Our rank as the third largest bank may be affected, and we may drop by one or two notches soon however we would rather embrace the opportunities this circumstances present. 2019 has been a challenging year so far. Country Reports: Three years into the Crown Prince’s Vision 2030 plan to reduce Saudi Arabia´s dependence on oil by diversifying its economy and developing public service sectors such as health, education, infrastructure, mining, entertainment and tourism. Could you share with us any new initiatives or innovations that you may have in the pipeline. Log In. Find your friends on Facebook. See Photos. Ms. Rania Nashar: It has not been easy. #2. We have to embrace FinTechs and encourage further collaborations. Saudis dominate the Top 10 of Forbes annual Power Businesswomen in the Middle East list, with three of the country’s biggest names in the top five. Saudi itself is completely changing. Country Reports: We understand that one of the biggest contributions that you have made to the group has been with the development of its digital services. I was so keen on being on this executive floor but I never thought that I would be the CEO. We see change as the new reality, and it is the best way. “It has been a remarkable year for gender equality and women empowerment," Ms Nashar said. In Samba we have a dedicated digital group working on all these innovations, and they report directly to me. The financial services industry has done a really good job overall, in addition to its role as one of the main contributors to the country’s GDP (gross domestic product). We will pick up and work towards not only maintaining our position but to grow even bigger. Ms. Rania Nashar: It’s really challenging. The journey has not been easy. Currently, we are heavily focused on transforming our core banking system and then we will add on the new applications, the new technologies that will help us not only create new revenue streams to reach operational efficiency but also to give each customer a more personalized experience. or. If you recall, women were allowed to drive only recently. Country Reports: The company is performing well if last year’s results are any indication. There are 21 women from the banking and financial services sector, including four from stock exchanges and financial regulators. I am sure that someone who visits our country every few months can readily see the changes from the moment they land in the airport. If you look at the Saudi national year and you plot what we have achieved just last year, you will be able to see an achievement every day, if not more. Country Reports: You entered the company in February 2017, and then you had a record year the year after that. London W1B 3HH Our focus over the coming years is to expand our footprint in the UAE and to benefit from all of the opportunities and joint programs encouraged by the two countries. United Kingdom. When we focus on ourselves, however, and learn about our achievements, we find that they also change perceptions. The Forbes list was constructed via nominations and through in-depth research based on criteria including the size of the businesses that these women head, their accomplishments over the past year, the initiatives that they champion, and their overall work experience. That is what we are aiming for. What helped me was that I had all-around experience. And Rania Nashar (#97 on the Forbes list) became the first female CEO of Samba Financial Group in 2017, Saudi Arabia’s fourth-biggest bank by assets. The majority (79) of the 100 women are self-made, 16 of whom have started their own businesses. Banks create products and services that support SMEs, which is the key driver of the economy. Rania El-Nashar. We cooperate with our partner agencies in the public sector towards the efficient delivery of national projects and programs. Rania Nachar. Our slogan is “think Samba”. So the banks, by contributing and establishing this centre of excellence we help those with autism. No, we are simply adopting to change. They have created the sandbox, and Saudi FinTech. View the profiles of people named Rania El Nashar. I spend more time here. The two MoUs were signed by Ammar al-Khudairy, Chairman at Samba Financial Group, Rania Nashar, Samba Financial Group CEO, and Fahd Al-Saif, president of the Debt Management Office (DMO) and Advisor to the Minister of Finance. When we look at e-government and what the government is able to offer electronically to citizens, it beats what the banks are currently offering. "Empowering Saudi women means empowering the Saudi family," said Rania Nashar, CEO of Samba Financial Group, the first Saudi woman to hold such a senior position. The Saudi citizen has always had this inner strength – the guts – and is able to make the best out of what they have. There are also nine Egyptians, eight Lebanese and eight Omani women. Additionally, Saudi Arabia’s presidency has stressed the importance of women’s financial inclusion, access to quality and affordable care services (so the burden of childcare is eased) and access to education and training. Banks are changing the way they are working. Samba Financial Group’s Rania Nashar is ranked third on the list, followed by Tadawul’s Sarah Al-Suhaimi and Saudi British