This website stores cookies on your computer. These cookies are used to improve your website experience and provide more personalized services to you, both on this website and through other media. To find out more about the cookies we use, see our Privacy Policy. We won't track your information when you visit our site. But in order to comply with your preferences, we'll have to use just one tiny cookie so that you're not asked to make this choice again.

Lubna Al Olayan appointed as first woman Saudi bank head

A woman has been appointed to run a Saudi Arabian bank in a first for women in the country.

 

Saudi businesswoman Lubna Al Olayan will chair a new bank being formed out of a merger between the Saudi British Bank (SABB) and Alawwal Bank.

The move comes amid a liberalisation of women's roles in a traditionally conservative society.

In June, Saudi women were officially allowed behind the wheel for the first time, after a driving ban was lifted.

Currently the head of a family conglomerate, Ms Olayan is seen as a trailblazer for Saudi women in the finance industry.

The empowerment of Saudi women is seen as key to the kingdom's modernisation as part of an initiative led by Crown Prince Mohammed bin Salman known as Saudi Vision 2030.

The merger between the SABB and Alawwal Bank creates the country's third biggest bank, with a capitalisation of £13.2bn ($17.2bn). British multinational bank HSBC will own part of the new entity.

Source: bbc

Share This Post

related posts

On Top