Isn't that only in terms of business transactions?
From my POV as a non-Muslim I can kind of see the logic if the women at the time the Quran was revealed weren't very literate or educated in math, etc.
Not sure how that translates into today's time in countries where female children are educated in math and in some cases are professionals in business law, etc. They would still need two women to sign, say, a mortgage loan for a house, right?
Procure two witnesses from among your men; and if two men be
not available, then one man and two women, of such as you like
as witnesses, so that if either of the two women should be in
danger of forgetting, the other may refresh her memory. (2:283).
Let me try to clarify this in simple points.
1. Islam has taught that Women should not need to appear in court as a general principle when dealing with financial transactions, preference is given that Men who generally handle financial transactions would appear. Islam minimizes that amount of interaction between Women and Males unless they be married, family, or such as a Teacher and Student, etc. If the case is such that there are no Men as witnesses in such a case a Women witness may appear.
2. The verse itself has given the reason for why two Women are needed. It says "so that if either of the two women should be in danger of forgetting, the other may refresh her memory.". When financial transactions are done, it is usually between two Males, when both appear in court they can recall that day, the discussion, where they where, and such factors jog up the memory. In the case of Women they are only secondary witness who are knowledgeable of the transaction, often the wives. Hence, their memory would not be refreshed by a social interaction. For the reason that Women have not been involved socially in the transaction they can falter in memory, a person who did the transaction should generally be able to recall better, especially when speaking with the other party.
3. This verse does not state what has been concluded often from it. Let me exemplify. If a transaction occurs, there is a male witness and two female witness, and one female witness passes away. So when the appear in court the male's testimony doesn't have more strength over the other, having to female witness is a safeguard to ensure that they have not forgotten. If this safeguard is not possible and the judge finds that the testimony of the male witness is faulty while the female witness is strong then he will and must judge in fairness to the female witness. Nowhere does it say that the female has less right, it simply states that they are more likely to forget, not because they are any less than males, simply because they are not the front line of financial transactions in a Islamic society.