Younis Haji Al Khouri, the undersecretary of the Ministry of Finance has said the Ministerial Council for Services had issued the decision, authorising the Ministry of Finance to study how best to implement the bankruptcy law in line with the UAE strategy 2021.
He added the ministry had surveyed the opinions of competent authorities in this respect.
Al Khouri told Abu Dhabi TV in an interview that the new draft law was prepared two years ago, noting that the main point in the new draft law is the issuance of a decision by the Council of Ministers to form a committee, which will include an expert listed in the Ministry of Justice.
WAM | UAE bankruptcy draft law on anvil
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