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In effectCabinet Resolution

UAE Labour / Employment LawCabinet Resolution No. (22) of 2020 Regarding Refunding Bank and Financial Guarantees Given to the Ministry of Human Resources and Emiratization

UAE Cabinet Resolution·Cabinet Resolution No. (22) of 2020

قرار مجلس الوزراء بشأن رد الضمانات المصرفية والمالية المقدمة لوزارة الموارد البشرية والتوطين

Authoritative Arabic version per the official UAE Legislation portal

Issued Date
March 31, 2020
Effective from
April 1, 2020
Articles
3
Last synced
Jul 20, 2026
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Plain-language summary

Establishes procedures for refunding bank and financial guarantees previously submitted to the Ministry of Human Resources and Emiratization under specified con…

Synced from the official UAE Legislation portal · Plain-language summary by the LEXAI editorial team

Article-level text

Key Articles

3 articles

  1. 1

    Article 1

    Article (1) Definitions For the purpose of this Resolution the following words and expressions shall have the meanings assigned there, unless otherwise provided, to as follows: The State : The United Arab Emirates The Ministry : Ministry of Human Resources and Emiratization The Central Bank : The Central Bank of the UAE

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    Cabinet Resolution of 2020 Regarding Refunding Bank and Financial Guarantees Given to the Ministry of Hu- man Resources and Emiratization 2

  2. 2

    Article 2

    Article (2) Refunding of the Banking and Financial Guarantees The Ministry shall refund 50% of the value of the banking and financial guarantees provided thereto, to those who provided them, in accordance with the procedures and rules regulating this matter, in coordination with the Ministry of Finance and the Central Bank.

  3. 3

    Article 3

    Article (3) Publication and Entry into Force This Resolution shall be published in the Official Gazette and shall enter into force as of 1/4/2020. Mohammed bin Rashid Al Maktoum Prime Minister Issued by Us On 7 Shaban 1441 (AH) Corresponding to 31 March 2020 (AD)

    -- 2 of 2 --

Note: The Arabic text of this legislation is the authoritative version as per the official UAE Legislation portal.

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