New UAE code aims to beef up corporate governance

A new corporate governance code comes into effect this April in the UAE and attempts to “introduce internationally accepted corporate governance rules into the realm of commercial companies” in the emirate.  For instance, listed companies will be compelled to disclose more details about their board members, such as whether or not they are concurrently serving on the boards of other joint stock companies.  Analysts note that the new legislation may ultimately help realize higher market valuations by improving disclosure standards and thereby addressing one form of investor uncertainty.