UAE approves draft law on family businesses

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Family-owned companies will soon be able to get listed on the UAE's financial markets.

The federal cabinet has approved a draft law allowing these businesses to turn into public joint-stock companies.

It has also amended certain provisions in the country’s Agency Law, which regulates commercial and distribution agreements.

According to national news agency WAM, the initiative is aimed at boosting investment opportunities and encouraging UAE citizens to engage in business activities.

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