A + A A -
Home Page >> News >> Shura Council Approves Draft Law on Mortgaging Movable Funds in its Amended Form, Refers Recommendations on QU Strategy to Competent Authorities >>

Shura Council Approves Draft Law on Mortgaging Movable Funds in its Amended Form, Refers Recommendations on QU Strategy to Competent Authorities

22 March 2021

  • newsimage
  • newsimage
  • newsimage

The Shura Council held its regular weekly meeting, via video conference on Monday, under the chairmanship of HE the Speaker Ahmed bin Abdullah bin Zaid Al Mahmoud, at the Council's headquarters.

At the outset of the meeting, the Council discussed the report of the Financial and Economic Affairs Committee on the draft law on mortgaging movable funds .The draft law includes 9 chapters and 49 articles, which aims to give companies and individuals the opportunity to acquire bank loans guaranteed by mortgaged movables such as equipment, work tools, all kinds of devices, agricultural crops, animals and their products and intellectual rights.

It also aims to facilitate financing operations and lowering the cost of loans by finding guarantees for banks that reduce the risk of default. The move will benefit small and medium-sized enterprises in playing a major role in enhancing the local economy.

The draft law also includes provisions related to the scope of application, establishing an electronic record at the Qatar Central Securities Depository (QCSD) and data needed to be recorded, establishing the right to mortgage and its entry into force, establishing the rights of mortgagee and sanctions along with general provisions.

After an extensive discussion, the Council recommended amending two articles of the aforementioned draft law, and decided to approve it in its amended form and to refer the Council's recommendations regarding it to the esteemed government.

During the session, the Shura Council reviewed the report of the Information and Cultural Affairs Committee Cultural Affairs and Information Committee on the conditions of Qatar University (QU) in light of the QU's strategy and future plans presented by HE QU President before the Shura Council in its session on Jan. 25, 2021.

After an extensive discussion, the Council approved a number of recommendations within six axes:

In the axis of university education, the council recommended enabling public education graduates to join Qatar University through reviewing the admission rates required by university colleges. It also recommended strengthening scientific ties and cooperation between Qatar University and other distinguished universities in the country and abroad and creating the university enrolment or distance education system for Qatari employees according to the principles set by the university.

In the axis of scientific research, the Council recommended preparing scientific research programs that would provide university students with scientific expertise and capabilities that would enable them to smartly deal with modern requirements and rapid changes, in addition to paying attention to the scientific research, and to strengthen cooperation ties with national scientific research centers and world leading centers in the field of research and studies.

Regarding the educational staff axis, the Shura Council recommended working to attract national cadres from Qatari mates and females to join the educational staff at Qatar University, expanding opportunities for qualified Qatari students wishing to enroll in postgraduate programs to obtain master's and doctoral degrees, encouraging and motivating Qatari academics to remain in the educational staff at Qatar University and benefit from their academic contributions even after their retirement, benefiting from the national expertise with competence and distinction from the holders of the academic qualifications who work in public and private sector in a way that contributes to the link between academic skills and applied experience and considering the possibility of allowing Qataris who hold master's and doctoral degrees from Qatar University to join the university's faculty.

In the axis of institutional excellence, the Council recommended strengthening the legal, financial and administrative independence, which would create a distinct academic environment for Qatar University and emphasizing on coordination, integration and interdependence between educational institutions, which would provide efforts and activities and prevent duplication.

Recommendations in this axis included enhancing the involvement of civil community organizations with a role in the university by setting up a specific platform within Qatar University to create a continuous and direct link between community institutions and the university, as well as creating an effective mechanism that enables students to communicate with academic advisors and administrative staff to solve the academic and administrative problems they face during their university studies.

On the national labor market axis, the council recommended adherence to Qatar National Vision and Development Strategy to support and provide the national economy with the specializations of the knowledge economy and coordinate with the government and private sector on the required academic majors annually, in terms of quantity and quality, besides the public and private sectors benefit from the capabilities of Qatar University as a house of expertise.

Regarding the promotion of values, principles and ethics axis, the recommendations of the Shura Council called for taking into account the orientations, ideas and backgrounds of faculty members before contracting them to work at the university by evaluating these academic cadres, as well as the need to respect societal values, with emphasis on compulsory courses in Islamic culture and the Arabic language and introducing university courses that reinforce national identity and social responsibility that achieves behavioral discipline and good moral values.

The council also recommended, in case there are vacancies at the university, to increase the scholarships for distinguished students from Arab and Islamic countries to study at Qatar University and its colleges and providing the necessary supplies to those in need to continue their studies, the matter that contributes to strengthening the cultural relations and ties between the countries and peoples, and considering the possibility of establishing a charitable fund at the university to achieve this purpose.

After an extensive discussion, the Council decided to refer these recommendations to the competent authorities.