The Board of Directors of Labour Market Regulatory Authority approved the audited financial statements for the year 2014, and deliberated the report of the Chief Executive Officer on the achievements of the LMRA in the year 2014, and were also briefed on the progress of the work and projects and given a presentation by the CEO on the programs and activities for the year 2015. The board during its regular meeting also reviewed and endorsed a memorandum from the from the head of the Audit Committee on the results of their meeting.
The Board of Directors of Labour Market Regulatory Authority held their regular meeting on Monday, March 19, 2015, led by Labor Minister and chairman Jamil bin Mohammed Ali Humaidan at the LMRA offices .
The Minister Mr. Hamadan stated that the Board reviewed the achievements of the LMRA in the year 2014 including its programs and Actions plans, and that he was happy to guide the Executive Board to redouble efforts in this area in collaboration with official institutions and related authorities to ensure compliance with applicable laws and regulations, at the same time, the board commended the efforts of the LMRA, adding that the Board has full confidence in the readiness of the LMRA to carry out the tasks entrusted to it and highlighted the need to continue the modernization and development to provide the best possible services to clients.
Mr. Humaidan said the Board discussed a memorandum by the Head of the Audit Committee, Member of the Board of Directors on the financial audit report which recommended the approval of the financial statements for the third quarter and fourth quarter of 2014, and the Committee’s recommendation to appoint the external auditor to the authority for the year 2015. The Board also reviewed and approved programmes and projects within the work plan of the Executive Body for the year 2015.
The Minister and Board Chairman spoke highly of the efforts of the Executive Body and the invaluable efforts of the members of the Board of Directors, adding that concerted efforts guarantee continued achievement in the performance of its duties.
On the a similar note the Board reviewed mechanisms for cooperation between the labour market regulatory authority and partner institutions in the public and private sectors and called for greater cooperation and complementarity with the aim to facilitating the procedures and to reduce service times and raise the level of quality in the services provided.
The CEO of the LMRA presented a report on the achievements the LMRA during the year 2014 explaining the mechanisms of action and the overall achievements of the Authority and showed the that the number of applications for work permits have increased showing a rise in the levels of growth and economic stability and recovery, and noted that the LMRA had reached record levels in speedy processing and completing application and transactions.