiatives continued to be created by a wise leadership full of vision and will, reflecting the consolidation of the culture of giving and its establishment in our good land," Dr. Al Qubaisi said.

"As giving is an integral part of our culture, values and principles, we have faith in continuing our giving, especially as we bid the Year of Giving farewell and receive the year of the pioneer of giving during the ‘Year of Zayed,’ which will be full of giving and where we will raise and establish the values and noble humanitarian and civilised principles of the founding leader, the late Sheikh Zayed bin Sultan Al Nahyan, which our world require at this time more than ever," she said in conclusion.