Author: sarah glubbWed, 2018-06-27 19:10ID: 1530116036489641300
JEDDAH: The Shoura Council approved a number of resolutions pertaining to the annual report of the Ministry of Defense for the fiscal year 1437/1438 AH, which supports the efforts of the Ministry and its plans to develop its employees and various sectors.
This came on Tuesday during the work of the Councils 44th ordinary session of the second year of the seventh session held under the chairmanship of the president of the council, Sheikh Abdullah Al-Mahtani.
The council has also approved another resolution concerning the draft regulations against fraud and breach of trust. The draft law deals with criminal offenses relating to companies listed on the Saudi stock market overseen by the Capital Market Authority for crimes of forgery or falsification of documents or provision of false or misleading financial statements. The draft law also includes developing mechanisms to address this issue, as well as defining the role of each entity in this regard.
The draft law consists of 14 articles and aims to combat all types of fraud, in addition to destroying money and squandering it on purpose.
On the other hand, the Council has also approved the draft regulations for imams and muezzins in the Grand Mosque.
The Regulations consist of 30 articles and aim to organize the affairs of imams and muezzins in the Grand Mosque, and determining their rights, duties and responsibilities.
The council has also requested Saudi Customs to activate the Authorized Economic Operator program adopted by the World Customs Organization, and to include in their reports the volume of adulterated goods imported in the Saudi market through coordination with other government agencies.
The council then discussed the report of the Committee on Economics and Energy on the annual report of the King Abdullah City for Atomic and Renewable Energy for the year 1437/1438 AH.
In its recommendations to the council, the committee called on the King Abdullah City for Atomic and Renewable Energy to set fourth mechanisms and funding organizations encouraging the private sector to invest in the field of nuclear energy and maximizing local content in their projects, in collaboration with the banking sector and government lending funds.
The committee has also urged King Abdullah City for Atomic and Renewable Energy to work with stakeholders to identify local reserves of uranium ore and their exploitation to meet domestic demand in the future.
The committee also called for the city to address challenges of infrastructure necessary for the implementation of the solar energy project to be constructed with SoftBank Vision Fund, and passing the appropriate legislation to make it more competitive. The committee also urged the city to include in its future reports a timeframe for its plans, performance indicators for its strategy, and completion rates of the atomic and renewable energy programs.
Main category: Saudi Arabia