It is an amazing thing. Ms. Rania Nashar: It’s really challenging. Banks are changing the way they are working. Ms. Rania Nashar: We are propagators of different technologies. Now the country’s public sector is growing at a faster rate than the private sector, which is really challenging for us. Sign Up. Ms. Rania Nashar: It has not been easy. We are also in South Asia, in Pakistan. Nashar was ranked the 99th in the list that includes prominent names such as Angela Merkel, Kamaala Harris, Melinda Gates, Rihanna, & many other global female trailblazers. This incredible list of powerful women includes billionaires, politicians, world leaders, musicians, actors, humanitarians, and more. Rania Nashar is the first female CEO of a listed Saudi commercial bank, The Samba Financial Group. (Shutterstock). 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. Here at Samba if you have the talent and the drive, the leadership always says ¨the sky is the limit¨, and I am an example of that. For instance, in the housing industry, banks have partnered with the real estate development fund and the Ministry of Housing where forty thousand (40,000) loans have been approved for forty years now. Emiratis are the most prevalent nationality with 23 entries. They think a bank transaction should be one click away like Uber. 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. Samba for me is home. 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. Select from premium Rania Nashar of the highest quality. He wants to buy a home, he thinks Samba. We know that this year is a bit challenging. You must feel very satisfied indeed. That is our aim. See Photos. “These Arab women are not only driving economic growth in the region, but they are also representative of the Middle East’s strong female leadership and influence across all areas of life, from e-commerce to financial services,” said Khuloud Al-Omian, editor in chief of Forbes Middle East. They will see all these buildings, all the on-going construction — they will see the progress. Copyright: Arab News © 2021 All rights reserved. Rania Nashar Not only has she been the CEO since 2017, her role also made her the first woman to hold the position at a listed bank in the country. Despite of this we have beaten them in some of the world’s key metrics, even surpassing what some of these more advanced countries have achieved. Raja Al Gurg (#84 on the Forbes list) manages her family’s business, which was first founded by her father. If a day has 24 hours, I spend nine to ten hours of it in Samba each day. Banks are now becoming more innovative, creative, and they are tapping sectors that were previously unbankable. I have been working for this bank for the last twenty-two years. See Photos. 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. 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. 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. Rania Nachar. 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. What I like about Vision 2030 is that it bet on the citizens of Saudi Arabia, its youth, and it bet on the future. Nashad Rania. Ms. Rania Nashar: It’s the highest in Samba’s history. 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. Country Reports: You entered the company in February 2017, and then you had a record year the year after that. “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. Sarah Al-Suhaimi chairs Tadawul, the region’s biggest stock exchange, which recently handled the IPO of the world’s most valuable company, Aramco. 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. We still lag behind in some areas but these are being reviewed and addressed. Country Reports: Fintech companies are having a great effect on the conventional banking sector. They have created the sandbox, and Saudi FinTech. 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. 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. 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. Saudi women "are ambitious and passionate about playing a role in shaping the future of their country", she said. United Kingdom. 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. And 21 women work in their family businesses, with many of them starting out when it was rare to find women in the workplace. We really have to adapt to the way they think. Saudi Arabia became the first Arab country to become a member of FATF or the Financial Action Task Force, which is the global organization that governs anti money laundering and combats terrorism financing. Nashar was ranked the 99th in the list that includes prominent names such as Angela Merkel, Kamaala Harris, Melinda Gates, Rihanna, & many other global female trailblazers. Country Reports: For lady pilots as well…. We also have a partnership with Monshaat,which is the higher authority for the small and medium enterprises (SME) sector. As banks we have the trust, while they have the innovation. FinTech is meant to disrupt the classic banking industry, however the way we see it is that it is more of a collaboration. 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. Last week we just celebrated one year of women being allowed to drive in Saudi Arabia. London W1B 3HH Rania Nashar, Sarah Al-Suhaimi and Lubna Olayan find special place in the list of exceptional businesswomen. Samba for me is home. "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. Ms. Rania Nashar: It has not been easy. That is what we are aiming for. In the span of a year, more than a hundred thousand loans have been approved. Raja Al Gurg (#84 on the Forbes list) manages her family’s business, which was founded by her father. See Photos. There are 21 women from the banking and financial services sector, including four from stock exchanges and financial regulators. It’s amazing. The bank buys them fully furnished, and then hands them over to the needy. Rania Anani Nachar. They are creating solutions, they are working hand-in-hand with the government, and the achievements that the banking sector contributed to are significant. We have to embrace FinTechs and encourage further collaborations. 