WAIFC members follow up on comprehensive pledge to promote gender equality in the financial sector

WAIFC members and observers follow up on the comprehensive pledge signed in New York in October 2023 to promote gender equality in the financial sector.

BRUSSELS, BELGIUM, January 21, 2025 /EINPresswire.com/ -- Following an initial understanding between WAIFC Members and Observers from October 2023, the pledge served as an important step towards reinforcing gender equality within the financial sector, in line with the mission of WAIFC to foster collaboration on important topics between the world’s financial centres.

Over 20 international financial centers around the world have come together to share best practice in attracting and retaining talent into financial services with a specific focus on women. The World Alliance of International Financial Centers (WAIFC) has led this work thanks to the drive of our new Chair, Lamia Merzouki, by developing a Gender Pledge and Compendium of Best Practice which were launched in New York in October 2023.

We are delighted to announce several new signatories that joined the pledge in recent months, underscoring their commitment to this important mission. The pledge serves as an important step towards reinforcing gender equality within the financial sector and aligns with the mission of WAIFC to foster collaboration to address shared challenges between the world’s financial centres. The pledge includes a charter that ensures:

1. The integration of gender equality into all our activities.
2. an adequate level of representation of women in the management of our organizations and promotes the progression of women at all levels across financial services firms within our ecosystem;
3. that an executive team member in our organization is responsible for gender diversity and inclusion;
4. that financial services leaders within our ecosystem advocate for gender diversity priorities and actions;
5. a yearly action plan on activities to promote gender equality within our organization and our ecosystem.

We have already seen international financial centers (IFCs) adopting new approaches to recruitment, improving childcare facilities, embracing more flexible work practices, implementing recognition awards, and showcasing success stories. Many of these examples have been shared by WAIFC members in a paper entitled “Women in Finance - Compendium of Good Practice”. The paper goes beyond the benefits of gender diversity and equality and provides practical examples of how IFCs around the world are working within their social and economic context to deliver change.

WAIFC is keen to further support financial centers in becoming leading champions of gender equality. By collaborating globally, efforts to build an inclusive and more sustainable future can be accelerated. WAIFC warmly invites other financial centers to join us in 2025 as we work together to drive meaningful and lasting change.

Signatories include:
1. Abu Dhabi Global Market
2. Astana International Financial Centre
3. Berlin Finance Initiative
4. Busan Finance Center
5. Casablanca Finance City
6. Dubai International Financial Centre
7. Economic Development Board Mauritius
8. EnterpriseNGR, Lagos
9. FinanceMalta
10. FinCity.Tokyo
11. Financial Services Authority Oman
12. Frankfurt Main Finance
13. Future Finance Poland
14. Hong Kong Financial Services Development Council
15. Jersey Finance
16. Kigali International Financial Centre
17. Lujiazui Financial City, Shanghai
18. Luxembourg for Finance
19. Strategic Reforms Agency, Republic of Uzbekistan
20. Stuttgart Financial
21. TheCityUK
22. Two Rivers International Finance and Innovation Centre, Nairobi
23. World Business Chicago

Nicola Watkinson, Managing Director, International, TheCityUK (coordinator of the paper) said: “there is a global competition for talent and our industry must continue to be an employer of choice, responding to changes in work practices and creating a culture that attracts and retains women, so we access the best talent and reflect the profile of the communities we serve”.

Lamia Merzouki, COO of Casablanca Finance City, added: “this compendium serves as a call to action, showcasing proven practices that promote gender diversity in finance. It highlights how inclusive leadership and targeted initiatives can truly drive innovation, resilience, and sustainable growth within the financial sector. Together, we can shape a future where equality is not just an aspiration, but a reality”.

Abdulrahim Osman
WAIFC
osman@waifc.finance
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