The fourth edition of the Abaya Rally lit up the Dubai Autodrome on August 24, 2024, as over 200 women came together to celebrate Emirati Women’s Day with a powerful display of unity and empowerment. Organized by Orbit Events, this all-women drive showcased the strength and resilience of
women from various nationalities, all proudly driving in their Abayas. This year’s rally stood out for its sense of community and collective strength. The Club Circuit buzzed with the energy of determined women, each making their mark on the track. Adding to the thrill was a newly introduced drift passenger experience, providing an adrenaline-filled adventure that perfectly complemented the rally’s empowering atmosphere. The rally, which highlighted the participants’ commitment to progress and a sustainable future, featured an impressive range of vehicles, from sleek supercars and sports cars to 4x4s
and superbikes. The event was more than just a drive; it was a powerful statement of empowerment, as women proudly displayed their skills and commitment to shattering barriers. ZEEKR X, the premium electric compact SUV, took the spotlight as the flagship vehicle of the Abaya Rally, dedicated to celebrating and empowering women. As the official EV automotive brand of the event, ZEEKR—a global leader in premium electric vehicles, distributed by AW Rostamani Group (AWR)—epitomizes the spirit of innovation and advancement. The all-women drive was flagged off with ZEEKR X and ZEEKR 001,
pushing forward the brand’s commitment to style and sophistication, and showcasing its position as a leader in the EV segment. Roberto Colucci, Director of ZEEKR at AW Rostamani Group, commented: “We were thrilled to be a part of the Abaya Rally, which served as a testament to and celebration of the
diverse talent, creativity, and aspirations of Emirati women. From fashion to exploration and
innovation, the event showcased their boundless potential, aligning perfectly with ZEEKR
and AWR’s mission to drive progress and inclusivity. We were particularly proud to see
Eman Al Bastaki recognized for her exceptional leadership in Emiratization and her
dedication to empowering Emirati women in the automotive industry. By continuing to
support initiatives like these, we are building a future where local talent plays a pivotal role in
shaping the nation’s progress.”
Cannon Wang, Managing Director of ZEEKR MENA Region, remarked: "Being part of the
Abaya Rally was an honor for us as this event beautifully mirrored our values at ZEEKR —
innovation, empowerment, and a forward-thinking approach. This rally was not just a
celebration of motoring but a powerful statement of the strength, creativity, and
determination of women in the UAE. At ZEEKR, we are committed to driving progress and
providing platforms that empower individuals to showcase their unique identities. The Abaya
Rally was a perfect embodiment of this commitment, and we were pleased to be part of an
initiative that is paving the way for a more inclusive and sustainable future.”

