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ARTICLE · 07 OCTOBER 2024

Corporate Governance In UAE – Recent Changes | 2024

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The Securities and Commodities Authority (SCA) in the UAE has introduced several significant changes to the Corporate Governance Code in recent years.

United Arab EmiratesCorporate/Commercial Law
Ranganathan Sounderrajan
Ranganathan Sounderrajan

The Securities and Commodities Authority (SCA) in the UAE has introduced several significant changes to the Corporate Governance Code in recent years. These changes aim to enhance transparency, accountability, and overall corporate governance standards within the UAE. Here are some of the key recent amendments:

  1. Board Composition and Independence
    • At least one-third of the board must be independent directors.
    • Clear criteria for determining the independence of board members have been established to avoid conflicts of interest
    • At least one women board member.
  2. Board Membership
    • Board Members to possess experience and competence in areas that serve the company's interests.

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