WOMEN ON BOARD
“When women lead, we all benefit. The evidence is clear: diverse boards lead to better business outcomes, and to better societal outcomes.” Melinda Gates
The push for more women in leadership positions goes beyond the quest for equality—it’s about creating stronger and more innovative businesses. One of the most effective ways to bring this change is by increasing the representation of women on corporate boards. In 2003, Norway became the first country to implement a policy requiring at least 40% women on the boards of publicly listed companies. This was soon followed by France and Germany. Over time, this became a global movement and an integral part of corporate governance standards and legal framework.
In Dubai, “Women on Board” initiative was introduced as part of the UAE’s broader strategy for gender equality in the workplace. The initiative aimed at increasing female representation on corporate boards, particularly in public and private joint-stock companies. Since 2021, listed companies in the UAE have been required to have at least one female director on their boards, reflecting a progressive step in regional governance standards.
In 2024, the Dubai’s Ministry of Economy expanded this policy to cover private joint-stock companies, requiring them to appoint at least one woman to their boards by January 2025. The mandate is outlined in Ministerial Resolution No. 137 of 2024. It applies to private join-stock companies and requires that at least one woman be appointed to the board after the current terms expire.
Including women on boards is anticipated to provide fresh and diverse perspectives, strengthening decision-making processes and improving the overall performance of these companies. Abdullah bin Touq Al Marri, Minister of Economy, highlighted that “This decision will bring added value to private joint-stock companies, enhancing their institutional performance by drawing on the insights and experiences of successful businesswomen in the country”. The initiative aligns with the UAE’s goal of positioning itself as a leader in gender balance in the MENA region.
About the author
Saima Shafi Rana is Senior Compliance & Governance Consultant at Fintech Services. She is a seasoned professional with more than a decade of experience in capital markets regulation, compliance, corporate governance, and business development across sectors including financial markets, technology, and fashion. She is a certified board director with extensive experience serving on the boards of listed companies and brings strong expertise in regulatory frameworks, international growth strategies, and strategic leadership at the board level.
Aligned with the UAE’s vision, Fintech Services provides a comprehensive solution to help companies seamlessly meet their compliance mandates while strengthening their board’s strategic capabilities. Our team includes highly experienced female directors who are well-versed with industry standards and bring a wealth of expertise. Our directors are prepared to make significant contributions at the board level, supporting companies not only in achieving compliance but also in enhancing the depth and impact of their governance.