Regulatory Alerts2019-01-01
General Authority for Financial Supervision Board of Directors Decision No. (124) of 2019
The General Authority for Financial Supervision issued Decision No. 124 of 2019 to amend its licensing framework for non-banking financial companies. The regulation mandates that the board of directors of all affected companies must include at least one female member, with professional companies exempted upon the Chairman's approval. Affected entities must amend their corporate governance structures to comply with this requirement by December 31, 2020, or at their next board election if feasible.
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