Latest news with #LubnaOlayan
Arab News
21-05-2025
- Business
- Arab News
Inaugural Middle East Fortune women's summit brings together female leaders
RIYADH: The first Fortune Most Powerful Women International summit in the Middle East convened in Riyadh this week. The event brought together a global network of female leaders from business, government, investment, tech and policy sectors. 'As women, we often find ourselves needing to prove our capabilities more when it comes to our careers,' said Dr. Giovanna Carnevali, executive director of master planning at ROSHN Group. 'At the same time, we bring deep passion to our work and put our heart and soul into everything we do. I always say that what truly matters is letting your work speak for you.' Speaking to Arab News during the event, Carnevali said her career in Saudi Arabia reflected the country's transformation. 'The experiences I have had here are unique. Living and working in the Kingdom has been a continuous journey of growth, and I am truly grateful for what the country has offered me and to women more broadly,' she said. From geopolitics and sustainability to artificial intelligence and banking, the forum's sessions highlighted how Saudi Arabia — and its women — are reshaping the global conversation on leadership. Lubna Olayan, chair of Saudi Awwal Bank, talked about how Vision 2030 had already surpassed its workforce target for women and called for greater ambitions. 'We need to set a new benchmark,' she told moderator Diane Brady. 'In my company, we now have 36 percent women. When we started hiring women in 2001, there was just one.' Olayan, the first Saudi woman to chair a bank and join a public board, said real progress depended on investment in leadership. 'We need to bring more women into decision-making roles. If the candidates are equal, I'll back the woman — because we're still behind,' she added. Technology was another recurring topic. Prof. Lilac Al-Safadi, CEO of IKONIC Educational Holding, outlined Saudi Arabia's position as an emerging AI powerhouse. 'The Kingdom has trained more than 60,000 AI professionals and launched the world's first cognitive city — not just smart, but fully AI-integrated,' she said. And Ellie Rubenstein, co-founder of Manna Tree and one of the first US food investors to enter the Saudi market, said demand in her sector was shifting fast: 'Seven years ago, we were seen as a food security fund. Today, it's about wellness. The consumers here — especially women — are driving that shift.' She emphasized the importance of understanding what women wanted: 'It's not just about selling products. Brands need to speak to values — wellness, empowerment, sustainability. Women here are not just shaping their families. They're shaping their country.'
Mid East Info
20-05-2025
- Business
- Mid East Info
Lubna Olayan to Open Fortune Most Powerful Women Summit in Riyadh - Middle East Business News and Information
Olayan joins more than 40 distinguished speakers from 35 countries, including senior executives from FedEx, Goldman Sachs, Mastercard, Marriott International, and other global firms. The Summit marks one of the most significant gatherings of senior Saudi female leaders from the government at an international women's gathering. NEW YORK, May 20, 2025 —Lubna Olayan, one of Saudi Arabia's most prominent business leaders, who has appeared 12 times on Fortune's Most Powerful Women in Business list, will open the Fortune Most Powerful Women International Summit in Riyadh on May 20, 2025. Olayan will set the tone for the two-day gathering, which marks Fortune's first international Most Powerful Women summit in the Middle East — a milestone moment that reflects the Kingdom's focus on advancing women's leadership in business. The summit will also feature an unprecedented presence of senior Saudi female officials, representing leadership across multiple sectors of government, including: H.H. Princess Haifa Mohammed Al Saud – Vice Minister of Tourism H.E. Dr. Hala Al-Tuwaijri – President, Saudi Human Rights Commission H.E. Dr. Einas bint Suleiman Al-Eisa – Deputy Minister of Education Adwa Al-Arifi – Assistant Minister for Sport Affairs, Ministry of Sport Farah Ismail – Deputy Minister, Sectoral and Regional Development, Ministry of Economy and Planning These leaders will speak on how women in government are driving progress in key sectors—from economic diversification and education to wellness and tourism demonstrating the depth of Saudi Arabia's women leaders as the country continues to implement its Vision 2030 reform agenda. Taking place at The St. Regis Riyadh on May 20-21, the summit will convene around the theme 'A New Era