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The UAE stock markets get some Mambo number 5MENA

The UAE stock markets get some Mambo number 5

It looks like Beyoncé isn’t the only one reveling in a major win for women – a new requirement will now enforce all listed companies in the UAE to have at least one female director on their boards.

There have been a series of measures implemented across the business sector in the country recently to drive female representation at the highest levels. Currently, women sit on boards of only 28 out of 110 firms listed on UAE stock markets – so there is obviously still a long way to go. By making it a requirement, the Securities and Commodities Authority is actively pushing for the empowerment of businesswomen in the country.

why it matters
According to McKinsey & Company, achieving gender parity in the workplace in the GCC could add an astounding $830b to the regional economy. Since it’s pretty hard to argue with the numbers, enforcing a quota will ensure that businesses (as well as society) reap this benefit!