HRH the Crown Prince chairs weekly Cabinet meeting

Manama, Dec. 10 (BNA): His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, today chaired the weekly Cabinet meeting at Gudaibiya Palace. Following the meeting, the Cabinet Secretary-General, HE Dr. Yasser bin Issa Al-Nasser, made the following remarks: The Cabinet congratulated HM King Hamad bin Isa Al Khalifa, HRH Prince Khalifa bin Salman Al Khalifa, the Prime Minister, HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, and the people of Bahrain ahead of the 16 and 17 December national celebrations, which mark the anniversary of the establishment of the modern state of Bahrain as an Arab and Muslim country in 1783 by its founder Ahmed Al-Fateh, the 48th Anniversary of Bahrain’s accession to the UN as a full member, and the 20th Anniversary of HM King Hamad’s Accession to the Throne. In this regard, the Cabinet praised the Kingdom of Bahrain’s comprehensive development across all fields, under the leadership of HM King Hamad, and affirmed the country’s advancement towards even greater stability and prosperity based on solid political, legal, economic and social institutions. The Cabinet, on the occasion of the Commemoration Day on 17 December, recalled with pride the sacrifices made by those who have fallen in service to protect the Kingdom and its people, stressing that they will always be remembered with the upmost appreciation. The Cabinet welcomed the convening of the 40th Gulf Cooperation Council (GCC) Summit in Riyadh, presided over by the Custodian of the two Holly Mosques King Salman bin Abdulaziz Al Saud, and wished Bahrain’s delegation, led by HM King Hamad, every success in strengthening regional cooperation and integration to achieve common goals. The Cabinet highlighted HM King Hamad’s patronage of the celebrations of the centenary of Bahrain Police, and extended its congratulations to all members of the Ministry of Interior on Bahrain Police Day, celebrated on 14th of December. The Cabinet went on to praise the role of the ministry’s personnel in safeguarding the Kingdom’s continued security and stability. The Cabinet went on to express appreciation for the support extended by HM King Hamad to Bahrain’s youth and sports sector, praising the Kingdom’s successful hosting of the Iron Man Middle East Championship, which demonstrated the country’s ability to organise prestigious international events. The Cabinet praised the Bahrain National Football team following their victory at the 24th Arabian Gulf Cup, a result which ranks alongside Bahrain’s greatest sporting achievements and reflects the determination and tenacity of the Kingdom’s citizens. The Cabinet also highlighted that the victory exemplifies the concept of Team Bahrain and lauded the passion and commitment of everyone involved including administrative staff, coaches and the players. The Cabinet congratulated the winners of the fourth edition of the Bahrain Award for Entrepreneurship, held under the patronage of HRH the Crown Prince, and praised their contribution to economic diversification and innovation within the private sector. The Cabinet praised Bahrain’s hosting of the 26th Annual World Islamic Banking Conference, held under the patronage of HRH the Prime Minister and inaugurated on his behalf by HH Shaikh Salman bin Khalifa Al Khalifa, welcoming the Kingdom’s position as a hub for Islamic banks. A number of submissions, memorandums and proposed laws were discussed during the meeting. The Cabinet outlined the following outcomes: 1. The Cabinet approved the launch of a Liquidity Support Fund worth BHD 100 million, in line with directives issued by HRH the Crown Prince during the 2019 Government Forum. To be launched in coordination with the Bahrain Chamber of Commerce and Industry (BCCI) and a number of national banks, the fund aims to support working capital requirements of viable companies that are in display of genuine short term liquidity pressures. The Cabinet noted that the strength of the Kingdom’s private-public partnership had facilitated the swift establishment of the Liquidity Support Fund, in addition to ensuring sustainable practices in the private sector for the benefit the citizens and the Kingdom. The Cabinet approved the signing of 4 agreements with national banks worth in order to arrange credit facilities. The Cabinet instructed the Ministry of Finance and National Economy to follow up on the relevant processes and initiate the launch of the Liquidity Support Fund. 2. Based on the recommendations of the Government Executive Committee, chaired by HRH the Crown Prince, to review the cost recovery fee mechanisms applied in the construction sector in order to encourage investments, the Cabinet approved recommendations to reduce infrastructure cost recovery fees from BHD 12 to BHD 10 per square meter provided that they are paid in full at the time of permit issuance, alongside providing financing facilitations through commercial banks through the building permits system “Benayat” via instalments, while keeping the option to pay in 3 instalments at a rate of BHD 12 per square meter available. The proposal also includes introducing the 3 payment options on Benayat’s website in cooperation with the Information and eGovernment Authority, and the amendment of Resolution No. 11 for the year 2017, which governs how the categories are determined and regulates a mechanism for recovering the cost of building and infrastructure development. The approval follows a memorandum submitted by the Chairman of the Ministerial Committee for Financial and Economic Affairs and Financial Balance, and Deputy Prime Minister, HE Shaikh Khalid bin Abdullah Al Khalifa. 3. The Cabinet approved the Government’s draft response to the Council of Representatives’ proposal to increase the monthly benefits paid to people with disabilities to BHD 200. The approval of the draft response follows the recommendations of the Ministerial Committee for Financial and Economic Affairs and Fiscal Balance – chaired by the Deputy Prime Minister, HE Shaikh Khalid bin Abdullah Al Khalifa. 4. The Cabinet approved Memorandums of Understanding (MoU) between the Kingdom of Bahrain and the Islamic Republic of Pakistan. The MoUs, which were presented by the Minister of Foreign Affairs, set the framework for cooperation in the fields of health, media, education, youth, and sports among others. 5. The Cabinet approved an agreement and an MoU between the government of the Kingdom of Bahrain and the government of HM the Sultan and Yang Di-Pertuan of Brunei Darussalam. The agreement and the MoU, which were also presented by the Minister of Foreign Affairs, set the framework for establishing a joint committee for bilateral cooperation and for cooperation in the education sector. 6. The Cabinet approved a memorandum submitted by the Minister of Foreign Affairs on the exchange of notes between the government of Bahrain and Japan exempting holders of diplomatic, special and official passports from visa requirements. 7. The Cabinet approved a memorandum on the transference of the registry of closed joint-stock companies from the Ministry of Industry, Commerce and Tourism to Bahrain Clear in order to further increase transparency and drive the introduction of new services without affecting privacy. The Cabinet also referred the memorandum, which was submitted by the Minister of Industry, Commerce and Tourism, to the Ministerial Committee for Legal and Legislative Affairs. Later, the Cabinet reviewed two ministerial reports on the outcomes of the 31st session of the International Maritime Organization (IMO) Assembly, as well as on the upcoming e-tournament submitted by the Minister of Youth and Sports Affairs.