The UAE cabinet has approved a decision to allow cooperative associations to list on the local stock exchanges.
The cabinet, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, gave its go ahead for the trading of shares of cooperatives on the financial markets.
It's aimed at strengthening the regulatory environment of the cooperatives sector and driving their economic returns.
The development, the first of its kind in the region, will also help enhance the sector's contributions to the national economy.
The latest decision allows 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.
برئاسة محمد بن راشد، مجلس الوزراء يعتمد قرار السماح بتداول أسهم الجمعيات التعاونية في الأسواق المالية. https://t.co/cUHgCIFVFn
— Dubai Media Office (@DXBMediaOffice) February 17, 2022
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