for Business: Partnering for Global Prosperity.' It will bring together more than 150 of the world's most influential women—including CEOs, policymakers, and entrepreneurs—from 35 countries to explore new models of inclusive growth, innovation, and international cooperation. As part of the opening day, Fortune will also unveil its 2025 Most Powerful Women in Business list, celebrating the achievements of leading female executives and further elevating the event's global resonance. Joining the Summit's roster of global leaders is The Rt. Hon. Theresa May, former Prime Minister of the United Kingdom (2016–2019), who will headline the closing session on May 21. In a conversation moderated by Ellie Austin, Editorial Director of Fortune Most Powerful Women, May will offer her insights on fractured global alliances, climate leadership, and the role of bold, ethical leadership in navigating geopolitical uncertainty. The Summit's wider speaker roster includes senior executives from FedEx, Goldman Sachs, Mastercard, Marriott International, Microsoft, and other Fortune 500 companies, as well as international public sector. In addition to business and policy discussions, the Summit will spotlight women driving change across culture, media, and sport. On Day 2, a special MPW Spotlight on Women in Sports will feature Adwa Al-Arifi, Assistant Minister for Sport Affairs, in conversation with Noor Nugali, Deputy Editor-in-Chief of Arab News. Al-Arifi will highlight the country's growing investment in women's sports, from school leagues to elite training centers, and its broader impact on public health and societal change. This will be followed by 'Playing to Win: Women, Sports, and Breaking Barriers', featuring: Aalia Al-Rasheed, Head of Women's Football, Saudi Arabian Football Federation Zam Zam Al Hammadi, Fighter, Professional Fighters League Rasha Alkhamis, President of the Saudi Mixed Martial Arts Federation Mashael AlObaidan, Rally Driver Lebanese actress and TV presenter Daniella Rahme will also appear as a special guest speaker. In a session with Fortune's Ellie Austin, Rahme will discuss the power of representation, building authentic personal brands, and leveraging visibility to elevate regional identity on the global stage. About Fortune: Fortune is a global multi-platform media company built on a legacy of trusted, award-winning reporting and information for those who want to make business better. Independently owned, Fortune tells the stories of the world's biggest companies and their leaders as well as a new generation of innovators who are moving business forward. Digitally and in print, Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World's Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum, Brainstorm Tech, and Fortune Most Powerful Women.
Trade Arabia
20-05-2025
- Business
- Trade Arabia
Lubna Olayan to open Fortune Most Powerful Women Summit in Riyadh
Lubna Olayan, one of Saudi Arabia's most prominent business leaders, who has appeared 12 times on Fortune's Most Powerful Women in Business list, will open the Fortune Most Powerful Women International Summit in Riyadh today (May 20). Olayan will set the tone for the two-day gathering, which marks Fortune's first international Most Powerful Women summit in the Middle East — a milestone moment that reflects the Kingdom's focus on advancing women's leadership in business. The summit will also feature an unprecedented presence of senior Saudi female officials, representing leadership across multiple sectors of government, including: • Princess Haifa Mohammed Al Saud – Vice Minister of Tourism • Dr Hala Al-Tuwaijri – President, Saudi Human Rights Commission • Dr Einas bint Suleiman Al-Eisa – Deputy Minister of Education • Adwa Al-Arifi – Assistant Minister for Sport Affairs, Ministry of Sport • Farah Ismail – Deputy Minister, Sectoral and Regional Development, Ministry of Economy and Planning These leaders will speak on how women in government are driving progress in key sectors—from economic diversification and education to wellness and tourism demonstrating the depth of Saudi Arabia's women leaders as the country continues to implement its Vision 2030 reform agenda. Taking place at The St. Regis Riyadh on May 20 and 21, the summit will convene around the theme 'A New Era for Business: Partnering for Global Prosperity.' It will bring together more than 150 of the world's most influential women—including CEOs, policymakers, and entrepreneurs—from 35 countries to explore new models of inclusive growth, innovation, and international cooperation. As part of the opening day, Fortune will also unveil its 2025 Most Powerful Women in Business list, celebrating