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. 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. Country Reports: You already had that dream from when you first started here twenty years ago? I spend more time here. Ms. Rania Nashar: That’s right. Plus the service will be localized and the experience will be publicized across the board. 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. 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. "Together, we will make the difference in this field and support Empower in ensuring gender equality.” If a day has 24 hours, I spend nine to ten hours of it in Samba each day. Last week also marked the first year that women were allowed to pilot planes. Not only does the company have international exposure through its ties with Citibank, it also rewarded employees based on competency. Leaders are being appraised based on their performance similar to CEOs of companies. Saudi Arabai used to spend a lot of money sending these people to education institutions in Jordan, the UAE, in Europe or in the States. “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. Managing Director Raja Easa Al Gurg has overseen the powerful Al Gurg Group, one of the U.A.E.’s oldest family ... Read More. Ms. Rania Nashar: Right now we are working in a very challenging environment where four banks are merging. Rania Naushad. We have our own challenges but we are also addressing and overcoming them. The good thing is that SAMA (Saudi Arabian Monetary Authority) – our Central Bank, is a strong believer in technology. We want to make sure that even with the change in leadership – because we have a new board, and with a new vision on how to deliver things, we would still be able to deliver on our promise to our stakeholders. 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. 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. #2. The changes that are happening now, it surprises many people. 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. or. Ms. Rania Nashar: That is why we focus a lot on changing perceptions, particularly how Saudis are perceived. I have been working for this bank for the last twenty-two years. Being inducted as a member, and being the first Arab country to be done so, is a big achievement for us. Saudi banks are one of the first when it comes to the implementation of international accounting standard. We are a nation that is only eighty-nine years old but what we have achieved, no one else has. How and what it took – blood, sweat, tears – it did not matter, I just did what I had to. In the 2020 list, there are 22 new entries and 23 nationalities represented across 28 sectors. 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. Indian national Renuka Jagtiani (#96 on the Forbes list) has built a retail empire in the UAE. If I compare the time I spend with my family versus the time I spend in Samba, then Samba is home. We see change as the new reality, and it is the best way. 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! “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. Tell us how SAMBA is adapting to this new landscape and investing in technology? 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). 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. So the banks, by contributing and establishing this centre of excellence we help those with autism. Indian national Renuka Jagtiani (#96 on the Forbes list) has built a retail empire in the UAE. “It has been a remarkable year for gender equality and women empowerment," Ms Nashar said. Join Facebook to connect with Rania El Nashar and others you may know. We always meet in these forums and we make sure that we all converge ideas towards the development and delivery of better products and services with our future customers in mind, and not just our current ones. 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. We expected the economy to pick up earlier than how it is currently but hopefully towards the year end the economy will pick up then. Their journey is double or even quadruple the length of time it has taken us to get to where we are today. Ms. Rania Nashar: When it comes to FinTech and technology, Samba has always been known for its many firsts. People named Rania Nachar. 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. 3rd Floor, 207 Regent Street Ms. Rania Nashar: Our Samba footprint was mainly regional. Tell us about your journey getting to the position you hold today. If you look a the cabinet, most high-ranking government officials come from the banking sector. People named Nashad Rania. Rania El-Nashar. We welcome innovation, and the collaboration that we have now with other entities, including our regulator. 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. When you look at this country perhaps it will make you say, “it’s only a desert” but we bet on our resources. Country Reports: Tell us about your international footprint, I know that you already have branches overseas. Mrs. Rania Nashar, CEO of SAMBA and Empower Alliance, mentioned that Empower is working this year to further advance the presence of women in … Emiratis are the most prevalent nationality with 23 entries. 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 … Log In. When he needs to buy coffee, he thinks Samba. When we focus on ourselves, however, and learn about our achievements, we find that they also change perceptions. 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. Raja Al Gurg (#84 on the Forbes list) manages her family’s business, which was first founded by her father. Rania Nashar. 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. Lubna S. Olayan. Country Reports: Samba is currently the third largest bank in terms of assets. When somebody wakes up in the morning, he has to think Samba. 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