A significant step forward for girl power…
In a recent announcement by the Ministry of Economy, the UAE has mandated that women must be included on the board of directors for private joint-stock companies, effective January 2025.
Firms are now required to have at least one woman on their board of directors once the current terms conclude. This initiative aims to enhance and broaden the representation of female talent in the corporate sector.
Ministerial Resolution No. 137 of 2024, which governs the regulations and operations of private joint-stock companies, aligns with the directives previously implemented for public joint-stock companies.
This initiative was initially introduced for public joint-stock companies in 2021 by the Board of the UAE Securities and Commodities Authority (SCA), which required that at least one seat be allocated for women on the boards of companies listed on the Abu Dhabi and Dubai stock markets.
Achieving balance and equality in the boardroom has been a key priority for the UAE government, and various initiatives have been implemented to move towards this objective.
In 2018, Sheikh Khalifa bin Zayed Al Nahyan, the then-President of the UAE, directed authorities to allocate 50 percent of the seats for women in the Federal National Council. Additionally, a decree issued in 2020 mandates that women and men in the UAE must receive equal pay for the same job.
The initiatives led by Sheikha Manal bint Mohammed bin Rashid Al Maktoum, President of the UAE Gender Balance Council and wife of His Highness Sheikh Mansour bin Zayed Al Nahyan, aim to increase female representation in leadership roles to 30 percent by 2025.
