Risk Management Report: UAE
Risk Management Reports
Issue 1004
- 12 Nov 2015
| 1 minute read
Established in 1971, the federation of the seven emirates of Abu
Dhabi, Ajman, Dubai, Fujairah, Ras Al-Khaimah, Sharjah and Umm Al-
Quwain is a liberal and progressive state as far as the economy goes, but remains politically conservative. The federal government has legislative and executive jurisdiction over areas including foreign affairs, security and defence, air traffic control, education, public health, currency, electricity and immigration. Each emirate retains considerable economic independence and control over mineral rights and revenues. Oil-rich Abu Dhabi has been dominant, and its ruler, Sheikh Khalifa Bin Zayed Al-Nahyan, is president of the federation. Each emirate’s ruler sits on the Supreme Council, the highest executive and legislative authority. The Council of Ministers makes most federal decisions, while the Federal National Council (FNC) acts as an advisory council. FNC elections were held in October.
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