UAE Approves Crowdfunding Platform Operators

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, chaired the UAE Cabinet meeting, which was held at Expo 2020 Dubai.

His Highness Sheikh Mohammed also said: "We approved the Crowdfunding Platform Operators strategy in public and private sectors.. It is one of the best means to support the financing of new innovative commercial ideas and support entrepreneurs by financing their ideas."

The meeting approved a number of initiatives and legislations aiming at further developing UAE government work.

His Highness Sheikh Mohammed bin Rashid said: "Today, I chaired the last Cabinet meeting at Expo Dubai 2020. Over the past 6 months, the cabinet meetings were held at the largest cultural exhibition in the world, reflecting our vision to support this international event, locally and globally."

His Highness added: "We approved today a new law for cooperative associations in the UAE allowing them to be listed in our financial markets, attract strategic partners and introduces new forms such as digital and financial coops... Cooperatives are a successful economic model that can be built upon and developed."