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Saudi businesswomen’s deposits at local banks stand at SAR375bn

Indicative of major participation by women in various economic sectors such as retail trade, real estate and other services

The total value of deposits by Saudi businesswomen at local banks is estimated at SAR375 billion, an official reveals.

Saudi women have major participation in various economic sectors such as retail trade (33 per cent); real estate (26 per cent) and other services (26 per cent), said the secretary general of the council of Saudi Chambers, Khaled al-Oteibi.

In remarks published by Al-Eqtisadiah, Al-Oteibi urged Saudi businesswomen to invest their massive deposits in major investment and development projects that reflect positively on them in particular and on the nation in general.

The official highlighted the government’s ninth development plan, which called for the strong participation of women in the business sector and expanding women’s employment in the private sector.

He noted that the private sector employs 400,000 Saudi women, while female members of commerce and industry chambers reached 41,000.

He also pointed out that the number of companies owned by women now comprises 4.3 per cent of the total number of private sector companies in the kingdom while spending by women totalled SAR75bn a year.

(SAR1 = AED0.98, at the time of publishing)