The UAE Ministry of Economy has issued a directive requiring private joint-stock companies owned by investors to provide at least one board seat to women. This decision, which will take effect from January 2025, aims to ensure gender equality and empower women in business.
According to Mona Al Marri, Vice President of the UAE Gender Balance Council, this measure will stimulate comprehensive economic development in the country.
Since March 2021, a similar requirement has been in place for companies listed on the country's stock exchange - they are required to have at least one woman on their board of directors. Studies have shown that the implementation of this rule significantly increased women's access to leadership positions. For instance, while women held only 29 board seats in listed companies in 2020, their number in management more than doubled to 77 by 2022. Additionally, since November 2023, the UAE has launched a campaign to increase the number of women working in the industrial sector.
It's worth noting that UAE representatives are members of the UN Women Executive Board, and in 2017, Lana Nusseibeh from the UAE was its president. In 2023, the UAE allocated an additional USD 15 million to this organization to promote gender equality and empower women and girls worldwide.