Bank’s Lubna Olayan. I was just trying to seize all the opportunities that came my way. “Empowering Saudi women means empowering the Saudi family,” says Rania Nashar, the first executive director of Samba Financial Group, the first Saudi woman to hold such a high position. Ms. Rania Nashar: Our Samba footprint was mainly regional. We’ve always been the pioneer in technology; it has always been a part of our DNA. Prior to this position, Nashar had an extensive history at the company and was a board member for Samba Financial Group’s global markets subsidiary. Country Reports: Fintech companies are having a great effect on the conventional banking sector. Ms. Rania Nashar: It was like a dream when Vision 2030 was announced three years ago, and everybody wondered if the dream would ever come true. Saudi FinTech is basically a forum that is comprised of banks, the regulators, entrepreneurs as well as university students. In addition, Fahad Alsaif was named as the new Head of Corporate Finance, Alireza Zaimi appointed to the role of Special Advisor to Rumayyan, and Saad al … Nashad Rania. What I also like about Vision 2030 – and I don’t see this in a lot of other countries – is that the government and the ministries have KPIs. Sarah Al-Suhaimi chairs Tadawul, the region’s biggest stock exchange, which recently handled the IPO of the world’s most valuable company, Aramco. See Photos. Saudi Arabia's stock exchange and one of its biggest banks will be lead by women for the first time. Managing Director Raja Easa Al Gurg has overseen the powerful Al Gurg Group, one of the U.A.E.’s oldest family ... Read More. Tell us how SAMBA is adapting to this new landscape and investing in technology? They are working more where entrepreneurs are present. Our position will definitely be impacted once the merger of these four banks are finalized. We have our own challenges but we are also addressing and overcoming them. He wants to buy a home, he thinks Samba. On the cusp of International Women’s Day next month, Forbes Middle East has unveiled its annual Power Businesswomen in the Middle East list, packed with 100 exceptional businesswomen at the head of many of the most influential and transformational companies in the region. Raja Al Gurg (#84 on the Forbes list) manages her family’s business, which was first founded by her father. Coming up with new ways to support the community, developing talents, promoting right business practices, educating the community while generating income for the economy are just some of the major contributions of the financial services industry. Select from premium Rania Nashar of the highest quality. or. 70 percent of our customers in the coming five to six years will be millennials. This year we are planning to invest more in our people and technology to make sure that we are ready for the coming five to six years. Country Reports: Tell us about your international footprint, I know that you already have branches overseas. Rania Nashar, Sarah Al-Suhaimi and Lubna Olayan find special place in the list of exceptional businesswomen. Rania Nashar, Sarah Al-Suhaimi and Lubna Olayan find special place in the list of exceptional businesswomen. Rania Nashar is chairwoman of the Empower Alliance, launched at the G20 Osaka Summit in 2019 to promote the advancement of women in the private sector. Not only does the company have international exposure through its ties with Citibank, it also rewarded employees based on competency. We are a nation that is only eighty-nine years old but what we have achieved, no one else has. The Middle East’s outstanding female leadership was reflected internationally in 2019 when Forbes’ list of the World’s 100 Most Powerful Women featured three women from this region — who now make up the top three. (Shutterstock). You are not just giving a shield, you are also changing the lives of people. If a day has 24 hours, I spend nine to ten hours of it in Samba each day. People wondered if it were possible for the country and its leaders to make this vision a reality — could it be done? The financial services industry is also known as a significant talent pool. Ms. Rania Nashar: That is why we focus a lot on changing perceptions, particularly how Saudis are perceived. Country Reports: You are the first Saudi female to become CEO of Samba Financial Group and the first female CEO of a listed Saudi commercial bank. I will not say that it has been easygoing. Sign Up. The changes that are happening now, it surprises many people. The Kingdom’s own Rania Nashar has made it to Forbes’ annual list of “The World’s Top 100 Most Powerful Women” and we can’t help but feel so much pride! I find that incredible. Gender was not a factor. If a day has 24 hours, I spend nine to ten hours of it in Samba each day. Ms. Rania Nashar: We are propagators of different technologies. Find your friends on Facebook. ... And 21 women work in their family businesses, with many of … "Empowering Saudi women means empowering the Saudi family," said Rania Nashar, CEO of Samba Financial Group, the first Saudi woman to hold such a senior position. She became CEO in 2017, at a time when … Country Reports: It’s exciting times. Find the perfect Rania Nashar stock photos and editorial news pictures from