The long-awaited Commercial Companies Law will be issued by the end of the year, the Minister of Economy says.
Sultan Al Mansouri made the announcement while paying tribute to Ayman Heikal, a legal adviser, for his contribution.
He said the law was drafted “in accordance with international corporate best practices”, according to the state news agency Wam.
He said Mr Heikal had also helped to explain and interpret the law to meetings of the technical committee at the Ministry of Justice, the Ministerial Committee for Legislation, and the FNC.
The law will help the Government to diversify and move towards a knowledge-based economy, Mr Al Mansouri said.
Consisting of more than 383 articles, the law this year underwent the longest debate in the history of the FNC.
It was finally approved after 23 closed meetings and five public debates.
