Dubai, United Arab Emirates, November 26, 2024 –  The Global Women’s Forum Dubai 2024 featured a panel discussion titled ‘Fintech for All: Harnessing Innovation to Benefit Women and Beyond’, which focused on how financial technology is reshaping opportunities for women and communities worldwide.

The panelists in the session included Hela Cheikhrouhou, Regional Vice President at the International Finance Corporation (IFC) for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan; Amnah Ajmal, Executive Vice President of Market Development at Mastercard for EEMEA; Mohammed Albalooshi, CEO of DIFC Innovation Hub in the UAE; Noor Sweid, Founder & Managing Director of Global Ventures in the UAE; and Neha Mehta, Founder of FemTech Partners in Singapore. The session was moderated by Dan Murphy from CNBC.

There was a consensus among the panelists that fintech solutions are a key enabler for women’s empowerment. The discussion highlighted how fintech is transforming industries, increasing financial inclusion, and providing women with greater access to essential financial services.

Hela Cheikhrouhou, Regional Vice President at the International Finance Corporation (IFC), underscored the vital role of fintech solutions in advancing financial inclusion, especially in underserved communities. She highlighted how these solutions can empower women by providing them with better access to essential financial services, thus driving gender equality and economic empowerment.

Amnah Ajmal, Executive Vice President at Mastercard, shared an early career lesson where her boss encouraged her to embrace challenges and focus on the potential outcomes, rather than fear of failure. She emphasised the importance of measuring impact and discussed how fintech, particularly cash digitisation, helps women in Africa protect their earnings and grow their businesses. Amnah also urged women to be confident in applying for jobs, noting that women often don’t apply unless fully qualified, unlike men who apply even when only partially qualified.

Mohammed Albalooshi, CEO of the DIFC Innovation Hub, highlighted the Hub’s initiatives to empower women in the financial sector. He spoke about programmes like ‘AccelerateHER’, which support women’s career growth and encourage the development of women-led startups. The AccelerateHER programme was launched in 2019 by the DIFC Innovation Hub to equip the next generation of women financial services professionals with meaningful advisory, as they embark on their career journey, supported by Dubai’s top talent and industry leaders. He emphasised that women entrepreneurs shape the impact they aim for.

Noor Sweid, Founder and Managing Director of Global Ventures, highlighted the disparity in venture capital management, noting that women lead only a small percentage of venture capital funds in the region. She also emphasised the rapid growth of the regional ecosystem and the expanding opportunities for women in the sector.

Neha Mehta, Founder of FemTech Partners in Singapore, emphasised the global funding gap for women-led fintech startups and how digital solutions can empower women financially. She highlighted that these solutions provide women with greater access to financial tools, enabling them to manage their finances more effectively and grow their businesses.

 

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About Dubai Women Establishment

Dubai Women Establishment (DWE) was formed as a statutory body of Dubai Government in 2006 under law no. (24) by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai. DWE aims to enhance the professional and leadership capabilities of women, increase their participation in the comprehensive development journey, and strengthen their role in shaping the economic and social future of Dubai, by proposing and developing relevant and impactful policies. DWE is headed by Her Highness Sheikha Manal bint Mohammed bin Rashid Al Maktoum, President of the UAE Gender Balance Council, President of DWE and wife of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court. DWE’s strategic plan for 2023-2027 includes three pillars: creating an enabling environment for women in the labour market, developing women leaders, and enhancing the quality of life for women in society, through which DWE seeks to achieve its vision of “Dubai as a pioneering model for women-friendly cities.” The new strategic plan focuses on contributing to the strengthening of supporting legislation and policies, consolidating partnerships and allowing women to influence locally and globally.

About Global Women’s Forum Dubai 2024

The Global Women’s Forum Dubai (GWFD) provides a platform to explore new strategies for enhancing gender balance and raising women’s participation in the economy and society worldwide. Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, GWFD reflects the UAE’s leadership in advancing gender equality and its commitment to the United Nations Sustainable Development Goals, particularly Goal 5: Gender Equality. Since its inception eight years ago, the forum has become a leading international gathering for fostering dialogue and collaboration to address challenges and opportunities for women worldwide. With a rich agenda featuring diverse discussions, transformative workshops, and impactful speakers, GWFD brings together thought leaders, policymakers, and innovators to inspire progress toward building a more inclusive and sustainable future. The 2024 edition of GWFD, themed The Power of Influence, takes place on November 26-27 at Madinat Jumeirah, Dubai, gathering over 6,000 participants, 250 speakers and 25 prominent figures and ministers from across the globe. The 130 panel discussions at the forum centre on three pillars: Future Economies and Societies, Collective Engagements and Actions, and Impactful Technologies and Innovations.