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Saudi Women in Leading Roles in Banking and Finance

Saudi women are witnessing a remarkable transformation in their roles, in line with Vision 2030. They are assuming leadership positions across various sectors, including banking and finance, reflecting the Kingdom’s commitment to empowering women and their contributions to the development process.

Zeen Magazine explores prominent figures who have taken on leadership roles in the banking and financial sector in the Kingdom:

Sarah Al-Suhaimi

Sarah Al-SuhaimiSarah Al-Suhaimi is the Chairperson of the Board of Directors of Tadawul, the largest stock market in the Middle East. She was born in 1979 in Riyadh. Her father, Jamaz Al-Suhaimi, was the first chairman of the Saudi Stock Exchange (2004-2006).

Sara is a businesswoman and the first woman to manage a company at the Saudi Stock Exchange. She is also the first Saudi woman to hold a senior financial position, not only in the public sector, represented by “Tadawul,” but also in the private sector, holding similar positions in three major banking institutions: “Al Ahli Capital,” “Samba Financial Group,” and “Jadwa Investment.”

She is also the first woman to serve on the board of directors of the Saudi Arabian Airlines Corporation.

  • Academic Background

In May 2007, she became the Executive Director and Head of Investment in Asset Management at Jadwa Investment, starting as a Senior Portfolio Manager.

Prior to that, she worked as a Senior Portfolio Manager in Asset Management at Samba Financial Group.

In September 2013, she was selected as one of 16 members of the Capital Market Authority’s Advisory Committee, serving for two years.

On February 6, 2017, she was appointed by the Council of Ministers as a member of “Tadawul,” and the Tadawul Board of Directors elected her as chairman during its first meeting in its fourth term on February 16, 2017, at the company’s headquarters in Riyadh, with the attendance of all members.

She holds the position of Director at NCB Capital DIFC in Dubai International Financial Centre (DIFC) in the United Arab Emirates.

On March 30, 2021, Al-Suhaimi was appointed as a member of the board of directors of the Saudi Arabian Airlines Corporation, representing the private sector, a member of the board of directors of the Cultural Development Fund, and also a member of the board of directors of the General Authority for Statistics for a period of three years starting from February 2024.

Rania Nashar

Rania Nashar
Rania Mahmoud Abdulwahab Nashar, a Saudi banking expert, was appointed as an advisor to the Governor of the Public Investment Fund of Saudi Arabia on December 22, 2020.

Previously, she served as the CEO of Samba Financial Group from February 19, 2017, until her resignation on December 21, 2020, making her the first Saudi woman to lead the banking sector in the Kingdom.

Rania Nashar was included in Forbes’ list of the most powerful women in the world in 2018 and 2019.

She ranked fourth among the ten most influential and powerful women in the Middle East in 2018, according to Forbes.

Nashar has over 22 years of banking experience. She began her career by joining Samba Financial Group. During this time, she worked in various business sectors within the group, ranging from private banking to retail banking.

Nashar played a pivotal role in developing Samba’s e-banking strategy and launching its online banking system.

She took on the responsibility of leading auditing and risk review tasks for all business areas and operations within Samba, including corporate banking, treasury, investment services, and risk management.

She was the first Saudi woman to hold this position in the sector.

Kholoud Al-Dakhil

Kholoud Al-DakhilKholoud has 25 years of experience in financial consulting and investment banking. She is the founder and CEO of Irtiqa Finance.

She was a founding partner and managing director of Al-Dakhil Financial Group, in addition to serving as Assistant General Manager at Samba Financial Group.

She serves on the board of directors of several companies, including Arabian Drilling Company, Ta’meed for Financial Technology, the Riyadh Chamber of Commerce, the Saudi Society of Certified Financial Analysts, and Safa Industrial Company.

Kholoud also serves on the audit committee of several companies, including Spemaco Pharmaceutical Company, King Salman Park, and the Masar Sports Foundation.

Kholoud holds a Master’s degree in Financial Management from the American University in Washington, DC, a Bachelor’s degree in International Finance and Trade from Georgetown University, and a Certified Financial Analyst designation in 2003 from the Chartered Financial Analyst Institute.

She served as CEO of Samba Financial Group since 2017 and has been a board member of the Saudi Stock Exchange (Tadawul) since 2020, Samba Bank Limited in Pakistan, Samba Global Markets Limited, Samba Capital Asset and Investment Management Company, and the Saudi Space Authority since December 2019, and the Saudi Polo Federation since 2018.

She is also a member of the advisory committee for the Saudi Capital Market Authority since March 25, 2019.

Lubna Olayan

Lubna OlayanLubna Olayan is the first Saudi woman to be elected as a board member of the Saudi Hollandi Bank, representing Al-Olayan Financial Company, where she serves as CEO.

Olayan has served as the chair of the board of directors of the Saudi British Bank (SABB) since June 2019.

She works in the Al-Olayan Group in Saudi Arabia and the Middle East, contributing to over 40 major companies, including Carrefour.

In addition, Lubna is a board member of the global marketing giant WPP and a member of the Board of Trustees of the Arab Thought Foundation.

Olayan has contributed to various initiatives for the reform of the Middle East, particularly in the Arab Business Council under the World Economic Forum, in the fields of business, trade, and finance.

  • Achievements:
    • Arabian Business magazine named her the second most powerful woman in 2011 on the list of the 100 most powerful Arab women.
    • In 2012, she received the Royal Swedish Order of the Polar Star, first class, making her the first Saudi woman to receive this honour, for her efforts in strengthening relations between Saudi Arabia and Sweden.
    • She led several Swedish companies in Saudi Arabia, such as Atlas, Köpco, and Scania.
    • She was included on Time Magazine’s list of the 100 Most Influential People in the World in 2005.

Dr. Nahed Taher

Nahed TaherDr. Nahed Taher is the first Saudi woman to work as an economic advisor for a Saudi bank, namely Al-Ahli Bank. She earned a Master’s degree in International Economics from King Abdulaziz University in Jeddah and a PhD in Financial Economics in 2001.

She worked as a lecturer in the Economics Department at the university, teaching several courses, and conducted numerous financial studies on the Saudi market for Al-Ahli Bank, representing them at international conferences.

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