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“The strong link between gender-balanced boards with better governance and financial performance is well-established, both across academia and within corporate boardrooms.”
Achieving full gender parity in workforce participation in the GCC could add $830 billion to the region’s economy, or 32 per cent of gross domestic product, according to research by McKinsey & Company.
Currently, 28 out of 110 UAE-listed companies have at least one female director on their boards, but women only hold 29 out of a total of the 823 available positions, or 3.5 per cent of the total, according to Aurora50.
“Our hope is that boards will take this as an opportunity to review their nomination processes. It currently takes more effort to identify female talent, but the pipeline is available and growing,” Sheikha Shamma said.