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Banking on Women… How financial inclusion and empowerment can unleash growth?
Women’s presence in senior management positions and boards is remarkable, supported by UAE’s proactive approach and government directives promoting gender balance
- PUBLISHED: Thu 28 Aug 2025, 9:51 AM
- By:
- Adnan Alawadhi
UAE is well-known for its forward-looking approach and leading position in different ways of life. The banking and financial sector is a shining example, with many firsts achieved and retained over the past years.
One of the top achievements that fill us with pride is women’s empowerment and financial inclusion.
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In the UAE’ financial industry, women are not just participants; they are increasingly shaping it as clients, employees, and leaders.
Emirati women now account for 76% of UAE nationals working in the banking sector, reflecting the success of Emiratization programs, under the supervision of the Central Bank of the UAE as well as the country’s accelerated efforts to enhance its leading position as regional and global financial hub. Overall, women constitute over 51% of the total workforce in the UAE banking and insurance sector, outpacing the global average for the financial industry, which is below 50%.
Women’s presence in senior management positions and boards is remarkable, supported by UAE’s proactive approach and government directives promoting gender balance.
In addition, women represent a key enabler of banking and financial industry as valuable partners and clients.
As the UAE is accelerating its transition to become a knowledge based and innovation-led economy, two factors are vital to ensure a sustainable growth: financial inclusion and women’s empowerment as they have potential to unlock ample opportunities in the banking and financial services sector, with ripple effect on socio-economic development.
UAE has made great strides in building a robust and competitive financial system. However, significant segments of the population remain underbanked.
Today, around 66% of women have bank account, compared to 90% of men, indicating a room for improvement bearing in mind women are increasingly engaged in economic activities and play an increasingly active role in the workforce and entrepreneurial landscape.
Emirati women constituted 34.6% of the UAE workforce in 2024, up from 32.5% in 2023 and account for 18% of all entrepreneurs in the UAE, with 77.6% of women-owned businesses being led by women under the age of forty, reflecting significant role of young businesswomen in boosting the economy.
Emirati women own over 128,000 SMEs, with more than 135,000 commercial licenses, and represent 43% of Abu Dhabi Securities Exchange’s (ADX) investors. These figures highlight the role of women as a growing force in the financial services as account holders, investors, and business owners.
While these are impressive achievements, our ambitions have know no limit, and we are doubling down our efforts to further enhance financial inclusion and women’s empowerment as part of our initiatives to propel the UAE’s economy by expanding the customer base for banks and financial institutions, deepening savings, improving credit allocation, boosting financial resilience, and stimulating entrepreneurship.
UAE has already set financial inclusion and gender equality as top priorities, and is implementing policies and legislation to promote these goals, including initiatives for women’s economic empowerment. The Central Bank of the UAE is promoting financial inclusion through various initiatives and strategies to ensure that all segments of society, including women, startups, and SMEs have access to financial services and products.
Over the past years, our banks have developed their offerings to women by tailoring products and services that address the specific financial needs, aims, and challenges faced by women. These include specialised mortgages, auto and personal loans, dedicated business banking accounts and advisory services for female entrepreneurs. With increasing number of women owning and launching SMEs, tailored products and services for female in businesses are needed.
Wealth management also present a fertile environment for banks to offer services designed for women investors as their growing participation in investments. Banks need to continuously innovate solutions and tailor financial services to reflect the needs of women at different stages of life, career, and business. By increasing access to capital for women entrepreneurs, we can support the growth of startups and SMEs, a key pillar of the UAE strategic objectives.
At NBQ, we remain committed to enable women to reach their full potential, offering digitally accessible, female‑focused products and services. We believe financial inclusion and women’s empowerment are strategic imperative to unleash growth and cement the UAE’s position as leading financial center.
Adnan Alawadhi is Chief Executive Officer of National Bank of Umm Al Qaiwain (NBQ).