Listed companies in the United Arab Emirates must have at least one woman on their board of directors, the Securities and Commodities Authority said, Trend reports with reference to Reuters.
The move, an amendment of a previous decision by the authority’s board, is “in the context of keenness to empower Emirati women and encourage them to play a greater role in the boards of directors of listed companies,” the SCA said in a statement on Sunday.
Women sit on the boards of 28 of the 110 listed companies in the UAE, but only make up 3.5% of all board positions, according to Aurora50, a UAE-based social enterprise working towards increasing female representation on boards.