The UAE has disclosed plans to adopt new steps to develop its financial market. Facilitation for companies to buy back their own shares is currently under study.
In addition, a decision to raise the ceiling on bank lending against equity holdings has been taken. Sheikha Lubna Al Qasimi, UAE's Minister of Economy and Planning, has also asked companies to refund IPO subscriptions in two weeks to preserve market liquidity. The government will also regulate timings of initial public offerings.
