Abu Dhabi's Aurora50 joined forces with five leading financial institutions in the UAE to improve female representation at a board level in the Emirates.
Partner organisations include the Abu Dhabi Global Market, the Abu Dhabi Securities Exchange, the Dubai International Financial Centre, the Dubai Financial Market and Nasdaq Dubai.
“Collaboration and innovation within our financial sector have contributed significantly to the UAE’s position as a globally competitive market ... greater diversity will only serve to reinforce our standing,” said Aurora50 co-founder Sheikha Shamma Al Nahyan, state news agency Wam reported.
“With our newest partners on board, we will be able to increase momentum and [bring about] change. It is through such partnerships that we are able to grow our ecosystem and shape the future of women on boards.”
Under the agreement, the partners will be recognised as Founding Knowledge Partners and they will promote the initiative through their networks.
Founded last year, Aurora50 is a social enterprise that brings together different stakeholders in the search for solutions to global problems.
The participating financial centres and exchanges will also develop and deliver board-specific workshops, for the inaugural "20 for 2020" participants.
The 20 for 2020 initiative, which was launched by Sheikha Shamma in March, will offer 20 women the opportunity to take part in a one-year professional development course that provides them with board-level experience.
“Through our partnership with Aurora50, we intend to actively participate and support the 20 for 2020 board-level training programmes, workshops and events,” said ADX chief executive Khalifa Al Mansouri.
DIFC chief executive Arif Amiri said the free zone had “championed gender diversity and inclusivity since establishing operations 16 years ago. During this time, we have built a reputation for accelerating women into senior positions”.
More than 60 per cent of the DIFC's employees and 33 per cent of people working within its ecosystem are female.
Aurora50 will open discussions around board-level gender diversity with "The Board Summit", an online event that will be held on August 25 and 26. The event’s sessions include discussions on diversity and inclusion.
