标签： Asia

A groundbreaking report titled ‘Discovery Series 2025: Women transforming financial services,’ jointly published by Heriot-Watt University and Grant Thornton, has shed light on the representation of women in senior leadership roles within the UAE’s financial services sector. The report, which serves as an evidence-based benchmark, highlights that women currently chair 15.8% of board positions across 73 listed financial companies in the UAE. This figure surpasses the UAE-wide average of 14.8% across all sectors, as per the 2025 GCC Board Gender Index, indicating that the financial sector is slightly ahead in advancing women’s representation at the board level.

The report underscores the critical contributions of women in key roles such as board directors, Chief Risk Officers (CROs), and Heads of Internal Audit (HIAs) across banks, investment firms, insurance companies, and fintech enterprises. These roles are pivotal in safeguarding the integrity of the financial sector and enabling sustainable growth, particularly as the UAE continues to diversify its economy and reduce its reliance on oil. In 2024, the UAE’s economy grew by 4% to Dh1.77 trillion, with the non-oil sector accounting for over three-quarters of the GDP. The financial industry alone contributed approximately 13.2% to the economy.

Despite these advancements, the report reveals significant gaps in gender representation. Eight of the 73 companies studied have no women on their boards, and only three out of 49 companies have a female CRO. Similarly, just six out of 60 companies have a female HIA, highlighting the need for proactive measures to enhance gender balance in leadership roles.

Hisham Farouk, CEO of Grant Thornton UAE, emphasized the importance of intentional progress in building a world-class, innovation-led economy. He noted that the Discovery Series serves as a benchmark to help industry, regulators, and boards track progress and actively close the leadership representation gap. Emma Smalls, UAE Head of Business Risk Private Bank at HSBC Middle East, echoed this sentiment, calling for continued focus on inclusive leadership to accelerate the journey toward diverse and resilient governance.

Professor Dame Heather McGregor, Provost and Vice-Principal of Heriot-Watt University Dubai, stated that the report aims to provide a clear, evidence-based picture of gender representation at senior levels in the UAE financial sector. She emphasized the financial industry’s responsibility to champion gender equity, given its progressive nature and significant role in the UAE’s economic transformation.

The 2025 Discovery Series, which can be accessed online, combines quantitative data and qualitative narratives to offer sector-specific insights into how women are shaping governance, risk, and reform from within. Through this initiative, Grant Thornton and Heriot-Watt University hope to inspire further action and accelerate the journey toward truly diverse and resilient governance in the UAE’s financial services sector.

The UAE Ministry of Finance (MoF) has unveiled a groundbreaking initiative allowing residents to pay federal government fees and fines in monthly instalments through the Tabby app. Announced on Tuesday, this move leverages the ‘Buy Now, Pay Later’ model, offering customers flexibility in managing their financial obligations. Under this arrangement, Tabby will settle the full amount with the relevant government entity upfront, while customers repay the sum in pre-agreed instalments. This service is optional, with the associated commission borne solely by the user. The partnership with Tabby aligns with the MoF’s broader strategy to enhance digital payment solutions, foster financial inclusion, and support the UAE’s digital transformation. Saeed Rashid Al Yateem, MoF’s Assistant Undersecretary for Government Budget and Revenue Sector, emphasized the ministry’s commitment to adopting cutting-edge financial technologies to improve customer satisfaction and provide secure, flexible payment options. Hosam Arab, co-founder and CEO of Tabby, expressed pride in supporting the MoF’s mission to make federal services more accessible across the UAE. This initiative underscores the UAE’s progressive approach to integrating modern financial tools into public services, ensuring convenience and efficiency for residents.

The European Bank for Reconstruction and Development (EBRD) has issued a stark warning about the economic repercussions of ageing populations, describing the trend as a ‘ticking time bomb’ for GDP growth. In its annual report released on Tuesday, the EBRD highlighted that declining birth rates and an increasing share of elderly citizens are already undermining economic progress in several nations. Emerging Europe, in particular, is projected to see a reduction in annual per capita GDP growth by nearly 0.4 percentage points between 2024 and 2050 due to a shrinking working-age population.

EBRD Chief Economist Beata Javorcik emphasized that post-communist countries are ‘getting old before getting rich,’ with a median age of 37 and an average GDP per capita of $10,000—far below the levels seen in advanced economies during similar demographic stages. The report identified multiple factors contributing to declining birth rates, including shifting social norms and the impact of motherhood on women’s career earnings. While many EBRD member states have implemented incentives to encourage higher birth rates, these measures have failed to produce significant or lasting results.

Migration, often suggested as a solution, remains politically unpopular in most regions. Additionally, public sentiment toward leveraging artificial intelligence (AI) to boost productivity is mixed. Javorcik argued that extending working lives through retraining and pension reforms could be the most effective strategy, though it requires candid discussions with voters about the implications of demographic shifts.

The report also noted that ageing leaders, who tend to prioritize pension protection and restrict migration, further complicate efforts to address the issue. Globally, the average age of leaders is now 60, significantly older than the median adult. In autocracies, this gap has widened to 26 years in 2023, up from 19 years in 1960.

For newer EBRD member nations like Nigeria, the focus should be on job creation and private sector expansion to capitalize on their current demographic dividend. However, Javorcik cautioned that this window of opportunity is fleeting, as birth rates in other parts of Africa are also declining. ‘These countries must act now to secure their economic future,’ she said.