All things women and money in the Arab world!

Meet my great friend Shaima Al Tamimi. Shaima and I first worked together at a property development company in Abu Dhabi and then went into business together in retail consulting here in the UAE.

We have since moved on, but some things remain the same – Shaima has a better understanding of the modern Arab woman and social media than any other woman I know. Shaima is pictured here with Olivia Palermo at “Shop With Olivia Palermo” in Qatar. The event was hosted by HauteMuse Magazine & Matches Fashion of London in collaboration with stylist Iman Pasha.

Q1: Shaima, can you tell us about your childhood?

I grew up in Abu Dhabi with 5 siblings. Growing up in a big family was fun because there was never a dull or boring moment at home. Meals are most enjoyable when shared – sharing food is sacred in the Arab culture and commonly shared together on a Friday.

Q2: Have you found that the workplace has changed for Arab women in recent years?

Yes, definitely. The workplace has developed considerably in the past few years, particularly by accommodating the growth of women. I believe this begins with the support from the federal and local governments. Our leaders today have emphasized the empowerment of women, their education and participation in the workforce. Q3: What is a misconception of Arab women?

That’s a tough question. Often the greatest misconception is when people place Arab women all into one basket. For example, culturally, Khaleeji women differ when compared to Arab women from Lebanon, Syria, Egypt and Iraq. Arab women from different countries differ with diverse cultures and characteristics.

The modern Arab woman today is worldly just like her Western counterparts. We are very social and are active on social media – we tweet, Facebook and connect with our friends and networks online, but we are also private and respectful of our traditions.

Many of us are running our own businesses and pursuing multi-faceted lives, just like many Western women today. Culturally, we wear the abaya, which has often been misrepresented in films, as a form of suppression. The abaya is a cultural dress that depicts modesty, no different to a sari. In recent years, it has also become an inspiration to fashion designers. We have some amazing modern labels for the abaya, such as the Das Collection.Pictured here is a digital milestone – Burberry live streaming their Prorsum show on iconic digital Coca Cola screens at Piccadilly Circus, London February 2011.

Q4: How can you describe the buzz of social media, namely Twitter, amongst Arab women?

It’s definitely proven to be a platform for everyone to have a voice. Twitter is a great outlet to debate and share your opinions on topical issues with like-minded people. It is also a place to socialize, network and widen your contact base.

Brands are acknowledging the reach and connectivity of the medium in communicating with their fan base. Burberry was a game changer in fashion when they streamed the February 2011 Prorsum show- not just to those with seats at fashion week, but to the world, reaching many fashion enthusiasts across the Arab world and beyond.Pictured above is the typical food served inside the Arab home. The UAE has now adopted the slow food movement with vigor! Food offerings such as ‘Jones the Grocer’ are increasing in popularity!

Q5: What do you enjoy spending money on?

I truly love traveling and I enjoy good food from all over the world. It goes without saying that I greatly appreciate home-cooked food and always prefer to taste authentic dishes when cooked at home rather than a restaurant.

Q6: What was your exposure to finances growing up?

I grew up in a money-conscious family where my parents gave me the best they could, yet also taught me the value of a dirham. I didn’t always get what I wanted, and that taught me that it’s okay not to always get what you want.

Q7: What is the biggest lesson you have learned about money management while working?

Managing my finances, I’m very conscious about where my earnings go. Since my first job, I’ve always made it a point to save every month. I don’t want to work for money all my life – I want it to work for me in the future. I find it pointless when people have the opportunity to save yet choose to blow it on materialistic things month in and month out.Shaima believes that if you can spend AED 3000 on a bag, you can definitely save away some cash!

Q8: What is the most common mistake that you see women (or men) making regarding money?

Wipe out their hard-earned money every month and then calling themselves independent! People don’t realize that it is just as rewarding and therapeutic to pay yourself too. If you can spend AED 3000 on a bag, you can definitely save away some cash – not just for a rainy day, but perhaps to invest in property or gold. Why would anyone want to retire without a fils to their name? That feeling stings, right?

Q10: Why do you think business and brands benefit with the Arab consumer when they truly understand how to connect with them?

Clients appreciate it when brands don’t rip them off. Marketing alone is not enough to tell the world that your product or brand exists. Companies need to cater to their clients in a customized manner, and that always helps with loyalty.

Q11: What are the three best ways you believe a woman can get ahead financially?

1: Pay yourself first.

2: Enjoy your hard-earned money moderately (it’s okay to treat yourself once in a while).

3: Invest, understand inflation and compound interest, and then sit back and relax as you watch your wealth grow over the years.