If you look a the cabinet, most high-ranking government officials come from the banking sector. They think a bank transaction should be one click away like Uber. Sign Up. (Shutterstock). Lubna S. Olayan. Rania Naushad. Public and private sector resources deliver, as they should, and the beauty of this is that revisions and reviews indicate that we are on the right track. When somebody wakes up in the morning, he has to think Samba. Saudi women “are ambitious and passionate about playing a role in shaping the future of their country”, she said. What I like about Vision 2030 is that it bet on the citizens of Saudi Arabia, its youth, and it bet on the future. 2019 has been a challenging year so far. As society opens, Saudi women surge into job market - DAWN.COM #2. Ms. Rania Nashar: Right now we are working in a very challenging environment where four banks are merging. Managing Director Raja Easa Al Gurg has overseen the powerful Al Gurg Group, one of the U.A.E.’s oldest family ... Read More. Country Reports: Fintech companies are having a great effect on the conventional banking sector. Saudi Arabia's stock exchange and one of its biggest banks will be lead by women for the first time. Tell us how SAMBA is adapting to this new landscape and investing in technology? 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. I know each and every smell of each brick in this building. See Photos. Indian national Renuka Jagtiani (#96 on the Forbes list) built a retail empire in Bahrain. We are running in one direction, towards one vision, and a shared future. That is our aim. United Kingdom. Country Reports: Tell us how the financial services sector is contributing to the implementation of Vision 2030. In the span of a year, more than a hundred thousand loans have been approved. Select from premium Rania Nashar of the highest quality. But we are optimistic. Saudi women "are ambitious and passionate about playing a role in shaping the future of their country", she said. In terms of challenges, some of the goals or KPIs (key performance indicators), if you will, that were set for Vision 2030 have yet to be achieved. Emiratis are the most prevalent nationality with 23 entries. We still lag behind in some areas but these are being reviewed and addressed. "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 good thing is that SAMA (Saudi Arabian Monetary Authority) – our Central Bank, is a strong believer in technology. 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. “It has been a remarkable year for gender equality and women empowerment," Ms Nashar said. Saudi FinTech is basically a forum that is comprised of banks, the regulators, entrepreneurs as well as university students. 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. When we focus on ourselves, however, and learn about our achievements, we find that they also change perceptions. Nashad Rania. Country Reports: The company is performing well if last year’s results are any indication. 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. 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. In Samba we have a dedicated digital group working on all these innovations, and they report directly to me. The changes that are happening now, it surprises many people. Saudi Arabia will celebrate its 89th National Day this September. The public sector is also well represented, with 13 women on the list heading government organizations, including Director General of Smart Dubai Aisha Bin Bishr, who is overseeing Dubai’s digital transformation. ... And 21 women work in their family businesses, with many of … Not only does the company have international exposure through its ties with Citibank, it also rewarded employees based on competency. I spend more time here. It is happening naturally — people are changing how they see Saudi not because we put so much effort into it, going out, reaching out and showing the world we are different now. 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). There is also an autism centre of excellence that was established through the contributions of Saudi banks. We see this situation as more of an opportunity wherein we can get their resources, and we can get their clients. Country Reports: For lady pilots as well…. Rania Mahmoud Nashar. Log in or sign up for Facebook to connect with friends, family and people you know. A favoured sister of the current Prince-Admiral, she is a woman devoted to enjoying the opulence of nobility whilst escaping the bondage it brings for some. I din’t say “no” to any work that came to me no matter how big or small it was and no matter what my position would be. What are your plans, moving forward? Samba for me is home. This is why foreign investors are attracted to dealing with Saudi banks, and they are reaching out to Saudi banks to help them fund and inject money into the economy. Rania Vashar is a Magister of the Myrish Conclave, elevated to the position following the death of her father. Now the country’s public sector is growing at a faster rate than the private sector, which is really challenging for us. We are also in South Asia, in Pakistan. 