the achievements of leading female executives and further elevating the event's global resonance. Joining the summit's roster of global leaders is Theresa May, former Prime Minister of the United Kingdom (2016–2019), who will headline the closing session on May 21. In a conversation moderated by Ellie Austin, Editorial Director of Fortune Most Powerful Women, May will offer her insights on fractured global alliances, climate leadership, and the role of bold, ethical leadership in navigating geopolitical uncertainty. The summit's wider speaker roster includes senior executives from FedEx, Goldman Sachs, Mastercard, Marriott International, Microsoft, and other Fortune 500 companies, as well as international public sector. In addition to business and policy discussions, the Summit will spotlight women driving change across culture, media, and sport. On Day 2, a special MPW Spotlight on Women in Sports will feature Adwa Al-Arifi, Assistant Minister for Sport Affairs, in conversation with Noor Nugali, Deputy Editor-in-Chief of Arab News. Al-Arifi will highlight the country's growing investment in women's sports, from school leagues to elite training centers, and its broader impact on public health and societal change. This will be followed by 'Playing to Win: Women, Sports, and Breaking Barriers', featuring: • Aalia Al-Rasheed, Head of Women's Football, Saudi Arabian Football Federation • Zam Zam Al Hammadi, Fighter, Professional Fighters League • Rasha Alkhamis, President of the Saudi Mixed Martial Arts Federation • Mashael AlObaidan, Rally Driver
Saudi Gazette
01-05-2025
- Business
- Saudi Gazette
Saudi Awwal Bank launches a world class Innovation Centre to provide financial services
Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, announced the inauguration of its Innovation Centre on Thursday, May 1. The facility is designed to inspire and accelerate innovation, positioning the Kingdom as a powerhouse in Financial Services Innovation. The SAB Innovation Centre serves as a hub for creativity, collaboration, and experimentation, enabling employees, customers, and partners in the financial ecosystem to co-create and deliver. With a focus on fostering an entrepreneurial culture, the centre provides cutting-edge resources and spaces for ideation, testing, and refining transformative solutions. Lubna Olayan, Chair of SAB, said: 'SAB's Innovation Centre is an investment in the future — not just in technology, but in the talent and ideas that will shape financial services in Saudi Arabia. In a landscape defined by rapid change, innovation isn't optional; it's essential for resilience and relevance. This Centre is designed to surface new thinking, accelerate practical solutions, and support the Kingdom's broader push toward a more dynamic, diversified economy.' The Innovation Centre will serve SAB and its broader community, connecting startups, fintechs, regulators, and industry leaders, and serving as a catalyst for innovation. Attendees at the inauguration included representatives from the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA), underscoring the collaborative spirit of this initiative. SAB's Innovation Centre is accredited as an innovative institute by the Global Innovation Institute — the first financial innovation centre in the Kingdom to receive this recognition, and one of the few globally to offer a structured corporate innovation program focused on experimentation, co-creation with the banking sector, and ecosystem collaboration. The Centre will also feature inspiring guest speakers from the Kingdom and abroad, showcasing the latest trends in fintech and new economy companies while engaging educational institutions to foster a rich learning environment. Saudi Awwal Bank (SAB) is one of the largest banks in the Kingdom, with a history in Saudi Arabia spanning over 90 years. Over the past nine decades, it has been an active partner in supporting the Kingdom's economic growth and social development. SAB is a leading corporate and institutional international bank in the Kingdom with a top Wealth & Personal Banking proposition. SAB is also a leader in trade finance, foreign exchange, debt wholesale banking, digital service innovation, and ESG, in Saudi Arabia and the broader region. SAB offers integrated financial and banking services, including corporate banking, investment, private banking, and treasury. The bank's paid-up capital is SR 20.5 billion, following its legal merger with Alawwal Bank on 14th March 2021, when it was formerly known as the Saudi British Bank (SABB). SAB operates under the supervision and regulation of the Saudi Central Bank, and is a partner of the HSBC Group.
