UAE Introduces Requirement for Women on Boards of Directors in Private Companies

UAE, 24 September, 2024 : The UAE has announced a directive requiring private companies to ensure female representation on their boards of directors as part of its gender equality initiative. This new rule, issued by the Ministry of Economy, will take effect in January and targets private joint-stock companies, which are owned by investors and managed by a board.

According to a statement from the Dubai Media Office, private joint-stock companies must allocate at least one seat for women on their boards after the current term concludes. This initiative aims to enhance the role of women in the private sector, address gender disparities, and strengthen their influence as decision-makers.

Abdulla bin Touq, Minister of Economy, emphasized that the decision aligns with the UAE's vision to promote gender balance and empower women in leadership roles within the business sector.

Source : www.thenationalnews.com