ADVERTISEMENT

U.A.E. Approves Draft Law to Allow Family-Owned Companies to List

U.A.E. Approves Draft Law to Allow Family-Owned Companies to List

(Bloomberg) -- The United Arab Emirates, home to three stock markets, approved a draft law allowing family-owned businesses to list on the country’s financial markets.

The cabinet approved the draft law amending provisions in the “Agency Law” that regulates commercial and distribution agreements, state-run WAM news agency reported. It’ll allow family-owned companies to turn into public joint stock companies.

WAM didn’t provide details on the changes.

Link to WAM story: https://bit.ly/37gZrJP

To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

©2020 Bloomberg L.P.