Abdulla bin Touq Al Marri, Minister of Economy, asserted that the decision gives a boost to the UAE’s vision to enhance gender balance, empowering women in the business sector, and increasing their presence in leadership and decision-making roles.
The United Arab Emirates made it compulsory for private joint-stock companies in the country to offer at least one seat for women on their boards of directors after the completion of the current board’s term.
The United Arab Emirates’ Ministry of Economy declared that the implementation of this decision will commence in January 2025 and urged the private joint-stock companies to factor this requirement into their future board restructuring plans.
This decision is being seen as a vital step of the nation’s broader strategy to enhance diversity in the corporate sector and increase women’s representation in leadership roles, the Ministry announced on Wednesday.
The Ministerial Resolution 137 of 2024, which addresses the regulation of private joint-stock companies’ governance and operations, follows a similar initiative previously applied to public joint-stock companies, it said, adding, the earlier decision has already yielded positive results, enhancing institutional performance and economic outcomes.
Abdulla bin Touq Al Marri, Minister of Economy, asserted that the decision gives a boost to the UAE’s vision to enhance gender balance, empowering women in the business sector, and increasing their presence in leadership and decision-making roles.