Unlocking the economic potential of women is crucial for job creation and fostering inclusive growth in Sri Lanka. Despite progress in increasing the representation of women in corporate boardrooms, sustained advancement requires concerted efforts to eliminate barriers that hinder women’s access to employment and career development.

In a demonstration of their commitment to promoting women’s economic empowerment and leadership in Sri Lanka, the Colombo Stock Exchange (CSE), International Finance Corporation (IFC) — a member of the World Bank Group — along with global partners such as UN Women and the United Nations Global Compact, participated in a ceremonial bell ringing. This annual event, in line with International Women’s Day, advocates for women’s economic participation as a driver of sustainable development.

This year, women’s representation on CSE-listed boards increased to 13.7 percent, a slight yet notable rise from the previous year’s 13.4 percent. This improvement underscores ongoing efforts to enhance women’s leadership roles in Sri Lankan businesses and highlights the need for continued efforts to provide more opportunities for women to contribute at the highest levels of management and governance.

Nilupa Perera, Chief Regulatory Officer of the CSE, emphasized in her welcome address, “Women entering any employment space question whether there is a place for them within the company and its leadership. Our answer is a resounding yes, demonstrated through our actions, leadership, and events like this one. Studies consistently show that women who observe strong female leadership in senior roles are more likely to aspire to leadership themselves. Representation is not merely symbolic; it is transformative. Women in leadership exemplify what is achievable.”

Gevorg Sargsyan, Country Manager for the World Bank Group in Sri Lanka and Maldives, stated, “Sri Lanka’s future relies on inclusive growth, achievable only when the economy supports both men and women. Empowering women not only transforms individual lives but also strengthens families and communities. At the World Bank Group, we believe that job creation is the most effective path to dignity and poverty reduction. For this mission to succeed, women must be central to the workforce.”

Enhancing women’s economic empowerment can bring significant financial gains for the private sector, leading to improvements in economic, environmental, social, and governance outcomes across emerging markets. Organizations with balanced representation on their boards and executive teams are better positioned to make informed decisions, manage risks effectively, and create lasting, sustainable value.

During her keynote speech, Jayanthi Dharmasena, Managing Director of Hayleys Agriculture Holdings Ltd, remarked, “If this country desires inclusive growth, we must unlock the full potential and economic power of women. We must ensure women feel valued because without a conscious effort to support them and recognize their contributions to the economy, their motivation to engage will diminish.”

Nandini Sukumar, CEO of the World Federation of Exchanges, commented, “In honor of International Women’s Day, exchanges and CCPs are highlighting the importance of fostering inclusive financial markets. Our members are leading the industry in empowering women to invest and trade in secure and trustworthy environments, enabling them to finance their futures.”

This year’s International Women’s Day calls for actions to dismantle discriminatory laws, strengthen inadequate legal protections, and eradicate harmful practices and social norms that undermine the rights of women and girls. Stock exchanges play a pivotal role in this by connecting companies, investors, and policymakers to rally the private sector in increasing women’s participation in business and economic development.

The Ring the Bell for Gender Equality initiative—a global partnership that includes IFC, the 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 liveable planet. This year, 114 participating exchanges and CCPs are involved in the initiative.