Emirati Times
  • Home
  • Gulf General
    • Achievements
  • World
  • Business
    • Realestate
    • Entertainment
    • Travel
    • Lifestyle
    • Finance
  • Technology
  • Sports
  • Contact Us

Subscribe us to:

Get Reliable News, Views, Updates from the GULF and various DISCOUNT Coupons

What's Hot

ENOC wins cricket competition title of 4th Labor Sports Tournament

Mar 29, 2023

Etihad Airways begins flight service to Beijing Daxing Airport

Mar 29, 2023

EU Ambassadors visit Jubail Mangrove Park in Abu Dhabi

Mar 29, 2023
Facebook Twitter Instagram LinkedIn
Facebook Twitter Instagram LinkedIn
Emirati Times
Subscribe Login
  • Home
  • Gulf General
    1. Achievements
    2. View All

    WJMES showcases magnificent designs for its visitors

    Mar 11, 2023

    UAE ranks 3rd globally in Digital Government Accelerating GCC Journey

    Feb 2, 2023

    Sheikh Zayed Festival receives 4 Guinness World Records welcoming 2023 New Year

    Jan 2, 2023

    Emirates Health Services receives International CSR Excellence Awards

    Dec 16, 2022

    ENOC wins cricket competition title of 4th Labor Sports Tournament

    Mar 29, 2023

    Etihad Airways begins flight service to Beijing Daxing Airport

    Mar 29, 2023

    EU Ambassadors visit Jubail Mangrove Park in Abu Dhabi

    Mar 29, 2023

    American University in Dubai team wins EGA’s Al Robot competition

    Mar 29, 2023
  • World
  • Business
    1. Realestate
    2. Entertainment
    3. Travel
    4. Lifestyle
    5. Finance
    6. View All

    The Arbour by India’s DLF registers $1bn worth of pre-launch sales in 3 days

    Mar 27, 2023

    1st NH Collection hotel to launch in Palm Jumeirah in February 2023

    Jan 2, 2023

    UAE expands non-oil sector to spur real estate growth; ZāZEN Properties

    Dec 27, 2022

    Renowned property consultants LH1 Global establish international office in Dubai

    Nov 16, 2022

    Manar Mall offers magical outdoor cinema experience for Ras Al Khaimah residents

    Mar 10, 2023

    Doha Film Institute announces captivating projects for Qumra 2023

    Mar 2, 2023

    ‘Sharjah Biennial 15’ to commence on February 2023 with over 150 artists

    Jan 13, 2023

    Abu Dhabi Moments to kick offs its winter festival with captivating activities & events

    Dec 23, 2022

    Costa Toscana arrives at Dubai for its inaugural season in middle east

    Dec 17, 2022

    Emirates simplifies check-in procedures in Dubai

    Nov 15, 2022

    Dubai Airport announces No Baggage Allowance for match-day shuttle flights

    Nov 15, 2022

    Abu Dhabi Airports to eyes Sectoral growth with new Brand Identity

    Oct 28, 2022

    Dubai Science Park launches campaign on colon cancer awareness

    Mar 21, 2023

    MBZUAI & IBT collaborate to develop brain & mental disorder treatments

    Mar 20, 2023

    Al Dhafra Hospitals’ doctors use laparoscopic approach to treat complete rectal prolapse

    Mar 15, 2023

    Cleveland Clinic experts to ascertain prevalence of keratoconus in UAE

    Feb 27, 2023

    ITB FX unveils FOREX trading services to prospective Traders & Investors in MENA

    Mar 9, 2023

    Best Times of Day to Trade Forex

    Jan 24, 2023

    Things You Can Learn as a Forex Trader

    Jan 18, 2023

    UAE delegates participates in First Framework Working Group meeting

    Dec 17, 2022

    The Arbour by India’s DLF registers $1bn worth of pre-launch sales in 3 days

    Mar 27, 2023

    Aldar Properties launches ‘The Source’ apartments at Saadiyat Grove

    Mar 27, 2023

    Emirates to launch first superjumbo service to Bali

    Mar 24, 2023

    Dubai Science Park launches campaign on colon cancer awareness

    Mar 21, 2023
  • Technology

    Dubai hosts Huawei Cloud Summit Middle East & Africa 2023

    Mar 22, 2023

    Abu Dhabi DMT launches Al Nalia App to ensure safe maritime navigation

    Mar 20, 2023

    Ignite Spotlight technology event kicks off in Dubai for IT enthusiast

    Mar 9, 2023

    RedSea brings award-winning desert greenhouse facility to Abu Dhabi

    Mar 1, 2023

    EDGE to bring advanced technology & unmanned systems at IDEX 2023

    Feb 8, 2023
  • Sports

    ENOC wins cricket competition title of 4th Labor Sports Tournament

    Mar 29, 2023

    Abu Dhabi to host global sporting event Masters Games Series

    Mar 23, 2023

    UAE to host FIFA Beach Soccer World Cup 2024

    Mar 15, 2023

    UAE’s Pogačar shines again at Paris-Nice

    Mar 13, 2023

    Barbora Krejcikova wins Dubai Duty Free Tennis Championship women’s singles

    Feb 26, 2023
  • Contact Us
Emirati Times
Home » Dubai Crown Prince alters Resolution on payment of outstanding public funds by installments

Dubai Crown Prince alters Resolution on payment of outstanding public funds by installments

As per the amendment made, if an applicant cannot make the minimum payment of 25 percent of the outstanding amount before applying for the payment by installments, the head of the government entity or their authorized representative may reduce the minimum payment after reviewing the reasons behind the request.
Desk ReporterBy Desk ReporterAug 17, 2022
Facebook Twitter LinkedIn WhatsApp
Sheikh Hamdan_Dubai Finance Department Amendment
Share
Facebook Twitter LinkedIn WhatsApp

Dubai: The Crown Prince of Dubai and Chairman of The Executive Council of Dubai, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has issued Executive Council Resolution No. (53) of 2022 which amends Article No. (25) of Executive Council Resolution No. (5) of 2021, which pertains to Executive Regulation of Law No. (1) of 2016 on the Financial Regulations of the Government of Dubai.

