The Ministry of Economy has issued a ministerial decision mandating private joint-stock companies in the UAE to allocate at least one seat for women on their boards of directors after the completion of the current board’s term. This decision is a vital component of the nation’s broader strategy to enhance diversity in the corporate sector and increase women’s representation in leadership roles.<\/p>\n\n\n\n

Aligned with the UAE\u2019s efforts to raise its global competitiveness rankings, the initiative demonstrates the leadership’s unwavering commitment to empowering women, ensuring they play a vital role in the country\u2019s sustainable development.<\/p>\n\n\n\n

The Ministerial Resolution No. (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. The earlier decision has already yielded positive results, enhancing institutional performance and economic outcomes.<\/p>\n\n\n\n

His Excellency Abdulla bin Touq Al Marri, Minister of Economy, emphasised that under the guidance of the UAE\u2019s wise leadership, the nation remains dedicated to strengthening women\u2019s contributions across various fields, especially in economic development. The latest decision reinforces 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 initiative further strengthens the UAE\u2019s global competitiveness and its position as a leader in gender equality.<\/p>\n\n\n\n

His Excellency further said, \u201cOver the past decades, women in the UAE have consistently proven their capabilities, making significant contributions to the business, financial, and investment sectors. Today, they are indispensable partners in economic growth and vital to the UAE’s global competitiveness. This decision will bring added value to private joint-stock companies, enhancing their institutional performance by drawing on the insights and experiences of successful businesswomen in the country.\u201d<\/p>\n\n\n\n

He also expressed his deep gratitude to Her Highness Sheikha Manal bint Mohammed bin Rashid Al Maktoum, President of the UAE Gender Balance Council, for her tireless efforts to increase women’s participation in the economy. Her initiatives, including the “Women on International Boards” programme and the \u201cSDG 5 Pledge to Accelerate Gender Balance in the UAE Private Sector,\u201d have been instrumental in promoting gender balance and aim to raise women’s representation in leadership positions to 30% by 2025.<\/p>\n\n\n\n

Her Excellency Mona Ghanem Al Marri, Vice President of the UAE Gender Balance Council, highlighted the strategic collaboration between the Ministry of Economy and the Council, noting that the Ministry\u2019s decision will have a significant impact on advancing gender balance.<\/p>\n\n\n\n

\u201cGuided by Her Highness Sheikha Manal bint Mohammed bin Rashid Al Maktoum, the decision paves the way for greater women\u2019s representation on boards, a transformative step that will contribute to the UAE\u2019s comprehensive economic growth. Aligned with Her Highness\u2019s vision of women as essential partners in the nation\u2019s development across sectors, the decision reaffirms the UAE\u2019s strong record and global leadership in gender balance,\u201d Her Excellency said.<\/p>\n\n\n\n

\u201cThe decision reflects the close fruitful collaboration between the ministry and the UAE Gender Balance Council, demonstrating the country\u2019s unwavering commitment to empowering women economically and enhancing their participation in the workforce. This initiative not only advances social development but also contributes to raising the UAE\u2019s status as a prominent global investment destination. We look forward to deepening this partnership to advance the UAE’s strategic goals and further cement its growing status as a global leader in gender balance,\u201d she added.<\/p>\n\n\n\n

The Ministry of Economy further announced that the implementation of this decision will commence in January 2025, and urged private joint-stock companies to factor this requirement into their future board restructuring plans. This directive reflects the Ministry\u2019s dedication to adopting global corporate governance best practices and ensuring that company boards represent all segments of society.<\/p>\n\n\n\n

In 2021, the Board of the UAE Securities and Commodities Authority (SCA) issued a landmark decision that mandated public joint stock companies listed in Abu Dhabi and Dubai stock markets to have at least one woman board member. The latest decision of the Ministry of Economy to extend the requirement to private joint-stock companies further supports the UAE\u2019s vision to empower women and encourage them to play a greater role on the boards of listed companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

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