Source: Al-Bayan
A report published by the Euromoney magazine confirmed that the UAE continues to intensify its efforts to consolidate its position as one of the main hubs for global investors. The monthly magazine published in London said that improving the companies ’access to capital is essential to creating a diversified and sustainable economy as the region looks forward to an oil-free future.
The move comes against the background of the inclusion of Gulf countries in the MSCI and FTSE Russell indices.
The Council of Ministers in the UAE has adopted a federal draft law amending some provisions of the law regulating commercial agencies, in order to keep pace with economic developments and development and investment needs The project aims to enhance the capabilities and continuity of family businesses.
Nick Wilson, President of the Gulf Investment Fund, said: This type of reform and market participation will lead to additional improvements in the business environment in the UAE, including the areas of corporate governance, reporting, and liquidity in the market. For investors, this step is an important development that will increase the diversity of shares over options on local stock exchanges, as well as transparency and governance in UAE companies.