BANKING

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cent versus nine per cent) than their male counterparts.
Governments in the GCC region have amplified their
efforts to address the existing challenges faced by
female entrepreneurs and have introduced a range of
empowerment measures across the political, business,
and educational arenas. These include market regulator
improvements, lower entry levels and exit barriers,
increased representation in chambers of commerce, and
a greater focus on female literacy. In the last decade, the
female literacy rate in the GCC region has been on a par
with or above most developing nations across the world:
nearly 100 per cent among 15- to 24-year-olds and
almost 90 per cent among 25- to 64-year-old women.
From another viewpoint, improvement in social
conditions, driven by changing demographics and
patterns in gender diversity in the private sector, is a
key factor motivating women to work. As a result, the
GCC region has witnessed an increase in workforce
participation of adult females over the age of 25 with
a 6.8 per cent compound annual growth rate in the
last decade.
Women in society have taken extraordinary measures
to address the issues of balance between family
obligations and work commitments. The Dubai
Women’s Establishment has launched a variety of
successful initiatives aimed at creating an environment
where women have the opportunity to build their
careers without compromising on their role as mothers.
The Central Bank of the UAE has served as a strong
facilitator encouraging greater participation of UAE
36 February 2017 BANKING & FINANCE U.A.E