Emirates: new stock market in the beginning of the next year

Financial sources in the United Arab Emirates affirmed the government's intention to establish an authority to take charge of establishing a stock market and another market for goods in 1998.

They added that the new market will be one of the biggest in the Gulf after an increase in the value of the shares of 28 companies in a non-official market to 90 billion dirhams (24 billion dollars).

Some restrictions placed on this market stem from commercial companies law number 8 of the year 1984 that limits the exchange of company founders' shares both in cash or in real estate, and the ban it places on the other exchange for the first two fiscal years of a company's existance.