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Respective Bodies develop Executive Regulations to run Financial Policies and deal with Contracts, Incentives & Penalties

Dubai, United Arab Emirates -  04 July  2019:   Dubai Sports Council confirmed the importance of implementing the highest standards of governance & financial control to secure smooth running of work in the sports clubs & football companies in Dubai, as part of common collaboration with respective entities; top of which are the Financial Audit Authority and Department of Finance.

The requested standards of governance & financial control are part of DSC's permanent efforts to alleviate government support for football companies and to adopt rational expending policy.

The executive regulations of football companies have been completed as decided by DSC in coordination with football companies, and each football company is therefore requested to fix its own executive regulation according to the general guidelines in order to develop the corporate abilities for football companies, secure further governance procedures in technical & administrative work and control contracting budgets with professional players & coaches. 

The governance & financial control's procedures were stated during the periodical meeting between DSC & Dubai football companies, convened Wednesday 3rd July 2019, with participation of H.E. Saeed Hareb, the Secretary General of DSC / Mr. Ali Bu Jusaim, the Board Member of DSC / H.E. Naser Aman Al-Rahma, the Assistant Secretary General of DSC / Mr. Ali Al-Baloushi, Director of Sports Development Dept. in DSC / Mr. Abdul Rahman Abu Al-Shawareb, Board Chairman of Al-Nasr Football Co. / Mr. Ali Obaid Al-Bidwawi, Board Chairman of Hatta Football Co. / Mr. Abdul Karim Al-Haj, CEO of Shabab Al-Ahli Football Co. / Mr. Mohammed Ali Aamer, the CEO of Al-Wasl Football Co.

DSC stressed that the implementation of the governance policy in clubs & football companies, which are affiliated under the umbrella of DSC, is part of Dubai Government's directives aiming to attain strategic goals via deciding responsibilities, commitments & relations with all respective parties, based on full transparency and adhering to general principles & values. 

DSC expressed that the governance procedures are classified into five levels; these are: ideal level, which provides integrated practices for permanent improvements / integrated level, which presents organized sustainable practices / organizational level, which provides the minimum standard of governance / partial level, through which governance procedures are designed & arranged / initial level, which does not comprise any practices.

The governance model includes the Board of Directors, Executive Department and Audit & Governance Committee. It also contains control procedures, internal policies & regulations, legal affairs, risks management, quality & corporate excellence management and internal & government auditing.     

Powers & Regulations:

The governance procedure for the works in Dubai sports clubs & corporations specifies the powers of DSC & clubs' board, referring that Board Members will perform respective works according to full transparency & independence. 

The meeting confirmed the necessity of immediate completing for the executive regulations within the upcoming weeks and to follow up the accurate implementation of the same to secure smooth development in football companies and ideal investment for financial & human resources to commence upcoming stage of sports work with top competences in several fields such as human resources / authorization & powers guides / rewards, incentives & penalties regulation for players & technical bodies / contracts & purchase policy / utilities & facilities policy / attracting of professional players & coaches / communication & information policy / regulation of work in permanent & temporary committees / shareholders management policy/  measures & financial procedures guide / internal auditing guide / corporate governance guide / public & fans attracting policy.  

The professional commitment initiative for players and technical & administrative staff targets to implement the best professional practices, maintain football rights in relation with local & foreign professional players and technical staff, secure top job performance level to serve common goals as per the specified plans, boost technical abilities of players, deal with social responsibilities program & commercial programs according to the contracts signed between respective parties, based on the best practices in professional clubs.

The meeting dealt with means of supporting Hatta Club, which has retrieved its seat in the Arabian Gulf League, in order to enable the Club to present distinctive performance that copes with eminent status of the city of Hatta and conforms to the wise leadership's directives targeting to convert the City into a distinctive tourist & sports destination and to utilize its geographical location & important resources. 

The meeting also reviewed the Article of Association of the Football Pro League Committee, announced by General Authority of Sport, which is assigned to organize competitive events of football professional clubs.



Posted by : GoDubai Editorial Team
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Posted on : Thursday, July 4, 2019  
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