Dubai / WAM
The Dubai Women Establishment (DWE) has signed a Memorandum of Understanding (MoU) with Dubai Financial Market (DFM to foster bilateral collaboration and further women’s economic empowerment by encouraging their participation on the boards of listed companies.
The move follows directives of HH Sheikha Manal bint Mohammed bin Rashid Al Maktoum, wife of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, President of the UAE Gender Balance Council, and President of the DWE.
The MoU stipulates that the two parties will support the ‘Women in Boards’ initiative and cooperate in implementing programmes designed to increase the number of women in higher positions across the listed companies. It aims to help women become effective leaders and positively engage them in the business world, so they can contribute to the national development by means of joint activities, awareness drives, educational campaigns, agreements and research and database exchange.
It was signed by Mona Al Marri, Chairperson of the Board of Dubai Women Establishment and Essa Abdulfattah Kazim, Chairman of Dubai Financial Market in the presence of representatives from both parties.
The agreement will enable both parties to exchange knowledge and expertise, as well as boost the professional development of women in the financial sector within an aim to encourage more women to take up decision-making positions.
Al Marri highlighted the importance of collaborating with a key financial institution as DFM in laying a solid foundation that supports greater participation of women on the boards of listed companies.
Commenting on the MoU signing, Mona Al Marri said, “This partnership reflects the commitment of Sheikha Manal bint Mohammed bin Rashid Al Maktoum to support women’s economic empowerment by enhancing their participation at work. Working with DFM will further boost the Dubai Women Establishment’s pioneering initiative “Women in Boards” that aims to enhance the presence of Emirati women on the boards of listed companies; as well as contribute to achieving UAE’s target of 20 percent female presence in corporate boardrooms of listed companies by 2020.”
“Promoting Emirati women’s participation in the business world and enabling them to excel as effective decision makers are top priorities. We are confident that the agreement will facilitate an increase in the number of females in leadership roles and on boards, leading to a positive impact on companies’ performances and contributing to the continued development of UAE’s economy,” Al Marri added.
Emphasising Dubai Women Establishment’s substantial efforts to empower women and qualify them for greater Board membership, Kazim said, “DFM is delighted to collaborate with DWE in strengthening the role of women in various sectors and particularly on Boards of Directors of DFM-listed companies. These efforts stems from the national strategy and directions of the wise leadership regarding gender balance and paving the way to strengthen the presence of UAE women.”
“UAE national women have always been actively participating in various businesses and the legacy of their participation in traditional activities in the past has certainly created a strong foundation for today’s achievements. The wise leadership constantly emphasises empowering women and due to this support, Emirati women have surpassed their counterparts in the region in terms of not only education, government work and management of private and family businesses, but also occupying ministerial and parliamentary top jobs. Undoubtedly, the highly appreciated efforts of Dubai Women Establishment in line with the wise guidance of Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, have played a pivotal role in reinforcing the gender balance and empowering women to play a leading role over the past years” Kazim added.
“DFM is looking forward to collaborate with DWE in order to achieve a stronger presence of women on Boards of Directors over the coming period. We aim to build upon DWE’s diversified database that includes women from various sectors to provide publicly listed companies the opportunity to engage larger number of women as Board members. In fact, DFM has always been committed to empowering women. Most of DFM Boards of Directors included women members since the inception and females represent 60% of its workforce. Similarly, we look forward to seeing a stronger presence of women on the Boards of Directors of various listed companies in the future,” he concluded.