Agreement signed to promote women's presence on board of listed companies

The Ministry of Human Resources and Social Development and the Capital Market Authority (CMA) signed a memorandum of understanding (MoU) to support and promote the presence of women on the boards of directors of companies listed in the capital market.

Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi, chairman of the Board of Directors of CMA Mohammed Al-Quweiz, and deputy minister for the labor sector Abdullah Abuthunain were present during the signing ceremony.

The ministry was represented by Hind Al-Zahid, deputy minister for the empowerment of women, in the signing of the MoU while CMA was represented by Abdullah Bin Muhammad, the undersecretary of CMA for listed companies and investment products.

The agreement aims to enhance cooperation between the two sides in supporting and empowering the presence of women on the boards of directors of companies listed in the capital market.

This will be through specialized training for women candidates; developing a guide for women who are in boards of directors of companies, and raising awareness about the importance of diversity in boards of directors that supports the decision-making process in the boards.

It is noteworthy that the ministry strives, through the conclusion of these agreements, to achieve the Kingdom’s Vision 2030, to support the objectives of the National Transformation Program, in building and developing partnerships with government agencies and the private sector to ensure coordination in joint projects. It also seeks to increase the percentage of national cadres’ participation and to raise the percentage of women’s participation in the labor market and supporting balance and inclusiveness in the Saudi labor market.