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The financial services industry, like many others, has been grappling with the issue of gender diversity at leadership levels. Breaking this glass ceiling has become a top priority for organizations looking to foster inclusivity and equality. In response to this pressing need, the Fintech Hive at Dubai International Financial Centre (DIFC) has introduced AccelerateHer, a groundbreaking mentorship program designed exclusively for female professionals.
AccelerateHer is a pioneering initiative by the Middle East, Africa, and South Asia (MEASA) region’s first and largest financial technology accelerator. The program is strategically structured to connect aspiring young female executives with seasoned, accomplished mentors. Its core objective is to equip emerging female professionals with the essential tools and guidance needed to shatter the glass ceiling within the region’s burgeoning FinTech landscape.The gender disparity at the leadership levels of financial services has long been a matter of concern. Research conducted by LinkedIn identified the absence of women in leadership positions as a critical challenge that obstructs the career growth of female professionals within the financial sector. This realization has ignited a meaningful conversation within the industry and underscored the urgent need for specialized support services that can empower career-driven women to ascend to pivotal executive roles.Mentors participating in AccelerateHer are carefully selected from the DIFC FinTech Hive’s strategic partnership network, which includes renowned global financial organizations such as AXA Insurance, CIGNA, Emirates Islamic, HSBC, Standard Chartered, and VISA. The program, spanning eight months, commenced recently and is conducted in partnership with Cater Murray, a global specialist marketing and sales recruitment agency.
It will run until November 2023, providing ample time for mentees to absorb valuable insights and guidance.Raja Al Mazrouei, Executive Vice President of DIFC FinTech Hive, expressed her optimism about the initiative, saying, “Research shows that women remain significantly underrepresented in the upper levels of financial services, so we are very excited to launch today’s initiative under the FinTech Hive umbrella. I’m confident that AccelerateHer will complement our efforts by exposing the young female talent of the UAE to a diverse range of experiences that allow them to play a more influential role in the future of the industry.”The current scenario paints a stark picture of the gender gap within the Gulf Cooperation Council (GCC) countries. According to the ACCA Women in Finance report, women hold merely 2% of board positions across Bahrain, Kuwait, Oman, Qatar, Saudi Arabia (KSA), and the United Arab Emirates (UAE). The UAE itself witnesses women occupying a mere 17% of all executive roles within the profession.
The AccelerateHer mentorship program is poised to be a transformative force, offering invaluable support to ambitious female executives striving to break through the glass ceiling and ascend to leadership positions. Its focus on fostering diversity, empowerment, and inclusivity within the financial services sector is a significant step towards achieving gender equality in leadership roles.In a corporate landscape where diversity and inclusion are becoming non-negotiable imperatives, initiatives like AccelerateHer are catalysts for change. By providing emerging female leaders with mentorship, guidance, and access to experiences and networks they might not otherwise have, this program is nurturing a new generation of women poised to shape the future of the financial services industry.
