Top sustainability experts gear up for EmiratesGBC conference tradearabia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradearabia.com Daily Mail and Mail on Sunday newspapers.
UAE’s gross banking assets stand at Dhs3.172tr by end of January
16 Mar 2021 A view of the headquarters of the UAE Central Bank in Abu Dhabi. The UAE gross bank assets, including bankers’ acceptances, rallied to Dhs3.172 trillion by the end of January 2021, figures by the Central Bank of the UAE have shown.
Gross credit in the banking system likewise grew from Dhs1.779 trillion by the end of December 2020 to Dhs1.779.2 trillion in January 2021, with total bank deposits going up to Dhs1.876.3 trillion driven by a rise in residents’ savings, from Dhs1.884.5 trillion in December.
In the meantime, the apex bank announced that the Money Supply aggregate M3 edged down to Dhs1.768.7 trillion at the end of January from Dhs1.769.3 in December 2020. In the meantime, Money Supply aggregate M1 increased 2.3 pct to Dhs613.6 billion as compared to December 2020 due to an Dhs1 billion increase in monetary deposits and cash in circulation outside banks. Money
“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.
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The UAE Central Bank joined forces with social enterprise Aurora50 to improve the representation of women on the boards of public and private sector companies.
Under the arrangement, two entities will promote the exchange of information and build a strong pipeline of female talent.
UAE Central Bank governor Abdulhamid Alahmadi said yesterday that they will support the national agenda by engaging with the nomination committees of the boards of financial institutions to ensure a fair representation of women on their boards , as required by the regulator s corporate governance standards.
There are large gaps between the representation of men and women in leadership positions in banking – both at a corporate and regulatory level – around the world.
UAE Central Bank, Aurora50 Ink Deal to Boost Gender-Diversity albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.