Companies With Greater Gender Diversity Report 21% Higher Profitability, New Study States

The lack of gender diversity in leadership positions is a global issue, with only 41 out of the world's 500 biggest businesses being led by women CEOs, according to Catalyst. However, research shows that companies with higher gender diversity are 21% more likely to experience above-average profitability.

Recognizing the untapped potential within society, the Association of Chartered Certified Accountants (ACCA) and the Oman of Chartered Public Accountants (OACPA) recently organized the 'Women In Finance: Stories from the Top' event in Muscat, Oman. The event aimed to address gender equality in the workplace and had over 90 delegates in attendance.

Empowering women in finance and leadership roles has a broader impact on society. 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 highlight the importance of empowering women in finance and leadership positions.

Fazeela Gopalani, Head of Eurasia and Middle East at ACCA, emphasized the significance of the Women in Finance: Stories from the Top event. She described it as not just a title, but a call to action for everyone to gather, share experiences, and learn from those who have achieved remarkable heights in their careers. Gopalani also highlighted that women in finance and leadership roles are not just participants in the industry but are trailblazers, innovators, and role models who bring unique perspectives to the table.

ACCA has been actively promoting change in the Middle East by fostering crucial conversations, organizing impactful events, and establishing the Women in Finance Forum. These initiatives provide an open platform where ideas can flow freely and opportunities for women in finance can flourish. ACCA's commitment goes beyond mere statements; it involves taking concrete steps, organizing events, and facilitating conversations that collectively contribute to progress.

The Women In Finance: Stories from the Top event in Muscat featured top industry leaders as speakers, engaging Q&A sessions, and networking opportunities. Delegates had the opportunity to gain valuable insights and inspiration from these sessions. The speakers included Ralph Khoury, Chief Financial Officer for Nissan United in 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; as well as ACCA's Oman members advisory committee and OACPA members.

Gopalani commended the progress made in Oman, where women have taken on significant roles in various sectors. She praised the commitment of organizations like OACPA in promoting and supporting women in finance. These organizations have not only provided a platform for women to excel but have also played a crucial role in driving policy changes that promote gender parity.