Women in business: How diverse perspectives deliver greater profitability
A 2019 report by the UK Financial Conduct Authority analysed gender diversity at senior levels in UK financial services that looked specifically at role, firm, and sector. It found that gender diversity is low at the industry level overall, with women making up just around 17 per cent of FCA-approved individuals.
If the number of women in financial organisations is low in developed economies, it is even lower in the emerging markets – but the issue isn’t lost on policymakers. The UAE federal government introduced new legislation in 2021 to require at least one female director on the boards of all listed companies. The current ratio is low: The five biggest companies listed on the Dubai Financial Market and the Abu Dhabi Securities Exchange have 84 board members, of which only three are women.
The current state of play is starkly examined by a social enterprise called Aurora50, which helps leaders, companies and boards to support the United Nation’s Sustainable Development Goal 5 of Gender Equality. It points out that while women are present on the boards of 28 out of 110 listed companies in the UAE, they make up only 3.5 per cent of all board positions.
Women in business: how diverse perspectives deliver greater profitability.