Thursday 18 July 2024
 
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Fazeela Gopalani

Gender diversity plays key role in firms’ profitability: ACCA

DUBAI, 23 days ago

Companies with higher gender diversity are 21% more likely to post above-average profitability making it vital for companies to tap the potential within the society and work towards gender-equality in the workplace, statistics show. 
 
In response to this, the Association of Chartered Certified Accountants (ACCA) and the Oman Association of Chartered Public Accountants (OACPA) held the Women In Finance: Stories from the Top event in Muscat, Oman recently, with over 90 delegates in attendance.
 
Women reinvest up to 90% of their income back into their families and communities, compared to 30-40% for men. This reinvestment plays a crucial role in lifting communities out of poverty and driving social progress. These insights remind us of the broader impact of empowering women in finance and leadership roles.
 
Beacon for all
“Women in Finance: Stories from the Top is not just a title; it's a call to action. It’s a beacon for all of us to gather, to share, and to learn from the experiences of those who have climbed the ladder and reached remarkable heights,” said Fazeela Gopalani, Head of Eurasia and Middle East, ACCA.
 
“Women in finance and leadership roles are not just participants in the industry, they are trailblazers, innovators, and role models. They demonstrate that leadership is not confined to a single mould but is diverse, multifaceted, and enriched by the unique perspectives that women bring to the table,” Gopalani added.
 
Of the world’s 500 biggest businesses, only 41 are led by women CEOs, according to Catalyst.  
 
In the Middle East, ACCA has been a catalyst for change, fostering crucial conversations, organising impactful events, and establishing the Women in Finance Forum. These events provide an open landscape where ideas flow freely and opportunities for women in finance flourish. ACCA’s commitment is not just a statement, but a series of steps, events, and conversations that collectively form a mosaic of progress. 
 
Valuable insights
Delegates heard from top industry leaders, participated in engaging Q&A sessions, and networked with peers from across the region, all of which provided valuable insights and inspiration.
 
Speakers included Ralph Khoury, Chief Financial Officer for Nissan United across the AMIEO Region; Sabrina Al Bakri, CFO of OQ; Balqees Sulieman Al Hassani, President of Knowledge Oman; Maha Mohammed Alhabsi, CEO of AI Tech Academy; Fathiya Sloum Rashid Al Maskari, Treasurer of OACPA and Training Director of ACFE Oman Chapter; ACCA’s Oman members advisory committee and OACPA members.
 
“In Oman, we have witnessed remarkable progress with women taking on significant roles in various sectors. The commitment of organisations like OACPA to promote and support women in finance is truly commendable. They have not only provided a platform for women to excel but have also been instrumental in driving policy changes that favour gender parity,” Gopalani said.--TradeArabia News Service
 



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