In line with international best practices
A partnership between the Central Bank and Aurora 50 to enhance the representation of women on boards of directors
Abdul Hamid Saeed: “Ensure fair representation of women on the boards of directors of financial institutions, in accordance with the corporate governance system”.
The UAE Central Bank signed a memorandum of understanding with the Aurora 50 Social Foundation, to strengthen cooperation frameworks between them regarding achieving gender balance in the state’s boards of directors.
The MoU between Central Bank and Aurora 50 aims to accelerate gender diversification efforts, raise women's representation in boards of directors, and enhance their participation in public and private sector boards of directors, in line with international best practices, through the exchange of knowledge and the development of women's talents. By providing a platform for knowledge exchange, through conferences, meetings, seminars, and specialized workshops, as well as supporting and developing skills.
The Governor of the UAE Central Bank said,
Abdul Hamid Muhammad Saeed Al-Ahmadi, “The UAE has made great strides over the past decade in raising the participation of women in the public and private sectors,” stressing that achieving gender balance is an integral part of the national agenda of the “UAE Vision 2021”.
He added: “As the regulatory body for licensed financial institutions in the country, we are committed to supporting the national agenda, by working closely with the nomination committees of the boards of directors of financial institutions, to ensure fair representation of women on their boards, in accordance with the corporate governance system issued by the Central Bank.”
In turn, Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, co-founder of "Aurora 50", said: “The work we do in (Aurora 50) and our initiative (Path 20) aims to develop flexible and high-performance administrative boards based on competency, diversity and inclusion.” .
She emphasized that the partnership with the Central Authority seeks to strengthen the link between women's participation in boards of directors and national economic development, which is a positive step in the right direction, expressing her hope that it will succeed in encouraging other institutions to accelerate their efforts towards more female representation at the level of boards of directors.
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