A qualitative leap in the representation of women on the boards of directors of public joint-stock companies

ABU DHABI, 16 JANUARY / WAM / The past three years have witnessed a record increase in the representation of women on the boards of directors of listed public joint-stock companies by 200%, as the number of female board members reached 141 in 2024, compared to only 47 female members in 2021, an achievement that… It reflects the Securities and Commodities Authority’s commitment to enhancing the position of women in the country’s securities sector.
According to a press release issued today, the amendment made by the Board of Directors of the Securities and Commodities Authority in the year 2021 to Resolution No. (3/R.M) of 2020 regarding the Governance Guide for Public Joint Stock Companies played a pivotal role in achieving this remarkable achievement, as the decision required joint stock companies. The listed public sector appointed at least one female member to its boards of directors, in a move that reflects the authority’s commitment to supporting gender balance and enhancing women’s participation in leadership and decision-making positions in the financial sector, which paved the way for achieving this exceptional percentage.
Her Excellency Dr. Maryam Butti Al Suwaidi, CEO of the Securities and Commodities Authority, stressed that achieving this leap in women’s representation on the boards of directors of joint stock companies reflects the UAE’s pivotal role in empowering women and supporting them to be an essential partner in the country’s sustainable economic development process, pointing out that this rise embodies the commitment The Authority adopts the best international practices in corporate governance, in line with its ambitious vision towards building a sustainable and comprehensive economy based on the diversity of leadership and enhancing the presence of women in decision-making positions, through the implementation of legislative and regulatory measures. Effective and supportive.
Her Excellency added that the Governance Guide for Public Joint Stock Companies in force in the country constitutes a major step in the process of enhancing women’s representation on boards of directors, as it played an important role in encouraging companies to adopt selection mechanisms that allow female competencies the opportunity to actively participate in the success and sustainability of companies.
She pointed out that this step contributed to achieving the balance and diversity required to enhance the efficiency of boards of directors, and achieving ideal integration among its members, which raises the quality of strategic decisions and ensures maximum benefit from all available competencies and skills, calling on companies to continue their efforts in providing more opportunities for female cadres. To assume leadership positions that support governance and promote comprehensive development, thus contributing to enhancing the UAE’s position and competitiveness on the global level.
For her part, Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, co-founder of Aurora 50, said: It is a great honor for me to witness this wonderful achievement of increasing women’s representation by two times on the boards of directors of public joint-stock companies in the UAE over the past three years, and this achievement It is a testament to the country’s firm commitment to promoting gender balance and encouraging female leadership in key sectors.
She added, “The cooperation between Aurora50 and the Securities and Commodities Authority has been pivotal in driving this transformation. Through our shared vision, we have worked hard to create opportunities, develop leadership capabilities, and pave clear paths for women to take their rightful place on boards of directors, and signing the memorandum of understanding in 2020 laid the foundation for this success.” “, stressing the power of national partnerships in achieving development goals.
She said, “This is just the beginning of our journey, and as we celebrate this major achievement, we reaffirm our commitment to enhancing diversity on boards of directors, improving corporate governance, and strengthening the UAE’s position as a global leader in gender balance.”
It is noteworthy that the Board of Directors of the Securities and Commodities Authority approved in March 2021 an amendment to Clause 3 of Article 9 of the Chairman’s Decision No. (3/R.M) of 2020 regarding the Governance Guide for Public Joint Stock Companies, requiring listed companies to have at least one female member in the board. Its boards of directors.

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