Diversity on Board announces fellowship for Arab & North African future board leaders

Diversity on Board (DOB), an online platform that connects exceptional and under-represented Arab and North African talent to board directorship opportunities, has announced its inaugural Emerging Board Leaders Fellowship, powered by HSBC.

The fellowship is curated with a heavy emphasis on environmental, social, and governance (ESG) factors, with a programmatic perspective to support fellows in integrating ESG into their current work and future board service. The fellowship will also focus on the integration of emerging technologies in the context of the fourth industrial revolution and decentralization of the web.

“The Emerging Board Leaders Fellowship is designed to amplify the ESG and digital skills and accelerate the progress of candidates who are almost board-ready and need one final catalyst. We believe that by supporting these socially and environmentally conscious leaders with the skills for effective directorship, they will be in positions to advance the diversity, equity and inclusion agenda within the organizations and communities they serve,” commented, Iman Al Hindawi, CEO, Diversity On Board.

“Future fit boards need both ESG and digital transformation, which some standard programs lack in favour of focusing on more traditional topics. We also believe in gender equity and align with the 30% Club in designing a fellowship that is gender-inclusive and not only focused on women,” Al Hindawi added.

DOB is designed to accelerate the path to the boardroom for Arab and North African women and men identified as high-potential candidates and future leaders. Participants gain the necessary fiduciary, risk, environmental, social and governance skills to qualify as competitive and effective board directors.

“In an increasingly complex world, having a diverse and inclusive workforce will help companies to adapt and achieve their strategy and purpose,” said Sabrin Rahman, Managing Director and EMEA Head of Sustainability, HSBC. “The region has a pool of emerging Arab leaders that we are aiming to empower as they progress on their pathways to the boardroom.

“Our partnership with Diversity On Board will support building an inclusive environment where they can realise their potential and thrive. The fellowship will heavily emphasize climate risks and ESG issues to ensure fellows are able to create impact in their future roles in the boardroom. At HSBC, we have always sought to bring diverse people and cultures together – diversity and inclusion is a part of who we are, and it is vital to building a more sustainable business.”

Launched in 2020, DOB was created in response to the lack of gender equity in board representation across the Middle East and North Africa (MENA) region. A 2016 study by Shareholder Rights found that out of 1,178 publicly listed companies in MENA with full disclosures on the structure of their board of directors, only 21 percent had female directors represented at the board level. Out of the 248 companies with some female presence, only 16 companies had a board participation of women higher than 30 percent.

DOB’s program incorporates emerging and exponential technologies deemed critical to our changing world within the context of Industry 4.0 – the Fourth Industrial Revolution – and Web 3.0, the decentralization of the web. In addition to professional modules, fellows receive on-going mentorship and support towards board placement for up to 12-months post-program.

The World Economic Forum’s Climate Governance Initiative states the importance of embedding climate considerations into a board’s decision-making, and the understanding to act upon the risks and opportunities that the climate emergency poses to the success of their business.¹

The deadline for applications is January 15, 2022. Interested applicants can also register for an informational webinar taking place on 8 December 2021.

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¹ https://www.weforum.org/projects/climate-governance-initiative 

Fellowship Application:  www.diversityonboard.org 

About Diversity on Board

Diversity on Board is a 3BL Associates think-do-tank initiative, powered by our Diversity Champion HSBC, and the following Founding Partners: GudJuju, KPMG, Obai & Hill, the Women Power Summit, the Bahrain Economic Development Board (EDB), BMMI Group, the Manama Hub of the Global Shapers Community, and Zain Bahrain. 

About HSBC in the MENAT region

HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Turkey (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi British Bank (SABB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$68.9bn as at 31 December 2020.

© Press Release 2021