Suzanne Locke

This paper presents the GCC Board Gender Index Report 2026, the third annual, comprehensive assessment of gender representation on the boards of all publicly listed companies across the Gulf Cooperation Council (GCC). Using a census date of 1 January 2026, the study constructs a fully de‑duplicated dataset covering 759 companies, 5,755 board positions, and 4,671 individual directors across six GCC countries. Board roles are analysed irrespective of executive status and classified into twelve standardised industry sectors.

The results indicate continued but incremental progress in female board representation. Women held 7.0 per cent of board positions in 2026, up from 6.9 per cent in 2025, with increases observed both in the number of women directors and the number of board seats they occupy. The United Arab Emirates remains the regional leader for the third consecutive year, with 15.0 per cent of board positions held by women, followed by Bahrain (10.5 per cent) and Oman (7.0 per cent). Sectoral analysis shows that the financial and industrial sectors account for the largest absolute number of female appointments, although substantial cross‑country and cross‑sector variation persists.

A key contribution of the 2026 report is its introduction of international benchmarking, comparing GCC board gender representation with five Asian markets—Hong Kong, India, Indonesia, Malaysia and Singapore—that share broadly comparable stages of market development and governance reform. The analysis demonstrates that emerging markets with targeted regulatory interventions or disclosure‑based approaches have achieved materially higher levels of female board representation, providing realistic medium‑term benchmarks for the GCC.

This report, a collaboration between Grant Thornton UAE and Heriot-Watt University Dubai, explores the evolving landscape of women’s leadership in the UAE’s financial services sector. Analysing 73 listed financial institutions, the study highlights both progress and persistent gaps in gender representation, particularly in critical governance roles such as Chief Risk Officer (CRO) and Head of Internal Audit (HIA). While women now occupy 15.8% of board seats, their presence in CRO (6%) and HIA (10%) roles remains limited, with eight institutions having no women on their boards. The report situates these findings within the broader context of the UAE’s economic diversification and ambitious national strategies, including Emiratisation and fintech innovation. Through interviews with senior women leaders, the report illuminates the challenges and opportunities facing women in risk, audit, and compliance, emphasising the importance of inclusive talent pipelines and supportive organisational cultures. The authors call for continued efforts to strengthen diversity at all levels, arguing that a richly diverse leadership is essential for the sector’s resilience and the nation’s long-term ambitions. This evidence-based analysis aims to inform policy, inspire dialogue, and catalyze action towards greater gender equity in UAE financial services.