Minister of Business and Trade Launches Electronic System for Public Assemblies Management and Organization

March 26, 2013

Under the auspices of HE Sheikh Jassim Bin Abdul Aziz Al Thani, Minister of Business and Trade, and in the presence of a number of Qatar Chamber and Qatar Businessmen Association representatives, and a large number of board members of public shareholding companies, the Ministry of Business and Trade,in association with Barwa Capital UK, launched yesterday, Monday 25/03/2013, an electronic system to manage the general assemblies and boards of directors of public and private companies in the country. The e-platform – the latest of its kind and a first time application for the region – is designed to facilitate voting and decision-making as well as the election of boards of directors live online .
During the launch ceremony, The Department of Companies Control at  the ministry, in addition toBarwa officials, held a demonstration of the new system.
HE Sheikh Jassim Bin Abdul Aziz Al Thani, minister of business and trade, thanked Barwa and theCompanies Control Department’s management control wing for developing the systems to improve safety applications and contributing to boosting trade and business environment, affirming that the application of new system should be preceded by sufficient trials to ensure smooth flow and safety procedures.
According to HE Sheikh Jassim bin Abdulaziz al-Thani, the ministry is currently redrafting all legislative tools and organizational tasks associated with improving the business environment in the state and in accordance with the role of the ministry in realizing the Qatar National Vision 2030 . “The Ministry of Business and Trade will support and adopt all initiatives to achieve this vision of  sustainable Qatar by 2030,” he said.
The new draft law for commercial companies that is undergoing final touches contains a specific article that mandates to harness the advancement in technology to enhance the country’s business environment. It allows the use of hi-tech  systems, which is an important qualitative leap for holding Ordinary General Assembly Meetings. “This e-system is in line with this decision”, HE said.
Speaking on the occasion, Barwa Real Estate Company CEO Abdullah bin Abdulaziz Subaie said that the new technology will ease voting and decision-making process and will also help to facilitate election of boards of directors. The device can be used for voting and will allow the board members and company shareholders to express their opinions online.
Barwa Real Estate CEO said that Barwa would use the new system at its next general assembly scheduled for next month.
Salem bin Salem al-Manaei, assistant director of Companies Control Department, said that, in addition to voting, the electronic system will be also used to provide shareholders the ability to record the number of their shares through a smart card  which will be specific for each shareholder.
“The system also helps to organize the voting process with precision and organize panel discussions and interventions, extracting statistical reports and supporting documents of the General Assembly,” Al Manaei said adding that “the new draft law for commercial companies allows the use of hi-tech systems, which is an important qualitative leap for holding Ordinary General Assembly Meetings. It will enable companies to comply with the legal regulations.”