UAE Cabinet approves listing of cooperatives on local bourses

The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, has approved the listing of the shares of cooperatives on the local financial markets in a move that seeks 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.

Source: His Highness Sheikh Mohammed bin Rashid Al Maktoum