In a landmark achievement that demonstrates the firm commitment of the Securities and Commodities Authority (SCA) to promoting the role of women in the securities sector in the UAE, there has been a record increase of 200 percent in women’s representation on the boards of listed public joint-stock companies in the past three years. In 2024, women held 141 seats in boardrooms compared to only 47 seats in 2021.
The amendment introduced by the SCA Board of Directors in 2021 to Decision No. (3/Chairman) of 2020, which approved the Public Joint-Stock Company Governance Guide, had a major role in achieving this remarkable milestone. The decision requires listed public joint-stock companies to have at least one female member on their boards—a step that underscores the SCA’s commitment to advancing gender equality and promoting the role of women in leadership and decision-making positions within the corporate sector, thereby contributing to this impressive achievement.
Commenting on this achievement, H.E. Dr. Maryam Buti Al Suwaidi, CEO of the SCA, stressed that such a significant increase in women’s representation on the boards of public joint-stock companies highlights the UAE’s instrumental role in empowering women as key contributors to the sustainable economic development. She said that such an increase demonstrates the SCA’s dedication to adopting global best practices in corporate governance in alignment with its ambitious vision to create an inclusive and sustainable national economy centered on diverse leadership and a greater presence of women in decision-making positions, supported by the introduction of effective and robust regulatory and legislative measures.
Al Suwaidi said that the Public Joint-Stock Company Governance Guide, applicable across the UAE, is a significant advancement in enhancing women’s representation on corporate boards. It has been instrumental in encouraging companies to introduce selection mechanisms that enable competent women to actively contribute to corporate success and stability. She indicated that this move has contributed to achieving gender equality, which is necessary for improving the efficiency of corporate boards and fostering a harmonious collaboration among board members. This will enhance strategic decision-making and ensure the optimal utilization of all available talent and expertise. Al Suwaidi has called on companies to continue their efforts to open up more opportunities for women to assume leading positions that support government objectives and drive overall economic development, thereby promoting the UAE’s global standing and competitiveness.
For her part, Aurora 50 Co-Founder Sheikha Shamma bint Sultan bin Khalifa Al Nahyan said: “I am deeply honoured to witness this remarkable milestone—a threefold increase in women’s representation on the boards of public joint-stock companies in the UAE over the past three years. This achievement is a testament to the UAE’s unwavering commitment to advancing gender balance and promoting women’s leadership in key sectors.”
“The collaboration between Aurora50 and the Securities and Commodities Authority has been central in making this shift. Driven by our shared vision, we have worked tirelessly to create opportunities, develop leadership capacities, and provide a clear pathway for women to assume their rightful places on corporate boards. The memorandum of understanding, signed in 2020, established a solid foundation for this success. This emphasizes that national partnerships are powerful tools in pursuing development goals,” she said.
“This is just the beginning. As we celebrate this milestone achievement, we reiterate our commitment to enhancing diversity on corporate boards, promoting corporate governance, and reinforcing the UAE’s position as a leader in gender equality,” she concluded.
In March 2021, the SCA had amended Clause 3 of Article 9 of Board Chairman’s Decision No. (3/Chairman) of 2020, requiring listed companies to have one female member on their boards.
