JEDDAH, 4 August — A number of Saudi businesswomen have criticized unfavorable regulations by the Ministry of Commerce and chambers of commerce and industry that discouraged them from investing in the country. They have claimed that such rules are to blame for the flight of at least SR21 billion capital abroad.
“Incentives for investment in neighboring countries on the one hand and various problems in their own country on the other have forced Saudi businesswomen either to invest abroad or keep their money in banks,” Al-Madinah newspaper yesterday quoted the businesswomen as saying.
Abeer Al-Qahtani blasted the obstacles being faced by businesswomen in the country. “We have to pay so much in government fees,” she said. “These obstacles have prompted us to dig for better investment opportunities elsewhere.”
Najoud Shadoukhi deplored the role of the Commerce Ministry and the local chambers in complicating investment procedures. Mirfat Al-Jumaie urged authorities to repeal a law requiring a male agent to represent businesswomen. “We should get freedom to follow up paperwork in government departments and take care of our businesses,” she added.
Reacting to the complaints, Muhammad Abdullah Al-Shareef, acting secretary-general of the Jeddah Chamber of Commerce and Industry, said the ministry as well as the chambers always encouraged investment by Saudi women. He said more reforms would be introduced soon to encourage domestic and foreign investors.
There are a large number of businesswomen in Saudi Arabia. Women also hold responsible positions in government agencies and private firms. A recent study has shown that the majority of heirs to family-owned businesses in the country are females — a fact that calls for greater involvement by Saudi women in managing business enterprises both directly and indirectly.
Many family-run firms are among the largest enterprises in the country in terms of assets, operations and manpower. There are at least 460 such establishments.
Alia Banajah, a shareholder of Banajah Imports Company, told Arab News that her company has assigned female members of the family to various managerial tasks in order to prepare them to assume greater responsibilities in the future. She hoped that the regulations pertinent to woman’s business activities would be changed allowing Saudi women’s direct involvement before Saudi Arabia joins the World Trade Organization.
Abdul Majeed Banajah, a prominent businessman, supported women’s active involvement in business activities, but without violating Shariah.
Maha, daughter of renowned Saudi businessman Ahmad Hassan Fitaihy, said she has become a board member of the Fitaihy Holding Company. Fitaihy emphasized the need to train women to assume managerial positions.
Muhammad Abdullah Al-Jumaih, agent of General Motors in the Kingdom, gave his own reasons for his daughters running businesses within the perimeters set by Islamic teachings. “We should not forget that certain customs and traditions in society curtail women’s role in managing commercial establishments. Some families deny daughters key roles in businesses if they marry outside the family.”
Faisal Al-Anqari said women could run businesses if they have necessary skills and qualifications. He said the role of a male agent would prevent businesswomen from directly supervising their businesses.
Mujahed Al-Sawaf, a lawyer, welcomed moves to allow women to manage their businesses. “I have a daughter studying law abroad. After her graduation I will hand over my law office to her. Maybe she can do a better job.”
Majed Gharoub, another prominent lawyer and attorney, said Islam has granted woman the right to own and manage her business. “As long as women have the ability to run their own businesses, complying to Islamic regulations, I do not see any problem.”