The event celebrated Emirati Women’s Day, honoring Sheikha Fatima bint Mubarak’s vision.
It featured an elite panel of accomplished Emirati women: Maitha Alblooshi, Founder of Be
You and Agile Coach; Abeer Matrooshi, Professional Coach and Radio Presenter; Alanoud
Alhashmi, Emirati Businesswoman and Consultant; and Eman Ahmed Al Bastaki, HRBP and
Group Head of Emiratisation at AWRostamani Group. The event also recognized Emirati
Women of Achievement: Ayatelrahman Al Sharawy, Narcotics Expert with Dubai Women’s
Police, and Safa Almahri, the first Emirati woman with licenses in all seven driving
categories.
“It’s an incredible privilege to celebrate and honor the achievements of Emirati women at the
Abaya Rally and Emirati Women’s Day. This event is more than just a drive; it’s a testament
to our collective strength and a beacon for future generations. Let’s continue to break barriers
and inspire each other to reach new heights.”
—Panelist, Abeer Al Matrooshi, Professional Coach and Radio Presenter
“Empowering women is about creating opportunities and leading with courage. Together,
we’re shaping a future where every woman can achieve her dreams and make a lasting
impact.” — Panelist, Alanoud Alhashmi, Emirati Businesswoman, Futurist and Consultant
The event spotlighted a distinguished panel of automotive trailblazers, including Eman Thani,
a renowned professional biker; Nahla Al Rostamani, the pioneering Emirati woman to hold a
racing license; Nora Al Jassasi, an Emirati female rally driver; and Syeda Aisha Atif, a
mechanical engineer. Honorees included Fouzia Zahoor, the youngest woman to earn a heavy
vehicle license in the UAE and a celebrated truck driver, and Rana Hayek, an accomplished
engineer, mechanic, and influencer.
The rally also showcased a modest fashion segment, highlighting the Abaya's identity as a
symbol of strength and modern elegance. This segment beautifully blended traditional
craftsmanship with contemporary designs, celebrating cultural identity with a touch of luxury
and sophistication.
The event was in Partnership with ZEEKR and AW Rostamani Group and powered by
Castrol Edge, featuring Gold sponsors Al Ain Farms, Al Haramain Perfumes, Amaron,
Awrostamani Trading, and Silver sponsor Travel Wings. Support partners included
Champion Digital, Florist Partner FNP.ae, Hydration Partner Jeema, SoCL, Royal Sea Ent. ,
Girls Mechanic Team
The Abaya Rally concluded with a powerful celebration of the strength and achievements of
women in the UAE, uniting participants from all walks of life and showcasing their capacity
to drive change. The event highlighted the vital role women play in society, marking a
historic moment of empowerment and unity.

 Awqaf Abu Dhabi to launch a digital platform for the management of endowments and
provision of services, as well as focus on training programs for youth to encourage their
participation
 Awqaf Abu Dhabi is led by the vision to be the leading organization in the management
and development of endowments and minors’ funds, ensuring sustainable development
and socio-economic prosperity
 Setting a model in endowment management, Awqaf Abu Dhabi operates through the
circular economy model to grow endowments from ‘sustainable’ to ‘super-efficient’

Established under the leadership and guidance of His Highness Sheikh Mohamed bin Zayed Al Nahyan, UAE President, and operating under the Executive Council of the Emirate of Abu Dhabi, Awqaf Abu Dhabi is mandated with regulating, preserving and developing endowed assets, ensuring the distribution of profits, and creating sustainable value. Among the key initiatives by Awqaf Abu Dhabi is the upcoming launch of a comprehensive digital platform for the management of endowments and provision of services, as well as focusing on training programs for youth to encourage their participation in endowment management. The entity is also strengthening partnerships with universities and research
centers to support innovation in endowment management. To mobilise community participation and strengthen awareness and engagement, Awqaf Abu Dhabi has launched its new social media channels. The public can stay updated with the latest initiatives, announcements and other activities related to the organisation via Instagram (@adawqaf), Facebook (@adawqaf) and X (@adawqaf).
Setting a new model in endowment management, Awqaf Abu Dhabi operates through the
circular economy model with consistent returns on investment to ensure continued influx of
finances enabling it to operate in a sustainable manner and taking the concept of circular
economy to new heights. Each endowment covers its operational costs and generates revenue
to invest in other opportunities and have a positive impact on the society.
With the circular economy principle, Awqaf Abu Dhabi ensures that all endowments contribute
beyond the standard format. The adoption of this unique process allows the entity to grow the
endowments from sustainable to “super-efficient” investments that deliver perpetual returns
which in turn are used as per the Awqaf Abu Dhabi mandates. Other initiatives include
digitization of endowment records to facilitate data management and improve work efficiency,
launching endowment initiatives to maximize returns and diversify sources of income
These approaches reflect the global trends where there is an increased focus by investors with
a global study reporting that 65 percent of investors are diversifying away from traditional asset
classes over the next three years, with a focus on socially responsible investments. According
to the International Journal of Islamic Studies, waqf investment funds play a significant role in the
development of societies by catalyzing economic empowerment programs and project financing,
and highlights the perpetuation of endowment benefits, due to their permanence in supporting
and developing society.

