Female participation in boardrooms inches up to 19%

Women's participation in the boardrooms of the listed companies on the Dhaka Stock Exchange (DSE) has increased to 19% in 2023 from 18% a year ago, reveals a study by the International Finance Corporation (IFC).

At an event 'Ring the Bell for Gender Equality' on Tuesday at the DSE building in the capital speakers also informed women's boardroom participation as independent directors were still stuck at 6%.

Independent directors are not shareholders of companies and are appointed due to their proven track record as experts in certain fields to add value to boardrooms as well as look after minority shareholders interest.

To celebrate International Women's Day, IFC partnered with the DSE, UN Women, United Nations Global Compact and the Swiss State Secretariat for Economic Affairs (SECO) to 'Ring the Bell for Gender Equality.'

The annual global initiative with nearly 120 stock exchanges around the world highlights the importance of gender equality for economic development and growth every year.

Speaking at the event, Corinne Henchoz Pignani, Deputy Head of Cooperation, Embassy of Switzerland in Bangladesh said "Excluding women from the digital world has shaved $1 trillion from the gross domestic product of low- and middle-income countries in the last decade. Without action, this loss will grow to $1.5 trillion by 2025."

Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam, Commissioner Dr Shaikh Shamsuddin Ahmed, DSE Chairman Professor Hafiz Md Hasan Babu, Martin Holtmann, IFC Country Manager for Bangladesh, Bhutan and Nepal spoke on the event attended by a large number of entrepreneurs and capital market professionals.

The Chittagong Stock Exchange also rang the bell for gender equality at its head office in Chattogram on Tuesday.