The UAE cabinet passed a new legislation on cooperative organisations, allowing them to trade on stock exchanges to attract new partners. Co-operatives, which are mostly supermarkets and retail firms, will be able to obtain excess revenue and broaden their holdings by listing their shares on the stock exchange.
Entry to financial markets will also enable co-operatives to contribute more to the country’s economic growth, strengthen their position, and prosper. As per the legislation, financial markets will be able to create specific areas for the registration, trade, and exchange of cooperative shares, which would be separate from IPO and public trading platforms.
Crowd Funding to be a vital player
Crowdfunding is one of the finest ways to get funds for new business concepts that would benefit youth and entrepreneurship. The UAE Cabinet authorised the use of crowdfunding to support new initiatives in the public and private sectors. Crowdfunding is a method of gathering funding from a huge number of individuals, usually through the online. The Securities and Commodities Authority (SCA) will oversee the UAE System for Crowdfunding Platform Operators.
The UAE Gender Balance Council Strategy 2022-2026 was also endorsed by the Cabinet in order to increase the number of women in leadership positions. Economic participation, well-being, protection, and entrepreneurship are the four vital components of the council’s plan, which strives to close the gender divide in all domains.
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