JEDDAH: Women in Saudi Arabia are taking more control of their finances in both their personal and professional lives, according to a leading UK finance expert.
Amy Bryant, deputy chief executive officer at Jersey Finance, said the knowledge on wealth management gained by the current generation of Saudi women would also “influence the approach future generations take toward their finances.”
Bryant was speaking on the sidelines of a women-only talk hosted by Jersey Finance, the global finance group.
More than 50 women attended the event, Jersey Finance’s fifth in partnership with the Department for International Trade — but this was the first female-only talk.
The event was organized in response to the growing demand by Saudi women for greater control over their financial future.
The event’s keynote speaker was Ida Beerhalter, co-head of IOME, a Riyadh-based private investment partnership of women principals from the GCC region.
Topics included: Learning about and managing finance as a woman; understanding and managing offshore accounts; wealth protection for the future and succession planning; living with newfound wealth; the impact of children’s decisions — financial and otherwise — on family wealth; and the effect of health on wealth and finances.
“As the Saudi landscape evolves, the level of enthusiasm displayed at events such as this shows that more women are looking to become involved in business, their own finances and that of their family,” Bryant said.
“Women are taking a much more direct and hands-on role in wealth management — or at least educating themselves more on the subjects — in the scope of both their personal and professional lives. This knowledge could also influence the approach future generations take toward their finances,” she said.
Jersey Finance was established in 2001 to promote Jersey and work with foreign direct investment. The non-profit company aims to create a safe and secure environment for investors and families, and also works to strengthen local and international companies.
The finance group has increased its investment in the region, in particular with Saudi Arabia.
In recent years, it has collaborated with the British Embassy in Riyadh and the British Consulate in Jeddah to host annual receptions, and also developed relationships with key industry professionals.