Marginalising women’s role in economy is a mistake

The role of women in the economy and how their economic power should be harnessed was discussed at the American Chamber of Commerce’s ‘Women in Business’ conference with all panellists agreeing that the role of women in the economy should not marginalised.

President of the American Chamber Anis Aclimandos said it would be a mistake for any country to marginalise 50% of its population, referring to women and their role in economic development.

Yehia El-Husseiny, corporate governance officer at the International Finance Corporations (IFC), said that the even though 25% of women are employed, approximately two-thirds of Middle Eastern companies enforce laws that discriminate against women.

“Companies with women on their board have made a return in assets three times higher than companies without women in their boards,” he added. Companies with female representatives have a return on equity two times higher than those that do not have women, El-Husseiny noted.

The IFC executive added that board meetings attended by women have more discipline than ones without female attendance.

“Women come to meetings more prepared [than men],” he added.

Nadia El-Saeed, CEO of Bank Al-Etihad in Jordan, discussed the low economic participation of women in Jordan. She said women’s participation accounts for just16%, which affected the gross domestic product by approximately 10%.