So­ci­ete Gen­erale launches fi­nan­cial lit­er­acy club for UAE women

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So­ci­ete Gen­erale Mid­dle East launched a net­work­ing and fi­nan­cial lit­er­acy club, in an ef­fort to em­power busi­ness­women with fi­nan­cial de­ci­sion-mak­ing.

The French lender, which has been ac­tive in the re­gion for about two decades, held its first ses­sion of “The Cir­cle” at the Dubai Cham­ber of Com­merce and In­dus­try last week.

The event brought mem­bers of the Dubai Business Women Coun­cil (DWBC) to­gether to ex­plain avail­able op­tions that can help busi­ness­women with fi­nan­cial know-how – a cru­cial com­po­nent for business suc­cess.

Se­nior ex­ec­u­tives from So­ci­ete Gen­erale dis­cussed a range of top­ics de­mys­ti­fy­ing bank­ing, shed­ding light on broader con­cepts in Is­lamic fi­nance, wealth man­age­ment and the gen­eral state of af­fairs in the Ara­bian Gulf. The ini­tia­tive is part of the bank’s com­mit­ment as a sig­na­tory to the United Na­tions’ Women’s Em­pow­er­ment Prin­ci­ples – seven steps that busi­nesses can take to in­crease and im­prove the so­cial, eco­nomic, po­lit­i­cal and le­gal strength of women in the work­place, mar­ket­place and com­mu­nity.

So­ci­ete Gen­erale Mid­dle East meet fo­cused on ed­u­ca­tion, train­ing and pro­fes­sional devel­op­ment for women.

“Em­pow­er­ment through ed­u­ca­tion and knowl­edge shar­ing is a key way to have a pos­i­tive im­pact on so­ci­ety. As a bank, fi­nan­cial lit­er­acy is a nat­u­ral en­deav­our through which we can sup­port the com­mu­nity among which we live as well as the wider goals of the UAE lead­er­ship,” Richard Soundard­jee, the chief ex­ec­u­tive of So­ci­ete Gen­erale Mid­dle East said.

“We are very proud to part­ner with the DBWC and launch ‘The Cir­cle’ for its mem­bers,” he said adding that the suc­cess of the in­au­gu­ral ses­sion is a re­flec­tion of the im­mense ap­petite for fi­nan­cial ed­u­ca­tion and in­for­ma­tion.

The UAE aims to rank in the top 25 coun­tries in the world for gen­der equal­ity by 2021. The coun­try es­tab­lished a Gen­der Bal­ance Coun­cil in 2015 to im­ple­ment ini­tia­tives that re­duce the gen­der gap and pro­mote gen­der par­ity. Of the coun­try’s 30 cab­i­net min­is­ters in the coun­try, eight are women.

“This col­lab­o­ra­tion builds on DWBC’s strate­gic part­ner­ships aimed at pro­vid­ing women in Dubai and the UAE with the best re­sources to achieve their full po­ten­tial,” said Raja Al Gurg, the pres­i­dent of DWBC.

A 2015 sur­vey by Stan­dard & Poor’s showed that women are more fi­nan­cially lit­er­ate than men in the UAE, as op­posed to vir­tu­ally every other coun­try in the world where men are ei­ther equal to or more fi­nan­cially lit­er­ate than women.

Ac­cord­ing to the Emi­rates In­sti­tute for Bank­ing and Fi­nan­cial Stud­ies women ac­count for 70 per cent of 10,000 UAE na­tion­als em­ployed by the bank­ing in­dus­try in the coun­try. The ra­tio is the high­est of any sec­tor in the coun­try, ac­cord­ing to the in­sti­tute.

This col­lab­o­ra­tion builds on DBWC’s strate­gic part­ner­ships aimed at pro­vid­ing women in Dubai and the UAE with the best re­sources to achieve their full po­ten­tial RAJA AL GURG Pres­i­dent of the Dubai Women’s Business Coun­cil

Reuters

Dubai Is­lamic Bank’s women-only branch in Deira. The UAE aims to rank in the top 25 coun­tries in the world for gen­der equal­ity by 2021

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