Complex Made Simple

Shuaa Capital seeks approval to change composition of board

UAE-based investment bank, Shuaa Capital is planning to seek shareholders approval on July 19 to change the composition of its board by allowing more nationals from the GCC countries, Bloomberg has reported. Shuaa plans to amend Article 19 in the association of company so that "majority of the board members shall be nationals of the UAE and/or the GCC," it said in a statement. Previously, majority of the board members were required to be UAE nationals, it said.