RIYADH, 31 March 2005 — A Saudi women’s investment seminar here discussed business avenues for women in different areas, including the stock market.

Over 700 women attended the two-day seminar, which concluded yesterday with women relating their experiences in investing, the growing awareness of investing among women and the hurdles they had to overcome to succeed.

The seminar revealed that the awareness among Saudi women to invest and become a decision-maker in her own right is growing. This can be seen from the fact that bank deposits by Saudi women are worth, according to some statistics, SR27 billion. They also own 20 percent of Saudi mutual funds, while banks estimate that 30 percent of the new accounts are opened by women, as are investors in the stock market.

Experts say that about 40 percent of investors in real estate are women.

Despite all this, women face difficulty in accessing information concerning investment opportunities and in gaining consultations on the options available, especially in the stock market.

Academic and professionals in investment sector — Samra Al-Quez, a professor; Gena Hassan, national product supervisor at Al-Rajhi Bank’s ladies section; and Nawal Al-Rashed, a journalist with a Riyadh newspaper, presented papers at the seminar. They covered various types of investment issues, such as stocks, bonds and real estate as well as how to develop project investment opportunities. The seminar also included workshops. It focused on informing women about the basis for investment and educating them about various available opportunities as more and more Saudi women have begun to plan their finance and also invest prudently.

They however still feel hampered by the strict regulations and social restrictions that deprive women of a greater role in conducting her business and also invest.

Saudi businesswomen Huda Al-Jereisy said: “The first step in giving women a firmer footing in businesses and investment would be the issuance of new laws and rewriting of older legislations that hamper women’s participation.”

She said, the Saudi businesswomen acknowledge the efforts of the government to provide them with a conducive environment to participate, but more needs to be done.

She also said that the attitude of society toward Saudi businesswomen is starting to change and cited her own successes in several areas as an example.

Ream Al-Farsy, supervisor marketing section in Abraj Al-Farsy project (Al-Farsy Towers), said: “Saudi businesswomen have started taking decisions in investments, and are investing on their own in different projects without consulting their husbands or guardians. Fifty percent of the investors in their two last projects (Al-Garden Corniche and Al-Farsy Plaza) were women.”

She added: “No one can now say, with all these development, that the Saudi women are underprivileged or do not have the opportunity.”

Haifa Al-Harby, owner of a commercial services institution, said: “The institution concentrates on offering consultations to women on the options available for investment, whether they are stocks or real estate. “She however, admitted that the social perception of still not accepting women in business puts a burden on those who have entered the market, with a constant fight of going against the current.

The sales manager of IFA Hotel and Resort in Dubai, Fatma Bin Fahd, said: “There is a strong desire shown by Saudi women to go in a big way into real estate investment, and only because of that we have come to Saudi Arabia to tap this market.”

She asked the government and private companies to extend the investment culture to Saudi women by holding monthly conferences and seminars.