HE Fahad Abdul Qader Al Qassim, Director General of Awqaf Abu Dhabi, said: “Since our
inception under the new identity of Awqaf Abu Dhabi, we have been focused on strengthening
the participation of the wider community in endowments and inspiring the community to partner
in a noble cause that has long-term benefits for all sections of the society. The spirit of waqf is
deeply ingrained in our culture and we are committed to maximising Waqf investments and
returns for the collective welfare of society.”
He also added: “We are transforming our services to be aligned with the aspirations of the
community, and to be in tune with the fast-changing trends. Accordingly, we are strengthening
our technological infrastructure to enhance operational efficiency and strengthening cooperation
with the private sector to develop innovative endowment projects. We believe it is part of the
social commitment and moral responsibility of all community members to be actively engaged in
endowment projects for the long-term prosperity and progress of all sections of the society.”
Offering expert advice on setting up new Waqf endowments, including legal and financial
structuring in compliance with local and international legislation, Awqaf Abu Dhabi also
oversees the assets included in Waqf. Committed to contributing positively to the well-being of
the society, the strategies and operations of Awqaf Abu Dhabi are aligned with the vision of the
nation and its leadership.
Awqaf Abu Dhabi also aims to strengthen cooperation agreements with governmental, private,
and civil community organizations, and to establish advisory councils with representatives from
different entities to support decision-making.
With an extensive portfolio of assets under management, including a robust portfolio of income
generating assets, Awqaf Abu Dhabi follow the highest standards in wealth management
practices and also develop programmes aimed at empowering the beneficiaries of the Waqf
through educational scholarships, healthcare services, and social welfare initiatives, among
others. Community members can contact Awqaf Abu Dhabi for more details on endowment
projects and investment opportunities.
Among notable recent partnerships, Awqaf Abu Dhabi and the Department of Health – Abu
Dhabi (DoH) launched a Dh1 billion healthcare endowment fund over five years to further
advance endowment work towards specialised healthcare needs of the community. The aim of
the endowment is to meet specialised healthcare needs in Abu Dhabi, and to provide
sustainable financing to create a positive social impact in the field of healthcare.

-Only 7.5% of women in the MENA region have a high level of investment education, yet
62% want to be more active investors, showing a strong desire to improve their financial
skills.

– Emirati women own 128,000 SME businesses, yet financial products made especially for
women would provide more women with access to start their businesses.

– 86% of employees want to work with companies with ESG principles, and 83% of
customers think companies must have ESG principles.

Women aiming for financial inclusion face several challenges due to cultural norms and traditional gender roles. The lack of appropriate legal and policy frameworks poses significant barriers to women’s economic empowerment. Low financial literacy rates among women and poor access to capital impose severe challenges towards achieving a solid foundation for financial independence among women. To discuss these issues threadbare, share potent insights and pave the way towards gender equality and economic independence amongst women in the Middle East, APM Capital hosted a panel discussion with industry experts to drive a meaningful change in the finance world. A selection of expert panellists including Umarrah Shafiq (Chartered Financial Advisor), Dagmar Turkova representing the European Women’s Association, Natalia Ishchenko of FlyInvest, Tola Denloye (Financial Regulation and Governance, APM Capital), Nada Sayarh from S.P. Jain School of Global Management and Katy Holmes from the British Chamber of Commerce Dubai contributed their views on the positive outcomes of women inclusion in asset creation and management. Tola Denloye, Financial Regulation and Governance at APM Capital said,”It is crucial to recognize women as equally talented architects of the future. It is simply a lost opportunity that half of the population is not given the same level of financial inclusion. It also requires changes in the policy and legal framework complemented by equal opportunities in securing jobs across markets to boost the overall efficiency and potential.”
Setting the pace for the insightful discussion, Alexandra Reyes, Transformational Empowerment
Coach and Moderator for the first panel followed through with a crucial sentiment on why
achieving financial independence could mean living a life of fulfilment and purpose for women.
The power of investing and wealth accumulation is an imperative tool for personal and societal
change, and its profound impact can secure the future, protect against inflation, and help close
the wealth gap. With steady progress in financial independence for women, Financial Literacy as
a foundation still needs further action to equip the Middle East’s women.

