The bank referred to the continuing rise of female investors as “irrefutable,” stating that improvements in financial technology and increased access to investment tools and resources had been significant contributors.
Since 2017, Saxo Bank has recorded an 18 percent increase in the share of women among its new trading clients in the UAE.
“In the past five years, we have witnessed women increasingly becoming financially independent, while also playing a crucial role in making financial decisions – a role and responsibility traditionally linked to the men of the family, however, we still have a long way to go and so are encouraging more women to free themselves, to have confidence in themselves, and to start investing now,” said Tara Tyan, regional head of marketing – MENA at Saxo Bank.
The country recently celebrated Emirati Women’s Day, with a variety of initiatives announced to celebrate and empower women of the UAE. The theme of this year’s women’s day highlighted the journey in women empowerment which began around 50 years ago when the late Sheikh Zayed bin Sultan Al Nahyan prioritized gender equality and highlighted people to be the true wealth of the nation.
Although women are typically more involved in budgeting and saving, data has previously indicated that women tend to shy away from making investment decisions, with responsibility typically carried on by a spouse or family member. But research has shown that increasing the contribution of women to the economy is beneficial. In order to encourage women to participate in the economy, the UAE has already implemented a number of government initiatives and reforms. As a result of these actions, the World Bank previously recognized the UAE as a regional leader in gender balance.
