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Thursday, 26 November 2009 05:14 UAE time

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UAE allows ministers to be company directors

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 03 December 2008
MR SPEAKER: File photo of Federal National Council speaker, Abdulaziz Al-Ghurair. (Getty Images)
MR SPEAKER: File photo of Federal National Council speaker, Abdulaziz Al-Ghurair. (Getty Images)

The UAE's top ruling body amended the constitution on Tuesday retaining a ban on cabinet ministers from conducting commercial activities but dropping a restriction on them sitting on company boards, official news agency WAM reported.

UAE ministers own some of the country's biggest and most lucrative businesses and often sit on the boards of several different companies at the same time as holding office.

The amendment carried by the official WAM news agency also extended the term of the advisory Federal National Council, which is semi-elected, to four years from the current two. The changes come into effect after they are published in the official gazette.

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    Firstly, kudos to the AB guys for actually going ahead and publishing this, having lived here for almost 20 years, its very rare that...   More  »
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