Shura Council approves draft law on mortgaging movable funds

Shura Council approves draft law on mortgaging movable funds

By QLNews

Under the chairmanship of HE the Speaker Ahmed bin Abdullah bin Zaid Al Mahmoud, the Shura Council held its regular meeting via video conference at the Council’s headquarters.

During the meeting, the council discussed the report of the Financial and Economic Affairs Committee on the draft law on mortgaging movable funds.

The draft law includes 9 chapters and 49 articles, which aims to give companies and individuals the opportunity to acquire bank loans guaranteed by mortgaged movables such as equipment, work tools, all kinds of devices, agricultural crops, animals and their products, and intellectual rights.

In addition to supporting small and medium-sized enterprises which play a major role in enhancing the economy of Qatar, it will facilitate financing operations and lowering the cost of loans by finding guarantees for banks that reduce the risk of default.

The draft law also includes provisions related to the scope of application, establishing an electronic record at the Qatar Central Securities Depository (QCSD) and data needed to be recorded, establishing the right to mortgage and its entry into force, establishing the rights of mortgagee and sanctions along with general provisions.

After an extensive discussion, the Council recommended amending two articles of the aforementioned draft law and decided to approve it in its amended form and to refer the Council's recommendations regarding it to the esteemed government.

Moreover, the report of the Information and Cultural Affairs Committee Cultural Affairs and Information Committee on the conditions of Qatar University (QU) was reviewed during the session.

After an extensive discussion, the Council approved a number of recommendations within six axes.

In the axis of university education, the council recommended enabling public education graduates to join Qatar University through reviewing the admission rates required by university colleges.

Furthermore, it was advised that the scientific ties and cooperation between Qatar University and other distinguished universities in the country and abroad be strengthened and create the university enrolment or distance education system for Qatari employees according to the principles set by the university.

In the axis of scientific research, the council had advised drawing up scientific research programs that would provide university students with scientific expertise and capabilities that would enable them to smartly deal with modern requirements and rapid changes, in addition to paying attention to scientific research.

These scientific research programs must also work closely and strengthen relational ties with national scientific research centers and world-leading centers in the field of research and studies.

When focusing on the educational staff axis, the council advised working towards attracting cadres of Qatari males and females to join the educational staff at Qatar University.

This will expand opportunities for qualified Qatari students who wish to enroll in postgraduate programs and obtain master’s and doctoral degrees, further encouraging Qatari academics to remain in the education staff at Qatar University.

In the axis of institutional excellence, the Council recommended strengthening the legal, financial and administrative independence, which would create a distinct academic environment for Qatar University and emphasizing coordination, integration, and interdependence between educational institutions, which would provide efforts and activities and prevent duplication.

Recommendations in this axis included enhancing the involvement of civil community organizations with a role in the university by setting up a specific platform within Qatar University to create a continuous and direct link between community institutions and the university, as well as creating an effective mechanism that enables students to communicate with academic advisors and administrative staff to solve the academic and administrative problems, they face during their university studies.

On the national labor market axis, the council recommended adherence to Qatar National Vision and Development Strategy to support and provide the national economy with the specializations of the knowledge economy and coordinate with the government and private sector on the required academic majors annually, in terms of quantity and quality, besides the public and private sectors benefit from the capabilities of Qatar University as a house of expertise.

Regarding the promotion of values, principles, and ethics axis, the recommendations of the Shura Council called for taking into account the orientations, ideas, and backgrounds of faculty members before contracting them to work at the university by evaluating these academic cadres, as well as the need to respect societal values, with emphasis on compulsory courses in Islamic culture and the Arabic language and introducing university courses that reinforce national identity and social responsibility that achieves behavioral discipline and good moral values.

The council also recommended, in case there are vacancies at the university, to increase the scholarships for distinguished students from Arab and Islamic countries to study at Qatar University and its colleges and providing the necessary supplies to those in need to continue their studies, the matter that contributes to strengthening the cultural relations and ties between the countries and peoples and considering the possibility of establishing a charitable fund at the university to achieve this purpose.

The Council had agreed to refer these recommendations to the competent authorities after an extensive discussion. 

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Cover, Inline Images Credit and Source: QNA

 

 

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