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UAE approves draft law to allow family owned companies to list

UAE approves draft law to allow family owned companies to list

The United Arab Emirates is home to three stock markets – NASDAQ Dubai, Abu Dhabi Securities Exchange and Dubai Financial Market

The United Arab Emirates, home to three stock markets, approved a draft law allowing family-owned businesses to list on the country’s financial markets.

The cabinet approved the draft law amending provisions in the “Agency Law” that regulates commercial and distribution agreements, state-run WAM news agency reported.

It’ll allow family-owned companies to turn into public joint stock companies.

WAM didn’t provide details on the changes.

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