Financial Supervision: Women’s representation in non-banking companies’ management increases to 25%

CAIRO - 30 October 2024: Rates of women's representation on the boards of directors of non-banking financial companies increased to 25 percent in 2023 compared to 22 percent in 2022, with 1,072 female board members, said Assistant Chairman of the Financial Regulatory Authority Dr. Mohamed Abdel Aziz.

 

The percentage of women in the position of CEO/Managing Director also increased to 10 percent in 2023 compared to 7 percent in 2022, with 17 female executive directors, Dr. Abdel Aziz added.

 

He further explained that the financing balances granted to female clients in the medium, small and microfinance activity by the end of the second quarter of 2024 amounted to about EGP 26.3 billion for a number of beneficiaries of about 2.2 million beneficiaries. 

 

Women acquired the market share of financing balances for female clients in 2024, ranking second at 46.8 percent, while they ranked first in terms of the number of beneficiaries at 56.7 percent.

 

Abdel Aziz's remarks came during his keynote speech at the Women Executives Conference, during which he reviewed the Authority’s interest in empowering women by giving them the opportunity to lead and participate in administrative decision-making, in addition to promoting equality between men and women when providing financing and benefiting from non-banking financial activities, in line with Egypt’s Vision 2030 and its strategy for sustainable development that seeks to build a just society that guarantees equal rights and opportunities between the sexes.