ARTICLE RELATED TO PUBLIC FUND PAYMENTS

Article No. (25) of Executive Council Resolution No. (5) of 2021 discusses about payment of outstanding public funds by installments, where the head of a government entity or their authorized representative has the authority to allow payment by installments of any public funds outlined in a list submitted by such entity to the Department of Finance (DoF).

Dubai Finance Department Amendment
Representational Image

The Resolution states that, payment of public funds by installments is subject to several conditions, including:

  • Public funds must be due by the date on which the application for payment by installment is submitted and
  • the amount of public funds to be paid by installments must not be less than the minimum amount prescribed by the DoF.

Moreover, the applicant is expected to prove their inability to pay the total outstanding amounts in one payment. The applicant must also make an initial payment of at least 25 percent of the outstanding amount of public funds requested to be paid by installments.

Dubai Finance Department Amendment
Representational Image

THE AMENDMENT

As per the amendment made, if an applicant cannot make the minimum payment of 25 percent of the outstanding amount before applying for the payment by installments, the head of the government entity or their authorized representative may reduce the minimum payment after reviewing the reasons behind the request.

Dubai Finance Department Amendment
Representational Image

Meanwhile, other related conditions which would remain unaffected would be;

  • The installment period must not exceed five years, or the period in which the public funds are due, whichever is shorter
  • Installments must be paid by bank cheques or by providing other guarantees or security as prescribed by the DoF.
  • Any other conditions set by the DoF must be satisfied

The new Resolution reveals that an applicant for payment by installments must, within 15 days from being notified of the decision approving the application for payment by installments, submit the guarantees or security prescribed by the DoF in respect of the total outstanding amounts.

Dubai Finance Department Amendment _ Dubai Logo

The guarantees or security must be valid throughout the installment period, until full payment is made.

If an applicant fails to pay the installments by the prescribed deadlines, the decision approving the application for payment by installments will be deemed null and void.

The Resolution shall be effective from the date of its publication in the Official Gazette.

GULF GENERAL: The majestic history behind the Emirati Flag

Dubai Crown Prince Dubai Outstanding Public Fund Dubai Public Fund Outstanding Dubai Financial Regulations Dubai Finance Department Dubai Finance Department Amendment Dubai Department of Finance
Share. Facebook Twitter LinkedIn WhatsApp
Previous ArticleAbu Dhabi Agriculture and Food Safety Authority honors outstanding farmers
Next Article UAE’s premier institution, MBZUAI concludes 2nd Edition of its Executive Program
Desk Reporter
Desk Reporter

The above news/article was published by a desk reporter at Emirati Times who sourced, compiled, and corroborated this content. For any queries or complaints on the published material, please get in touch through WhatsApp on +971 5060 12456 or via Mail (at) Emirati Times (dot) com

Fresh News

ENOC wins cricket competition title of 4th Labor Sports Tournament

Mar 29, 2023

Etihad Airways begins flight service to Beijing Daxing Airport

Mar 29, 2023

EU Ambassadors visit Jubail Mangrove Park in Abu Dhabi

Mar 29, 2023

American University in Dubai team wins EGA’s Al Robot competition

Mar 29, 2023
Add A Comment

Comments are closed.

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn

Knowledgeable

Climate change causes increase fog in UAE; Study

UAE women retire with just 69% of wealth earned by men; WTW Study

Center for Philosophical Studies at MBZUH organizes its 1st event

Dubai KHDA reveals mandatory assessment for students

Don't Miss It

Don't Miss It

Luxury automaker EXEED grabs attention by offering differentiated after-sales services

By News DeskFeb 3, 2023

Abu Dhabi: The luxury car brand EXEED, which is deeply engaged with high-end customers, has…

EXEED gains unparalleled attention with its extensive Middle East expansion

Jan 22, 2023

UAE women retire with just 69% of wealth earned by men; WTW Study

Nov 18, 2022

Dubai set to host 2nd Edition of Healthcare Future Summit from Nov 12

Nov 8, 2022

Curious News

Want to buy ‘The Conjuring’ house? It will cost you $1.2mn

A formula for the perfect shape of an Egg? Its not a joke

Cuttlefishes have better memory than Human? Studies suggest so

Subscribe us to:

Get Reliable News, Views, Updates from the GULF and various DISCOUNT Coupons

About Us
About Us

Online since 2011, Emirati Times, the 'Online Media Brand Name' offers credible & unbiased news, updates to the Gulf with fact-based reporting at its core.

Owned and Operated by Consultfull, the portal is a sister concern of GCC Business News and Britain Herald. For inquiries about Media Partnerships, Investment and other opportunities in line with our Editorial Policy, please contact us at;

Email Us: Mail@EmiratiTimes.com
Whatsapp: +971 5060 12456

Knowledgeable

Climate change causes increase fog in UAE; Study

Dec 5, 2022

UAE women retire with just 69% of wealth earned by men; WTW Study

Nov 18, 2022

Center for Philosophical Studies at MBZUH organizes its 1st event

Nov 15, 2022
Facebook Twitter Instagram LinkedIn
  • Home
  • Editors’ Choice
  • Business
  • Technology
  • Contact Us
Privacy & Cookies Policy | Terms & Conditions
© 2023 EmiratiTimes.com, An Initiative by Consultfull

Type above and press Enter to search. Press Esc to cancel.

Sign In or Register

Welcome Back!

Login to your account below.

Lost password?