JEDDAH, 26 December 2005 — The first website serving women stock investors was unveiled at the weekend. As women in the Kingdom join in on the relatively recent phenomenon of widespread public participation in the Saudi stock market (Tadawul), they are in need of cultivating themselves in how to successfully wheel and deal.
The website, hamorat.com, is aimed at educating Saudi women investors in when and what to buy and sell. The website is the collective brainchild of 12 young women, all with economic backgrounds. With degrees in business, economy or accounting, the founders have taught courses in investment in Riyadh, Jeddah, Taif and other cities in the Kingdom.
“We are a group of 12 women who aim to cultivate and help women in investing in stocks,” said Amal, hamorat.com’s spokesperson. “The Saudi market is one of the world’s most ideal stock markets. It is ranked as the 11th stock market in the world. Women make up about 60 percent of Saudi investors.”
“We chose this word (for the website) to address the Saudi woman investor. ‘Hamorat’ is a slang Arabic word that means ‘female stock investor’. It is a common term that is used a lot in the stock market,” said Amal. (“Hamorat” literally means “big female fish”.)
The website offers news and recommendations regarding Saudi stocks that can be received by SMS on cell phones. The service started this week free of charge and after that it will be SR400 a month.
“This charge will help us improve our website and the services we offer,” said Amal.
The website also includes a discussion forum and free courses about Saudi stocks.
Although the website is named after women investors, it is open to men as well.
“Our group named the website after Saudi female investors and was directed to them in order to encourage them to know more about stocks,” said Amal. “However, men and others are welcome to surf the website. It is open to everyone.”