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. Indian national Renuka Jagtiani (#96 on the Forbes list) has built a retail empire in the UAE. Ms. Rania Nashar: That’s right. In fact some of the objectives for Vision 2030 were already achieved even before their target dates. the G20 will ensure that the post-pandemic decline in female labour force participation does not become structural. He wants to buy a home, he thinks Samba. 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. 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. One time I was a guest on a TV show to talk about my biography and I told them that from day one, when I came to work every morning I looked at the ninth floor, which is the executive floor, and I always told myself that one day I will be there on that floor. We welcome innovation, and the collaboration that we have now with other entities, including our regulator. There are also nine Egyptians, eight Lebanese and eight Omani women. The first ATM (automated teller machine), the first full fledged online STP (single touch payroll) solution and the first local broker system in the country are Samba’s. I was so keen on being on this executive floor but I never thought that I would be the CEO. Rania Nashar is the first female CEO of a listed Saudi commercial bank, The Samba Financial Group. JEDDAH: 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. Now we also have a lady ambassador. Country Reports: Samba is currently the third largest bank in terms of assets. The bank buys them fully furnished, and then hands them over to the needy. This is why I believe that I have chosen the right organization for me. They are creating solutions, they are working hand-in-hand with the government, and the achievements that the banking sector contributed to are significant. Last week we just celebrated one year of women being allowed to drive in Saudi Arabia. Copyright: Arab News © 2021 All rights reserved. You must feel very satisfied indeed. 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. 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 … Leading Saudi financier, Rania Nashar was appointed as Senior Advisor to PIF Governor, Yasir al-Rumayyan. For instance, Samba contributes to the housing industry by coming up with a specialized program wherein the bank sets aside a budget and purchases five hundred (500) housing units through the Ministry of Housing. London W1B 3HH The information about Saudi that you get from outside is not up-to-date. Ms. Rania Nashar: Our Samba footprint was mainly regional. They will see all these buildings, all the on-going construction — they will see the progress. Log in or sign up for Facebook to connect with friends, family and people you know. Last year, Forbes’ World’s 100 Most Powerful Women list featured three inspiring and outstanding women from the Middle East. For instance SABB (Saudi British Bank) will be merging with Alawwal, and the clients who do not like SABB and will look for a new bank can go to Samba. Being inducted as a member, and being the first Arab country to be done so, is a big achievement for us. FinTech is meant to disrupt the classic banking industry, however the way we see it is that it is more of a collaboration. Forbes on Tuesday released its list of the most powerful women in the world, with Vice President-elect Kamala Harris making her debut at No 3. and Angela Merkel taking the top spot again. There are also nine Egyptians, eight Lebanese and eight Omani women. We really have to adapt to the way they think. 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. Find your friends on Facebook. Forbes just released their seventeenth annual list of the 100 most powerful women in the world in 2020, and here’s what you need to know. “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. I just thought I would be one of the executives. Therefore we expect 2020 or 2021 will be another record year. Ms. Rania Nashar: When it comes to FinTech and technology, Samba has always been known for its many firsts. Plus the service will be localized and the experience will be publicized across the board. That is what we are aiming for. The financial services industry is also known as a significant talent pool. Country Reports: It’s exciting times. Half of the list head large corporations, including Nadia Al-Saeed, who runs Jordan’s fourth biggest lender, Bank al Etihad, and Pakinam Kafafi, CEO of Egyptian energy company, Taqa Arabia, who is the only female leader in the oil and gas sector on the list. Could you share with us any new initiatives or innovations that you may have in the pipeline. Gender was not a factor. Saudi banks are one of the first when it comes to the implementation of international accounting standard. Our slogan is “think Samba”. Rania Nashar, Sarah Al-Suhaimi and Lubna Olayan find special place in the list of exceptional businesswomen. Rania Nashar: Rania Nashar is the first female CEO of Saudi commercial bank, Samba Financial Group. We have to embrace FinTechs and encourage further collaborations. When it comes to corporate social responsibility, the financial services sector is also becoming more innovative with its activities. Rania El-Nashar. 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