Humaid bin Rashid has issued a law regarding the Ajman Chamber.

H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, has issued Law No. 2 of 2024 regarding the Ajman Chamber. The new law assigns the Chamber to represent, support, and protect the interests of its members and the business community in the emirate. This is aimed at achieving sustainable development and contributing to the development and consolidation of the emirate’s economic position and its investment environment.

The law stipulates that the name “Ajman Chamber of Commerce and Industry” will be replaced with the name “Ajman Chamber”, while ensuring that this change does not affect the Chamber’s rights and obligations. The Chamber is reorganized to be a non-profit public benefit institution with legal personality, financial and administrative independence, and the necessary legal capacity to carry out all legal acts and actions that help achieve its objectives and implement its assigned competencies under this law.

Under the new law, the Chamber aims to represent, support, and protect the interests of its members and the business community, improve the business environment in the emirate, enhance its attractiveness and competitiveness, and improve the quality of services provided to its members in coordination with competent authorities. Additionally, it aims to contribute to strengthening the emirate’s local economy, attract local and international investment institutions, and develop national leadership in economic fields and the business sector.

The law also specifies that the Chamber is tasked with developing plans, policies, and strategies in coordination with relevant authorities to enhance the emirate’s regional and global position in trade and industry. It is also responsible for developing leadership and technical cadres in economic fields and the business sector.

Furthermore, the law assigns the Chamber to promote attracting investments and companies to the emirate, review and analyze economic conditions, develop necessary means and tools for the emirate's economic sector, propose legislation to achieve sustainable economic development, and educate the business community in economic and commercial fields.

The Chamber will also study economic activities in the emirate, diagnose challenges facing economic establishments, and present appropriate recommendations to the competent authorities. It is also responsible for resolving commercial and civil complaints that arise between members in an amicable manner.

Additionally, the law allows the Chamber to establish affiliated centers within and outside the country, establish companies or investment projects, or participate in them, in accordance with approved legislation and regulations. It also grants membership certificates to those licensed to practice economic activities in the emirate.The Chamber is responsible for issuing and certifying certificates of origin for exported or re-exported goods and products, as per the law. It also works on developing businesses and researching ways to improve them, in collaboration with competent authorities, chambers of commerce, unions, business organizations, and professional bodies in various economic sectors. The Chamber exchanges expertise and consultation with these entities.

Additionally, the Chamber is assigned to provide advice and consultation to its members on legal, commercial, economic, or technical matters. It also provides them with available information and guides them to follow procedures and means that help them protect their rights and develop their businesses.

The Chamber also certifies commercial and industrial transactions and certificates, expert reports, goods export invoices, and validates the signatures of authorized signatories for its members. It maintains a database of experts, professionals, and technicians to utilize their capabilities for the benefit of its members.

Furthermore, the Chamber owns, manages, and invests movable and immovable funds, and is authorized to sell and mortgage them, as well as conclude contracts and agreements of all kinds. It also organizes and hosts events, exhibitions, conferences, seminars, and local and international business discussion forums, and may even contribute to organizing or participating in these events.

In accordance with the law, the Chamber forms working groups of members with similar activities to study challenges or difficulties they face, and works on resolving these issues in coordination with competent authorities. It may seek assistance from experts or specialized international, regional, and local organizations and cooperate with relevant government agencies in the country and emirate regarding applications submitted by commercial liaison offices, unions, associations, and non-governmental organizations specialized in economic, commercial, and professional fields.

The Chamber organizes qualitative awards for its members to enhance the confidence of dealers and consumers and contribute to the competitiveness of the emirate while achieving efficiency in business and its outputs.The law outlines the responsibilities of the Chamber’s Board of Directors, which include approving the Chamber’s general policy, strategic plan, and operational plans. They are also responsible for overseeing the implementation of these plans, approving draft laws and decrees related to the Chamber, and organizing its affairs. Additionally, they approve the Chamber’s financial regulations, administrative regulations, and human resources regulations. The Board of Directors also approves the annual budget and final account of the Chamber, appoints external auditors, and reviews their reports. They are also responsible for approving the Chamber’s organizational structure, managing its finances, and accepting gifts and donations in accordance with the law. The Board also has the authority to approve foreign trade missions organized by the Chamber and forms committees to assist in its tasks.

The law specifies the conditions for Chamber membership, making it mandatory for anyone licensed to practice economic activities within the emirate. Additionally, it outlines the requirements for registering branches with the Chamber and paying separate membership fees for each branch. It also clarifies that membership in the Chamber is mandatory for subsidiary companies licensed under a different trade name from the parent company. However, membership for establishments licensed within the free zones in the emirate is optional unless they wish to request Chamber services.

Finally, the law exempts individuals with simple crafts that rely on their skills and physical abilities to secure their livelihood from joining the Chamber. The Chamber’s regulations determine the specific categories of simple craft owners who are exempt from this condition.