Sharjah Chamber of Commerce and Industry Restructuring
The Chamber of Commerce and Industry in Sharjah (SCCI) is a government-owned entity that was initially established in 1970 by the Sharjah ruler. Each Emirate has its Chamber, and they are responsible for managing and ensuring the effectiveness of the local economy and managing the business entities within. It has become a vital aspect of the structure of the Emirate, and all businesses will have to obtain their membership and keep them up to date concerning the activities they are partaking in.
The organization is quite large with smaller entities functioning under its umbrella, and another critical role that it plays is that of general policy supervision and execution.
Recently, there have been a few new updates concerning the SCCI which have involved restructuring, and the following covers the key new points.
Law Number 9 of 2018
This law concerning the SCCI received recent implementation in Sharjah. Firstly, the law states some facts concerning the SCCI, such as the fact that it is a non-profit organization responsible for the development of the private sector businesses. A bi-monthly council meeting will take place and discuss critical issues.
There is also to be a Director-General appointed with the assistance of the board of directors and appropriate individuals responsible for the appointing. Their responsibility shall be to achieve the objectives of the office and legally represent the SCCI.
Further to this, an annual budget shall be allotted to the SCCI from the government, and this shall commence the financial year form the start of January to December 31 of the same year.
Any prior acts which state contrary information are to be repealed, and the regulation shall enter into force from the date of its publication in the National Gazette.