All UAE stock market companies now need at least one female board director
All UAE stock market companies now need at least one female board director

All UAE stock market companies now need at least one female board director

All stock market listed companies in the UAE now need to have at least one female director on their boards.

The news was announced by the UAE’s Securities and Commodities Authority following a meeting yesterday.

And the move means the UAE is aiming to meet the ‘to meet the highest global standards”, according to the SCA’s board and Minister of Economy Abdulla Bin Touq.

This “is a priority for the SCA and its board during the coming period and we will work with all partners to enhance the local investment environment and support its legal infrastructure to meet the UAE Vision 2021 and the targets of the next 50 years”, Mr Bin Touq added.

The move is the latest measure to boost female representation in UAE businesses. The Central Bank of the UAE recently signed an agreement to increase the number of women in public and private companies.

At present, women only sit on 28 out of 110 listed companies in the UAE. But women only make up 3.5% of the total board seats in the UAE.

This could be just the first step, with non-listed companies next to be addressed.

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