Ms. Lubna Al-Olayan as being a trailblazer in the finance industry is a prime example on the Saudi woman's creditworthiness and competence even in such a challenging field.
Al-Olayanwho originally belongs to one of the wealthiest families in the Middle East wasborn and grew up in Al-Qassim region. She is a holder of Bachelorof Arts and Science in agriculture, Cornell University and MBAfrom KelleySchool of Business at Indiana University.
You cancall her one of the most prominent businesswoman in Saudi Arabia and the MiddleEast if not the most prominent. Adding to running one of the greatestcommercial empires in Saudi Arabia, Olayan Financing Co., she has beenassuming a number of considerable posts, including being an executive committeemember in the Arab Business Council (ABC) of the World EconomicForum, a Board member of Trustees of the Arab Thought Foundation. Also, she isa member of the board of directors of some industrial and investment companies.Of these, we mention; Rolls-Royce Group, WPP group, Akbank Bank in Turkey, Schlumberger,apart from being a member of the Board of Trustees of King Abdullah Universityof Science and Technology.
In a first for a woman inSaudi Arabia, Al-Olayan,who was previously elected to the board of Saudi Hollandi Bank in 2004becoming the first Saudi lady to ascend such a post, has been chosen to chair thethird-largest lender in Saudi Arabia formed out of the biggest merger andacquisition deal between the Saudi Arabia British Bank (SABB) and AlawwalBank. This can be regarded as a step towards empowering Saudi women under SaudiVision 2030 of Saudi Arabia's Crown Prince Mohammed bin Salman.
No one can deny that Al-Olayanspares no effort to well represent Saudi Arabia in several forums; last Oct.she co-chaired the Saudi-U.S. CEO Forum, the first annual summit of U.S. andSaudi CEOs and Saudi government officials in pursuit of establishing bilateraltrade. With a view to diversify Saudi sources of incomeother than oil, she issues stock shares in some of the localassets of her company, which holds in turns stakes in companies such as MiddleEastern Burger King franchises and tubular oil-field equipment.
Advocating Saudi Women
"I do believe that Saudi women are extremely powerful as much as I believe
that Saudi men form a great support to them." Al-Olayan said.
On another front, she has been long advocating theSaudi women; she hires around 540 women, and in 2004, she established Al-Olayan Women's National Action and Development Program "ONWARD"with the aim of empowering Saudi women and increasingthe number of female professionals who make up only a small percentage of thetotal workforce in Saudi Arabia. Furthermore, she contributes to a lot ofcharitable and volunteering activities including Suliman S. Olayan Foundationthat provides Social, educational, health, and relief services.
She is always proud ofreceiving support from the surrounding men as she sees that the mostinfluential men in her life and career are her father, brother, and husband. Oneof her related and most popular statements:
"Saudi men have sisters, mothers, and wives. All during my career, I have received
massive support from Saudi men. So I do not really think that Saudi Women are oppressed or ill-treated".
In 2012, Al-Olayan was thefirst Saudi lady to be awarded the Polar Star Medal by Carl Gustaf, King ofSweden.In 2017, the powerful financer appeared on the most Powerful Women list ofForbes, taking the 59th rank and topped the list of Forbes MiddleEast's Most Influential Women 2018. She has also received Honorary DoctorateDegrees, Trinity College Dublin, the University of Dublin, Ireland.
