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Tue 28 Aug 2018 12:15 PM

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Saxo Bank sees 139% rise in UAE-based female traders since 2016

The rise in UAE-based female traders reflects the success of government-led initiatives to empower Emirati women

Saxo Bank sees 139% rise in UAE-based female traders since 2016

Fintech specialist Saxo Bank has witnessed a 139% increase in its UAE-based female trader clients since December 2016, with women now constituting 10% of all of its online registered traders in the the country, marking an 8% uptake from the same period.

The bank announced the data in line with the fourth Emirati Women’s Day, held annually on August 28 to celebrate the formation of the General Women’s Union (GWU) on the same day in 1975.

The rise in UAE-based female traders reflects the success of government-led initiatives to empower Emirati women, according to Steve Weller, CEO of Saxo Bank MENA, who cited the UAE’s hosting of last year’s Women's Economic Empowerment Global Summit as a chief enabler.

“A long-time regional trendsetter, the UAE is assuming a global leadership position in spearheading initiatives which facilitate women’s increasingly diverse place in the workforce, whether in public and private sector boardrooms, or in entrepreneurial roles driving multi-sector start-ups. Consequently, the country’s progressive policies are empowering women to take charge of their own financial futures,” he said.

With one in 10 of all Saxo Bank traders in the UAE being women, there lies tremendous growth potential in the segment as more women take leading positions in the domestic workforce, added Weller.

Emirati Women’s Day, which was initiated by Sheikha Fatima Bint Mubarak, Chairwoman of the GWU, is held under the theme “Women on the Course of Zayed” in line with 2018 being the Year of Zayed.

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