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Cabinet approved yesterday licensing Abu Dhabi Commercial Bank (ADCB) to operate in the local market, state news agency SPA reported yesterday. It’s not clear what services ADCB might be licensed to offer, including whether this is a rep office or a full banking license.
More holidays: It also approved an amendment that would see a minimum of four-day holidays and a maximum of five days in Eid Al Fitr and Eid Al Adha for specific government institutions, without providing further details.
Ministers meeting yesterday for the weekly cabinet meeting also approved:
- Mandating the Energy Minister to discuss and sign a MoU with the UNEP;
- A MoU setting up a strategic partnership council with South Korea;
- Mandating the Industry and Mineral Resources Minister to discuss and sign a MoU on the textile industry with India;
- Instructing the Environment, Water and Agriculture Minister to discuss and sign with Dutch counterparts a MoU on localizing advanced tech in the sector;
- Mandating the governor of SAMA to discuss and sign a MoU on cooperation with Turkey’s central bank.