“Financial literacy among women in the Middle East remains underdeveloped, though progress
is being made. The situation is even more challenging in countries like Yemen and Iraq, where
fewer than 20% of women are financially literate. A recent survey by the Arab Monetary Fund
revealed that women in the region frequently feel marginalized from financial decision-making
processes within their households and broader economic contexts. Bridging this gap is
imperative, as financially literate women are more likely to engage in the workforce, initiate
businesses, and contribute meaningfully to economic development.”said Natalia Ishchenko of
FlyInvest. She further observed that the UAE is making great strides, as 80% of adult women in
the UAE have bank accounts, which is higher than the regional average and a positive sign.
Many women lack basic financial knowledge, so initiatives like ADCB MoneySense, ADIB”s
Smart Money Program, CBD’s Budget and Track, and the Ghaya Financial Literacy Program
strive to improve financial literacy and empower women to participate more actively in the
economy. Dagmar Turkova said, “Many women are familiar with managing personal finances like banking, insurance, and mortgages, but they often lack experience running businesses or handling more
complex financial matters unless they’ve studied business or worked in a family business. As per
a 2023 report, only 7.5% of women in the MENA region have a high level of education on
investment.” This rate indicates a considerable scope for improvement among women in
understanding higher-level investment. Despite this, 62% of women want to become more active
investors, wishing to improve their financial skills. A recent report revealed that Emirati women
own well over 128000 small and medium businesses, making them a considerable economic
force to reckon with. Financial products made especially for women will provide them with
better access to capital and funding, encouraging more women to start their businesses.
The panellists identified cultural norms and legal frameworks as critical barriers to achieving
financial independence for women in the UAE. Cultural expectations often limit women’s
participation in the workforce, and legal frameworks, such as Sharia-based inheritance laws, can
pose challenges to women’s financial autonomy.
Speaking of financial empowerment opportunities, the panel agreed that small business
ownership offered significant exposure. According to the International Finance Corporation,
women-owned businesses constitute about 30% of SMEs in the region yet receive just 7% of
total funding. Robust support systems are crucial for the success of women entrepreneurs as they
often lack access to the financial assets required to secure business loans. Microfinance
institutions and government-led finance solutions could fill the gaps, while women could use
mentorship and networking platforms to hone skills needed to scale businesses.
Environmental, Social, and Governance (ESG) was also an integral aspect of the panel
discussion. Furthering the topic, Tola Denloye said, “ESG is the lens through which we humans
can assess the broader impact of environmental, social, and governance decisions on society and
the environment. It is also the framework within which we advocate and champion the tenets of
each ESG principle”. While the world feels dominated by the Environmental factors in ESG
investing today, there is an increasing consideration of the social factors that evaluate a
company’s impact on customers, employees, local communities, and society in general. By 2030,

many investors believe Social will contribute more to shareholder value than Environmental.
This shift also means that Gender Equality needs further attention and action from the leaders.
Katie Holmes from the British Chamber of Commerce Dubai explained how critical ESG had
become; she said, “83% of consumers think that companies must have ESG principles, 91% of
business leaders believe they have a responsibility towards ESG and 86% of employees want to
work for companies with ESG principles.”With more and more stakeholders insisting on
including the ESG principles, it opens new vistas for women in ESG investing. With their natural
inclination towards societal and environmental concerns, women are in a vantage position to
guide and promote ESG investing through various ESG investment portfolios.
Concluding the discussion, the experts agreed that achieving sustainable impact requires a
change in approach and attitude. Women in the Middle East work across industries and
unleashing their potential in financial planning requires understanding cultural needs and
barriers. Financial literacy will allow women to comprehend and make well-informed financial
decisions and effectively manage their money, both personal and business funds.