Bahrain - A proposal to allow representatives of shareholders in joint companies or ventures to appear on their behalf with a written authorisation was approved by the Shura Council yesterday.

The proposed amendment to the 2001 Commercial Companies Law was presented by five members led by financial and economic affairs committee chairman Khalid Al Maskati.

Meanwhile, Shura Council members unanimously approved a royal decree issued during their recess in October by His Majesty King Hamad amending the same law.

It would enable more monitoring of commercial affairs, prevent tax evasion and money laundering.

Meanwhile, the Shura Council and parliament’s financial and economic affairs committees held separate meetings to prepare questions for a joint meeting today on the 2019-2020 national budget. They are set to have a second round of talks with the government on Wednesday.

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