These 4 Emirati women lead UAE’s powerful financial institutions

Image courtesy: CreativeDesignArt/ Getty Images

The UAE has made progress in empowering women economically, politically, and socially, and considers women to be key partners in sustainable development. Every year on August 28, the UAE celebrates Emirati Women’s Day – a day dedicated to acknowledging the many achievements of Emirati women and their contribution to the growth of the nation.

“On Emirati Women’s Day, I congratulate all Emirati women. We are all confident that women in our society – with the unlimited support of our wise leadership – are able to deliver more effort and success in all areas, especially sustainability,” said Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment.

Interesting facts

• Women in the UAE now occupy more than half of the workforce in the government sector,
• More than half in all stages of education
• Emirati women make up more than a third of the Cabinet
• Half of the members of the Federal National Council are women.

Against the backdrop of this year’s celebrations, meet the trailblazers making history.

Hana Al Rostamani

Designation: Group CEO

Company: First Abu Dhabi Bank

Al Rostamani has been at the helm of First Abu Dhabi Bank (FAB), the UAE’s biggest bank by assets a global, since 2021. With more than 25 years of experience in banking and financial services, Al Rostamani is the first female CEO in FAB’s history.

She oversees the banking group’s global footprint, which spans 20 markets across five continents.

“With its robust fundamentals, strong financial standing, and total assets surpassing Dhs1.1tn ($312bn), FAB is among the largest and strongest financial institutions globally,” Al Rostamani said in the bank’s Q2 earnings report earlier in July. FAB recorded net profits of Dhs4.2bn in the three months to June 30, a 61 per cent year-on-year (YoY) increase compared to the same period in 2022.

The bank has facilitated more than $20bn worth of sustainable projects to date, including $10.7bn in the first half of the year, achieving over 25 per cent of its 2030 target of $75bn. In October 2021, FAB became the first UAE and Middle East bank to join the Net-Zero Banking Alliance.

Al Rostamani is also chair of the Global Council on Sustainable Development Goals and a board member of Buna and the Institute of International Finance.

Rola Abu Manneh

Designation: CEO

Company: Standard Chartered UAE

Abu Manneh was appointed CEO of Standard Chartered UAE in August 2018, becoming the first Emirati woman to head a bank in the country. She is credited for transforming Standard Chartered Group’s business in the UAE into one of the biggest five markets for the banking group.

In November 2022, Standard Chartered UAE unveiled an Islamic Sustainable Account, which is used to fund sustainable projects.

Over the years, Abu Manneh has championed women’s empowerment and female entrepreneurship through different initiatives such as the Women in Tech accelerator programme. Under the Women in Tech programme, Standard Chartered UAE has accelerated four cohorts, comprising more than 20 startups, who have collectively raised $5m.

Abu Manneh is a member of the board of directors of the Dubai International Chamber and prior to joining Standard Chartered UAE, she was senior managing director and head of the corporate and investment banking division for the Abu Dhabi region at FAB.

Maryam Buti Al Suwaidi

Designation: CEO

Company: Securities and Commodities Authority

Al Suwaidi was appointed CEO of the Securities and Commodities Authority (SCA) by a federal decree in October 2021, becoming the first woman to occupy the position in the history of the authority. Under her leadership, the UAE securities regulator said in June companies that list green or sustainability-linked bonds or sukuk on the local market this year would be exempt from listing fees.

The SCA assumed the tasks of regulating, supervising and controlling virtual assets and related services in February as the country. The authority also partnered with the Abu Dhabi IPO Fund in March to increase the number of initial public offerings in the country and boost the depth of domestic capital markets while promoting financial stability.

Al Suwaidi was accredited as an assessor expert in evaluating anti-money laundering and terrorism financing systems by the Financial Action Task Force in September 2019, the first Emirati woman to receive this recognition.

Raja Al Mazrouei

Designation: Managing Director & CEO

Company: Etihad Credit Insurance

With a career spanning nearly two decades, Al Mazrouei joined Etihad Credit Insurance (ECI) as a board member in January 2022 and became the export credit agency’s managing director and CEO in November 2022 and January 2023, respectively.

Al Mazrouei has been instrumental in driving ECI’s transformational strategy while enhancing its operational efficiencies. Under her stewardship, the agency continues to support the UAE’s economic diversification agenda and empower SMEs in both local and international markets.

She also sits on the boards of several companies including digital bank Zand, Arab Bank for Investment & Foreign Trade (Al Masraf) and the Harvard Business School MENA Advisory Board. Previously, Al Mazrouei was executive vice president of DIFC FinTech Hive.

Read: Emirati women play a vital role in UAE’s financial and banking sector

Emirati women, Emirati Women’s Day, Raja Al Mazrouei, Maryam Buti Al Suwaidi, Rola Abu Manneh, Hana Al Rostamani, UAE