UAE Cabinet approves trading shares of cooperatives on financial markets

By Alan Peterson

Published: February 17, 2022 | 5:02 PM GMT

UAE Cabinet approves trading shares of cooperatives on financial markets

DUBAI, 17th February, 2022 – The UAE Cabinet, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved a decision on the trading of shares of cooperatives on the financial markets in a move conducive to strengthening the regulatory environment of the cooperatives sector and driving their economic returns.

The development, the first of its kind in the region, is aimed to grow the cooperatives’ sector contributions to the national economy, enhance their competitiveness and help the sector benefit from the disruptive services provided by the UAE bourses in terms of transparency, resilience and swift management of services.

The decision allows the financial markets to establish special platforms for the registration, trading and transfer of the shares of cooperatives, so that they are independent of the IPO and public trading platforms on the bourses.

The decision invests the financial markets with the power to establish and develop terms and conditions that determine procedures, standards, requirements, models and mechanisms on registration, trading and complaints.

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About Alan Peterson

Alan Peterson is a talented writer who creates engaging and informative content for TDPel Media. With a keen eye for detail and a passion for storytelling, Alan has established himself as a respected authority in his field. He is a dedicated professional who is committed to providing readers with accurate and up-to-date news and information. Alan’s ability to distill complex ideas into easily digestible pieces has earned him a loyal following among TDPel Media’s readers. In addition to his writing work, Alan is an avid reader and enjoys exploring new topics to expand his knowledge and expertise. He lives in Scotlant, United Kingdom.