UAE Mandates Female Board Members for Private Companies

The United Arab Emirates Ministry of Economy has announced that privately-held joint stock companies must have at least one female member on their board of directors.

According to the ministry's statement: "This decision is a vital element of the nation's broader strategy aimed at increasing diversity in the corporate sector and enhancing the representation of women in leadership roles.

"In line with the UAE's goal to advance in global competitiveness rankings, this initiative reflects the leadership's unwavering commitment to supporting women, ensuring they play a significant role in the country's sustainable development.

"This directive demonstrates the ministry's dedication to adopting global corporate governance best practices and the intention for company boards to represent all segments of society."

In 2021, the UAE's Securities and Commodities Authority (SCA) issued a regulation requiring publicly listed companies on the ADX and DFM exchanges to have at least one female member on their board of directors.

The latest decision will come into effect in January 2025.