ABU DHABI: The UAE has raised the minimum age to start a business to 18. Earlier it was 21 years. UAE to introduce age relaxation under new commercial law Ministry of Finance informed. The commercial law also says that emphasis will be given to Islamic banking.
Under-Secretary of the Ministry of Economy Abdullah Al Salah said that the action is aimed at the business growth of the country. The scheme will pave the way for youth to enter the business at a very young age. With the lowering of the age limit, there will be relaxation in the board of directors and management of many companies.
Another move in the commercial law is the move to emphasize Islamic banking. The UAE aims to make Islamic banks key drivers of the nation’s growth. aiming at The new plan also has moves to make business advancements in the field of technology and digital field.