International Finance Corporation (IFC), a member of the World Bank Group, hosted its global flagship event, Ring the Bell for Gender Equality, on March 17 in collaboration with the Dhaka Stock Exchange (DSE) to mark International Women’s Day.

The event highlighted the private sector’s vital role in enhancing women’s economic participation, particularly in leadership positions, said a press release issued on March 18.

Organised in partnership with UN Women, the United Nations Global Compact and the Swiss State Secretariat for Economic Affairs (SECO), the initiative underscored the importance of gender diversity in corporate governance.

A key focus was the 2024 Corporate Governance Code, which mandates at least one female independent director on the boards of listed companies.

As a result, the share of female independent directors rose from 5 per cent in 2024 to 6.17 per cent in 2025, reflecting ongoing efforts to strengthen women’s representation in corporate leadership in Bangladesh, the release said.

‘We are extremely pleased that listed companies have positively embraced the requirement of female independent directors. The percentage of female board members among listed companies is 19 per cent demonstrating a positive move towards gender parity. We remain fully committed to closing the gender gap and promoting women’s role in leadership, particularly in listed companies in Bangladesh. This will help private sector companies create value and promote inclusive growth,’ said Farzana Lalarukh, Commissioner, Bangladesh Securities and Exchange Commission.

The Ring the Bell initiative reflects IFC’s broader commitment to gender equality in collaboration with key development partners.

Through its Environmental, Social, and Governance (ESG) project in Bangladesh—supported by SECO through the Embassy of Switzerland—IFC aims to increase women’s representation in leadership beyond the current 15 per cent.

Additionally, IFC plans to further leverage its client relationships to expand access to finance for female entrepreneurs, promoting greater inclusion in the country’s economic landscape.

‘To sustain the progress in increasing women’s representation on boards, we must support their rise into leadership roles across all sectors. IFC recognises the critical role of capital markets and the private sector in driving this effort. We are grateful for the ongoing support of global partners, stock exchanges, and local capital markets actors in prioritizing women’s economic empowerment and leadership. Empowering women economically strengthens businesses and builds more resilient communities—a key step for the sustainable growth of Bangladesh’s economy,’ said Martin Holtmann, IFC’s Country Manager for Bangladesh, Bhutan and Nepal.

This year’s International Women’s Day theme—For ALL Women and Girls: Rights. Equality. Empowerment—calls for action to unlock opportunities for women and girls to lead and innovate, the IFC release said.

Stock exchanges are uniquely positioned to drive this agenda by connecting companies, investors, and policymakers, playing a crucial role in mobilising the private sector to enhance women’s participation in business and economic development, it mentioned.

Corinne Henchoz Pignani, deputy head of mission at the Embassy of Switzerland, said that institutional investors were increasingly prioritising gender diversity and responsible investing, recognising that companies promoting gender balance tend to achieve better returns on equity, returns on total assets, and price-to-earnings ratios.

She expressed her appreciation for this year’s Ring the Bell initiative, emphasising its role in advancing a more inclusive world for women.

The Ring the Bell for Gender Equality Initiative – a global partnership that includes IFC, United Nations Global Compact, UN SSE, UN Women and The World Federation of Exchanges – advocates for the full and equal participation of all people to achieve the Sustainable Development Goals and create a world free of poverty on a livable planet, the release added.