The Banking Executive Magazine - March 2024 Issue

ISSUE 183 MARCH 2024 the BANKING EXECUTIVE 1 Editorial BANKING ON INCLUSION: ARAB BANKS DRIVE GENDER EQUALITY AGENDA In the dynamic landscape of global economics, the imperative of gender equality exceeds simple moral considerations, evolving into a strategic necessity vital for sustainable growth and financial resilience. Extensive research and empirical evidence consistently underscore the fundamental role of gender diversity in decision-making processes, yielding heightened levels of innovation, adaptability, and ultimately, profitability. This imperative holds particular relevance for banks operating within the Arab world, where the cultivation of an inclusive environment stands as a cornerstone for unlocking untapped talent reservoirs and driving operational excellence to new heights. Amidst ongoing economic progress across the Arab world, notable barriers persist, hindering the full participation of women in various sectors. Nevertheless, there is a tangible surge in the entrepreneurial zeal among women, presenting banks with unique opportunities to assume catalytic roles in fostering gender- inclusive economic growth and empowerment. As stewards of economic progress and custodians of financial stability, Arab banks find themselves at a pivotal juncture. By embracing the principles of gender equality, banks can not only fortify their competitive positioning but also significantly contribute to broader societal advancement and sustainable development objectives. Through a strategic focus on championing diversity and empowerment, banks have the potential to drive inclusive prosperity, ensuring a brighter future for the region and its diverse communities. In conclusion, the imperative of gender equality for Arab banks extends beyond conventional boundaries, embodying a strategic imperative essential for navigating the complexities of today's global economic landscape. By fostering an environment that embraces diversity and empowerment, banks can effectively position themselves as agents of positive change, driving inclusive growth and resilience across the Arab world. Dr. Joseph Torbey, Chairman - World Union of Arab Bankers