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The company posted a net profit of $692m.

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UAE to allow cooperative associations to trade in markets

Cooperative Associations can now raise the funds needed to expand
By TRENDS Desk
February 19, 2022 11:47 pm
  • United Arab Emirate's cabinet of ministers has approved this new decision
  • The move aims to strengthen the regulatory environment of the cooperative sector

The UAE has announced that it will  allow cooperative associations to trade their shares in financial markets, according to media reports.

The UAE’s cabinet of ministers approved this new decision. After the decision, stock markets will establish special platforms for registering, trading and transferring the ownership of cooperative association shares.

This process will make sure they are independent of general trading platforms in the market.

The move aims to strengthen the regulatory environment of the cooperative sector and raise its competitiveness.

This also enables them to raise the funds needed to expand and diversify their activities.

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