The Dubai Business Women Council (DBWC) has issued a comprehensive report on recent discussions held during the second session of the Industry Insight roundtables, which focus on various economic sectors. The report offers an overview of opportunities, challenges, and growth outlooks for women in the finance and financial services sector. It also examines the UAE's current Fintech landscape and the role women play in navigating challenges and building the future of Fintech.
Participating in the initiative's second session were members of the council who are industry experts and specialists in Fintech, which has begun to take centre stage both in the region and across the world. The report includes an outline of the Fintech landscape and offers insights into the opportunities and challenges currently arising as the sector witnesses a transformative wave towards artificial intelligence, cryptocurrencies, and blockchain technologies.
According to the report, participants in the session lauded the government's smart transformation and highlighted the need for robust governance that ensures the security of digital transactions. They recommended that upcoming Fintech trends expand beyond financial dimensions to include a focus on carbon footprint management. Furthermore, they predicted a 20 per cent rise in digital activities, reflecting the transition towards a cashless economy.
The report shed light on an important aspect of the discussions - the underrepresentation of women in Fintech, which reveals the need for strengthened gender inclusion, particularly in high-level positions.
It also discussed key trends influencing the future of Fintech, which are based in technological developments. These trends include the boom in artificial intelligence and machine learning, the rapid adoption of digital payment methods, and the increasing influence of blockchain technology and cryptocurrencies. Alongside the growing focus on financial inclusion, these sector trends forecast a future with more personalised financial guidance, efficient payment systems, and projected changes to traditional banking services.
In terms of the UAE's current Fintech landscape, the sector is led by a number of key catalysts, including regulatory support from the public sector, governmental investment initiatives, and a robust talent pool specialized in technology, finance, and business. Other developments emerging on the scene are surging investments in Fintech, increasingly widespread startups, and the integration of Fintech into various sectors, from retail to healthcare to education.
In his capacity as a C-Level Finance professional, Edmond Shakal played a pivotal role as a co-chair during the roundtable discussion. Serving as a financial expert and advisor, he skillfully steered the conversation among attendees, shedding light on the current and future landscape of fintech and finance in the UAE. Nadine Halabi, Business Development Manager at DBWC, emphasized the significance of consolidating insights from the roundtable into a comprehensive report. This report serves to brief relevant parties on challenges in the field and opens avenues for discussions on alternative solutions, facilitating companies in enhancing their corporate practices and activities.
Halabi confirmed the Council's total commitment to creating an environment that supports the growth and development of business women and female entrepreneurs, informing them about the opportunities and challenges within their sectors. These efforts aim to empower Emirati women in establishing strategies that meet their needs, while helping them keep abreast of global variables within their fields of work.
The Industry Insight roundtable series is just one of the Council's initiatives to enhance the awareness of business women and female entrepreneurs on various topics. With this heightened awareness, the women of the UAE will be better equipped to advance and develop their businesses, improve their market research skills, and learn about new opportunities and means to benefit from them.
Established in 2002 under the umbrella of the Dubai Chamber of Commerce, the Dubai Business Women Council is the UAE's leading platform for the personal and professional development of business women in the Emirate of Dubai. It aims to support businesswomen and entrepreneurs taking their first steps in the world of business. The Council plays a vital role in enhancing the contribution of businesswomen to the country's economy and promoting economic development in all sectors of the business community.
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