ISTANBUL

The British Consulate General in Istanbul held a panel on empowering women in economics and finance, participated by British Ambassador to Ankara Jill Morris and Turkish Central Bank’s deputy governor Hatice Karahan on Tuesday.

Morris stated that organizations fully utilizing women’s talents and what they can bring to the table make better decisions, manage risks more effectively, and are able to achieve more sustainable growth, citing "evidence from across the world."

"But progress is not the same as parity, and women remain significantly underrepresented in senior economic roles, particularly in finance and academia," she said, "Today, women make up no more than a quarter of economists in the finance sector, and just 16% of senior leaders."

Morris noted that only 22% of faculty members in the world’s leading economics departments are women.

"I am honored and delighted to be joined by an outstanding panel of women who are shaping economic and financial policy in Türkiye and beyond," she said.

"Inequality becomes apparent as we move up the career ladder"

Hatice Karahan, deputy governor of the Turkish Central Bank (TCMB), said that women make up "51% of the workforce in the Turkish banking sector," speaking at the panel.

"This is encouraging news," she said, adding: "However, inequality becomes apparent as we move up the career ladder."

"In many countries, managerial positions and C-suite roles in the industry are still largely dominated by men," she noted.

"Then, why do women tend to advance more slowly, even when they have similar qualifications and performance," she asked. "The answer does not lie in a single cause, but rather in a set of interconnected factors."

She added: "But the challenges we are discussing today are mainly rooted in mindsets.

"Implicit biases continue to reinforce the obstacles and gaps women face in economics and finance across the globe."

*Writing by Emir Yildirim