Saudi Gazette
27-04-2025
- Business
- Saudi Gazette
Saudi Awwal Bank records SR2.1 billion net profit after zakat and income tax for 1Q25 – an increase of 5% compared to 1Q24
Summary of Results for 1Q25: Net Profit after Zakat and Income : SR2,135 million, marking an increase of 5% compared to SR2,043 million in 1Q24 Total Operating Income : SR3,620 million, marking an increase of 5% from SR3,447 million in 1Q24 Net Loans and Advances : SR279 billion, marking an increase of 22% from SR229 billion in 1Q24 Customer Deposits : SR290 billion, marking an increase of 9% from SR266 billion in 1Q24 Total Equity: SR72 billion, marking an increase of 14% from SR63 billion in 1Q24 Ms. Lubna S. Olayan, Chair of the Board of Directors of Saudi Awwal Bank (SAB), announced on Sunday the bank's financial results for the period ending 31 March, 2025. For the first three months of 2025, SAB recorded net profit after zakat and income tax of SR2,135 million, representing a 5% year-on-year increase. Total operating income rose 5% to SR3,620 million. Lubna Olayan, Chair of SAB, commented: 'Despite challenging global macroeconomic conditions, we remain confident in Saudi Arabia's growth story and proud of SAB's role in supporting growth through disciplined and quality focused funding. SAB achieved an 8% growth in total loans quarter-on-quarter, driven by robust retail loan growth of 6% and an 8% growth in corporate activity. Net loans and advances reached SR279 billion, marking 22% growth from SR229 billion in 1Q24. Customer deposits also increased to SR290 billion, up 9% from SR266 billion in 1Q24. Meanwhile, total equity rose 14% from SR63 billion in 1Q24 to SR72 billion. Despite a lower interest rate environment, SAB's net special commission income continued to grow, reflecting the bank's increased resilience and operational strength. We are proud to be the partner of choice for internationally-minded customers, and continue to play a leading role in supporting the growing number of cross-border customers coming into the Kingdom.' Ms. Olayan stated: 'We have maintained positive jaws, indicating effective cost management relative to income growth. Asset quality remains very strong, and our loan growth has been well-matched by strong deposit capture, ensuring a healthy funding base and a resilient capital position. As expected, this translated into a return on tangible equity of 15.8%. In addition, SAB had an exceptional quarter in corporate loan originations diversified across a number of key sectors. Our mortgage business achieved its best quarter since 1Q24 with a closing mortgage portfolio of SR38bn – marking 2x increase in size from when SAB commenced the strategy. In recognition of our efforts to integrate sustainability as a core strategic pillar across operations, we are proud that SAB was recognized as the 'Sustainability Program of the Year 2024' at the Saudi Capital Markets Forum, making the bank the first financial institution in the Kingdom to receive this recognition. The award acknowledges the bank's prominent role in advancing environmental, social, and corporate governance practices within the Saudi economy and market. In addition, Global Finance also honored SAB as the 'Best Trade Finance Provider' marking our fifth consecutive year receiving the recognition. Ms. Olayan added: 'Our results reflect our strategic direction, characterized by robust revenue growth and solid loan performance. As we navigate a dynamic global environment, our commitment to innovation and sustainability, in addition to our strategic partnership with HSBC, position us well to capitalize on future opportunities. This progress could not have been achieved without the commitment and support of our board members, senior management team, and employees. I would also like to thank our regulators — the Saudi Central Bank and the Capital Market Authority — for their guidance and assistance.' Saudi Awwal Bank (SAB) is one of the largest banks in the Kingdom, with a history in Saudi Arabia spanning over 90 years. Over the past nine decades, it has been an active partner in supporting the Kingdom's economic growth and social development. SAB is a leading corporate and institutional international bank in the Kingdom with a top Wealth & Personal Banking proposition. SAB is also a leader in trade finance, foreign exchange, debt wholesale banking, digital service innovation, and ESG, in Saudi Arabia and the broader region. SAB offers integrated financial and banking services, including corporate banking, investment, private banking, and treasury. The bank's paid-up capital is SR 20.5 billion, following its legal merger with Alawwal Bank on 14th March 2021, when it was formerly known as the Saudi British Bank (SABB). SAB operates under the supervision and regulation of the Saudi Central Bank, and is a partner of the HSBC Group.
