NAMA Talks Enhance Women's Role In Financial Stability And Economic Awareness

Emirati women are increasingly influencing the UAE's economy, particularly in business and finance. By 2024, they constituted 46% of the workforce and owned over 135,000 commercial licences, marking a 23% rise from the previous year. This growth highlights the need for financial and economic education to empower women to make informed decisions that secure their interests and ensure long-term stability.

NAMA Women Advancement has responded by launching its NAMA Talks series with sessions themed ‘Empowering Women through Financial Risk: Awareness and Understanding’. These were held in Sharjah city and Khorfakkan. Participants appreciated the sessions for enhancing their understanding of financial concepts and boosting confidence through discussions on avoiding fraud and debt.

The sessions emphasised key practices like documenting all financial transactions, thoroughly reading contracts before signing, and exercising caution with general powers of attorney. They also stressed dealing only with trusted entities and promptly reporting financial fraud. One participant noted, "What benefitted me the most was learning which authorities I can contact in case of fraud or if I need legal advice."

Judge Dr. Salama Rashid Al Ketbi, Head of the Judicial Inspection Department at the Sharjah Judicial Department, led discussions by presenting real-life cases related to financial rights and disputes. A participant remarked, "Seeing real-life examples made the legal concepts much easier to understand and apply in real life." The session's unique blend of legal insight and financial education received praise from attendees.

To ensure lasting impact, participants received a digital guide titled "Protect Yourself Financially". It provides actionable steps for managing financial risk along with a list of official entities for support. NAMA stresses that true empowerment starts with awareness. An informed woman is better equipped to protect her assets and make decisions that enhance her individual and household stability.

This approach aligns with global data. A McKinsey & Company study found that increased financial awareness enabled women to control 30% of funds in banks across Europe and the US, projected to reach 45% by 2030. The session on financial risk is part of a broader five-session series under NAMA Talks focusing on three themes: financial risk awareness, careers in STEM fields, and income generation using AI.

These themes reflect NAMA’s strategic vision to foster a community of informed women who actively contribute to inclusive economic development. By equipping women with knowledge in these areas, NAMA aims to cultivate empowered individuals who can shape both economic and social progress effectively.

With inputs from WAM