Women’s bank deposits in Saudi reach $16bn

The value of women’s bank deposits in Saudi Arabia has reached $16 billion, the president of the Council of Saudi Chambers revealed yesterday.

Speaking at the Second Saudi National Businesswomen Forum, Abdul Rahman Al-Zamil said: “The development in the vital and strategic sectors we are witnessing in Saudi Arabia opens greater horizons for investment, especially in light of the ambitious plans and investments adopted by the Kingdom which are currently being executed. The value of these investments has reached tens of billions of dollars across the various sectors.”

Adding: “Women’s investments are an important partner that must play a greater role in the structuring and building process.”

He expressed his hope that the forum would contribute to “the exchange of expertise and cooperation amongst businessmen and businesswomen in order to develop and improve the female investment sector. This sector can greatly contribute to the country’s economic development and increase the number of job opportunities for women, especially in light of the rise in female unemployment rates which have reached about 32 per cent in remote areas, while male unemployment rates are five per cent.”

Al-Zamil also mentioned the establishment of a coordination council for women’s work within the Council of Chambers. He said that he hopes the council will play a major and supportive role alongside the Ministry of Labour by providing suitable work opportunities for women. He also stressed the importance of the Council of Chambers’ role in providing and presenting work opportunities to women.