ABU DHABI: The Ministry of Economy has announced a new rule requiring private joint-stock companies in the UAE to have at least one woman on their boards of directors. This rule will apply after the current board’s term ends.
This decision is part of the UAE’s broader goal to promote diversity and increase women’s roles in leadership positions. By doing so, the UAE aims to boost its global competitiveness and show its commitment to empowering women in all sectors, especially in business.
Ministerial Resolution No.137 of 2024, which regulates the governance of private joint-stock companies, follows a similar rule already in place for public joint-stock companies. That earlier decision has been successful in improving both company performance and economic growth.
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Abdullah bin Touq Al Marri, the Minister of Economy, highlighted that the UAE is dedicated to enhancing women’s contributions to economic development. He believes this new rule will help strengthen the country’s gender balance and improve leadership in the business world.
He also praised H.H. Sheikha Manal bint Mohammed bin Rashid Al Maktoum, President of the UAE Gender Balance Council, for her efforts to promote women’s participation in the economy. Her initiatives, like the “Women on International Boards” programme, aim to increase women’s leadership roles to 30% by 2025.
Mona Ghanem Al Marri, Vice President of the UAE Gender Balance Council, also praised the collaboration between the ministry and the council. She believes this decision will significantly advance gender balance and contribute to the UAE’s economic growth.
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The Ministry of Economy plans to start enforcing this rule in January 2025 and encourages companies to consider it when restructuring their boards. This move further supports the UAE’s vision to empower women and improve corporate governance across the country.
