ABU DHABI // FNC members have asked for a formal procedure to keep them informed of progress with their recommendations.
Members had been told to ask ministers during questioning about the status of recommendations, but the council wants a clear system to be followed.
After months of research, investigation and questioning government bodies, the FNC's committees put together detailed reports that are passed to the appropriate minister. The recommendation can then be passed to the Cabinet if members are not satisfied.
"How do we follow these recommendations?" Dr Abdulrahim Al Shahin, a member from Ras Al Khaimah, asked at last week's session. "We spoke several times to the Government. We want a specific plan."
Most recently, members' proposals on the environment and policies by utilities authorities were agreed to by the Cabinet, but only after a long process.
Rashed Al Shuraiqi, also from RAK, agreed there is a need for clear guidelines.
Mr Al Shuraiqi, who has been in the FNC since 2006, said members researched internationally to ensure recommendations complied with best practices worldwide.
"We have noticed a lot of ministries do not implement recommendations into their strategy," he said. "We want to know if it will be enforced now or later, or if it will be customisation. Will it take a year, or two? These are all things we want to know."
Ali Jassim, of Umm Al Quwain, who has been in the council since 1991, made similar calls in previous sessions and in public.
The matter is being looked at by heads of committee and will go to the FNC for further discussion.
osalem@thenational.ae
UAE currency: the story behind the money in your pockets
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
Rocketman
Director: Dexter Fletcher
Starring: Taron Egerton, Richard Madden, Jamie Bell
Rating: 3 out of 5 stars
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
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UAE currency: the story behind the money in your pockets
