While women are present on the boards of 28 out of 110 listed companies in the UAE, they make up only 3.5% of all board positions, according to data compiled by Aurora50.
The United Arab Emirates, home to Dubai and Abu Dhabi stock markets, will require at least one female director on the boards of all listed companies, as firms around the world face pressure to boost gender diversity.
The United Arab Emirates, home to Dubai and Abu Dhabi stock markets, will require at least one female director on the boards of all listed companies, as firms around the world face pressure to boost gender diversity.
The requirement came into force after the Securities and Commodities Authority’s meeting on Sunday, according to the National newspaper, which cited the market regulator.
The five biggest companies listed on Dubai Financial Market PJSC and the Abu Dhabi Securites Exchange have 84 board members, but only three women, according to data on the exchange websites.
“We previously used to accept explanations if there wasn’t compliance, but now we are moving to make female representation compulsory,” the regulator’s Chief Executive Officer Obaid Saif Al Zaabi was quoted as saying by the National. “So now there must be at least one female member on the board of any listed company.”
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