Getty Images. Raja Al Gurg (#84 on the Forbes list) manages her family’s business, which was founded by her father. The contribution was made through financial services authorities like the Central Bank and the Capital Market Authority as well as with the support of all Saudi banks that continue to work hard towards improving their rules, their regulations and enhancing their level of financial reporting. We have some presence in the UAE and Qatar. But in order to sustain the growth, I have to reinvest in the organization, the people, the technology and the infrastructure so that I can have another leapfrog in the years afterwards. Copyright: Arab News © 2021 All rights reserved. Ms. Rania Nashar: The financial sector is one of the main contributors to enhance public-private partnerships, which are one of the goals of the Vision. In terms of salaries and opportunities, Samba had the right environment for females. If you were to compare it to a person, eighty-nine years is one lifetime but if you compare it to the age of nations, such as the United States or countries in Europe, their histories are much longer. In essence, this I believe is what the Crown Prince and the nation’s leadership bet on when they said that the sky is our limit. I always compare our nation’s journey to being on a race track, tensely waiting for the light to turn green, and when it finally does, we just run with everything we’ve got. We really have to adapt to the way they think. When you look at this country perhaps it will make you say, “it’s only a desert” but we bet on our resources. In the span of a year, more than a hundred thousand loans have been approved. Indian national Renuka Jagtiani (#96 on the Forbes list) has built a retail empire in the UAE. I’m proud of it as the female CEO to have helped achieve that. Indian national Renuka Jagtiani (#96 on the Forbes list) built a retail empire in Bahrain. It was not easy, I started as temporary staff doing menial tasks like cutting and pasting of files, highlighting reports – very basic things, but I never gave up. It’s amazing. And 21 women work in their family businesses, with many of them starting out when it was rare to find women in the workplace. The good thing is that SAMA (Saudi Arabian Monetary Authority) – our Central Bank, is a strong believer in technology. I just thought I would be one of the executives. In the 2020 list, there are 22 new entries and 23 nationalities represented across 28 sectors. Saudis dominate the Top 10 of Forbes annual Power Businesswomen in the Middle East list, with three of the country’s biggest names in the top five. I have been working for this bank for the last twenty-two years. More than two hundred eighty (280) million Saudi riyals went towards establishing this autism centre of excellence that will save a lot of money from the local budget in the long run because we don’t have the right level of support that is adequate for helping people with autism in the country. Emiratis are the most prevalent nationality with 23 entries. As banks we have the trust, while they have the innovation. Ms. Rania Nashar: Right now we are working in a very challenging environment where four banks are merging. See Photos. Sustainability is crucial as well as the ability to deliver on our promise. They think a bank transaction should be one click away like Uber. Ms. Rania Nashar: It’s the highest in Samba’s history. Indian national Renuka Jagtiani (#96 on the Forbes list) has built a retail empire in the UAE. Samba Financial Group’s Rania Nashar is ranked third on the list, followed by Tadawul’s Sarah Al-Suhaimi and Saudi British Bank’s Lubna Olayan. Interview with Ms. Rania M. Nashar, CEO, Samba Financial Group, Interview with Dr. Mohammed Saud Al-Badr, CEO, Saudi Chemical Company / AJA Pharmaceutical Industries, Interview with Mr. Ajlan Bin Abdulaziz Alajlan, Chairman of the Riyadh Chamber of Commerce and Industry, Interview with Mr. Faisal O. Al Saggaf, CEO, National Commercial Bank, Saudi Arabia, Interview with Mr. Mohanad A. Dahlan, CEO, UBT Company. If I compare the time I spend with my family … Emiratis are the most prevalent nationality with 23 entries. Saudi women "are ambitious and passionate about playing a role in shaping the future of their country", she said. Rania Nashar is the first female CEO of a listed Saudi commercial bank, The Samba Financial Group. The bank buys them fully furnished, and then hands them over to the needy. We do not just go to the poor area for this, we go to the middle class areas because there is a great need in these communities also. Last week we just celebrated one year of women being allowed to drive in Saudi Arabia. Ms. Rania Nashar: Yes, I started my career in Samba because back then it was the only bank that gave equal opportunity to both genders. Rania Naushad. Sorry, the comment form is closed at this time. Mrs. Rania Nashar, CEO of SAMBA and Empower Alliance, mentioned that Empower is working this year to further advance the presence of women in … What I like about Vision 2030 is that it bet on the citizens of Saudi Arabia, its youth, and it bet on the future. Log in or sign up for Facebook to connect with friends, family and people you know. 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