Armenia Securities Exchange Rings the Bell for Gender Equality for the First Time in Armenia

Date: Tuesday, March 12, 2019

The Armenia Securities Exchange-AMX and Central Depository of Armenia rang the opening bell for Gender Equality, alongside 80 stock exchanges worldwide in collaboration with UN Women and UNDP.

The Armenia Securities Exchange-AMX and Central Depository of Armenia rang the opening bell for Gender Equality
The Armenia Securities Exchange-AMX and Central Depository of Armenia rang the opening bell for Gender Equality; Photo: UN Women

In partnership with the Federation of European and Asian Stock Exchanges (FEAS), and UN Women Georgia, the Armenia Securities Exchange and Central Depository of Armenia joined the Ring the Bell for Gender Equality initiative to promote gender equality and help businesses, especially banks and investment companies understand their pivotal role in achieving Sustainable Development Goal 5 and the Women’s Empowerment Principles.

In Armenia, the GDP would increase by 14% if gender equality in the private sector could be closed. Hayk Yeganyan, CEO, Armenia Securities Exchange, said: “Women make up to 52% of our employees. Women make 54% of traders working with the stock exchange. Nowadays they hold over 38% of tech jobs in Armenia and it is no wonder that the IT and financial sectors are recognized as most stable and relatively more developed ones within the Armenian economy. This shows how important women’s participation is.”

The event provided a space to highlight the importance of women’s equal participation in the labour market, and Armenuhi Hovakimyan, FEAS Deputy Secretary General said: “It is the first time the Federation of Euro-Asian Stock Exchanges joins the initiative and the first time we will ring the bell for Gender Equality in Armenia. Raising awareness for the importance of gender equality which is Sustainable Development Goal 5, we are doing step forward to encourage girls and women to be educated, confident and brave. This year, the theme for the Global Ring the Bell for Gender Equality Initiative is Think equal, build smart, innovate for change. I can’t agree more.”

“Stock exchanges around the world set the standards for private sector to adhere to, and it is important that they promote gender equality and Women’s Empowerment Principles. Gender equality is good not only for sustainable development but also for economic growth,” said Mehjabeen Alarakhia, Programme Specialist, UN Women.

The event was hosted by the Armenia Securities Exchange AMX, and was attended by 16 organizations, including 9 banks and 7 intermediary service providers.

The initiative was launched as part of UN Women’s Regional Project “Women’s Economic Empowerment in South Caucasus” funded by the Swiss Agency for Development and Cooperation (SDC), and the Austrian Development Cooperation, which is managed by UN Women Georgia and implemented in Armenia by UNDP.