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Hana Al Rostamani, group CEO of First Abu Dhabi Bank (FAB), has moved up two spots to number one this year on Forbes Middle East’s 2023 list of most powerful women entrepreneurs.
According to a press release from Forbes Middle East, in June 2022, FAB completed its merger with Egypt’s Audi Bank under the umbrella of FABMISR, making it one of the largest foreign banks in Egypt, with assets worth $10 billion as of March 2022.
Raja Easa Al Gurg, Chairman and Managing Director of the Easa Saleh Al Gurg Group, and Lubna S. Olayan, Chairman of the Saudi British Bank and Chairman and Vice-Chairman of the Executive Committee of Olayan Financing Company rounded out the top three.
Sheikh Khalid Bahar
NBK’s Sheikha Khaled Al Bahar ranked first in Kuwait and fourth regionally. Al Rostamani and Al Gurg were also named to Forbes’ 2022 list of the 100 Most Powerful Women in the World.
The list is constructed based on the size of the business, the individual’s impact, accomplishments and performance over the past year, as well as the range of CSR and other initiatives the individual has led.
The 2023 ranking recognizes business leaders from 27 different countries and 27 industries. Emirati and Egyptian women dominate the list with 15 and 12 women respectively. It was followed by Saudi Arabia with 11 listed companies, Kuwait with eight, and Lebanon, Oman and Qatar with six each. Leaders in the banking and financial services industry accounted for 23 of the 100 people on the list.
Diversified conglomerates and investment industries follow with 11 and 8 women respectively.
industry disruptor
Three industry disruptors enter the top ten for the first time: Shaista Asif, Co-Founder and Group COO, PureHealth Group; Hanan Mohamed Al Kuwari, Managing Director, Hamad Medical Corporation (HMC); Wadha Ahmed Al Kuwari, CEO, Kuwait National Petroleum Corporation (KNPC) -Khateeb. Half of the top 10 women work in banking and financial services.
Many of the women entrepreneurs in this year’s ranking place a strong emphasis on education and empowerment initiatives. Apparel Group, led by founder and chairman Sima Ganwani Ved, launched a digital learning academy in October to offer bilingual courses in the GCC. Rawya Mansour, founder and chairman of RAMSCO, spearheads a partnership with the National Council of Women to empower women in Africa through organic farming projects and an entrepreneurial zero-waste eco-village initiative. Hind Bahwan, founder and chairman of Bahwan CyberTek Group, has signed a memorandum of understanding with Heriot-Watt University in Dubai to provide students with internships and in-depth work immersion to meet growing interest in emerging technologies such as artificial intelligence, machine learning and the Internet of Things demand.
Top 10 Most Powerful Women Entrepreneurs in the Middle East 2023
*Hana Alrostamani
Nationality: UAE
CEO of FAB Group
*King Essa Gurg
Nationality: UAE
Chairman and Managing Director, Easa Saleh Al Gurg (ESAG)
*Lubna S. Olayan
Nationality: Saudi
Chairman of Saudi British Bank; Chairman of the Executive Committee and Vice Chairman of Olayan Financial Company
* Sheikha Khalid Bahar
Nationality: Kuwait
Vice President, National Bank of Kuwait Group
*Renuka Jatiani
Nationality: Indian
Chairman of Landmark Group
*Wadha Ahmed Al-Khateeb
Top 10 New Members
Nationality: Kuwait
CEO of Kuwait National Petroleum Company (KNPC)
*Sara Suhaimi
Nationality: Saudi
Chairman of Saudi Tadawul Group
* Hanan Mohammad Al-Kuwari
Top 10 New Members
Nationality: Qatar
Managing Director, Hamad Medical Company (HMC)
* Shaista Asif
Top 10 New Members
Nationality: Pakistani
Co-Founder and Group Chief Operating Officer, PureHealth Group
* Sadiq Widow
Nationality: Jordanian
CEO of Arab Bank
Top 5 Women in Banking and Financial Services
*Hana Alrostamani
Nationality: UAE
CEO of FAB Group
*Lubna S. Olayan
Nationality: Saudi
Chairman of Saudi British Bank; Chairman of the Executive Committee and Vice Chairman of Olayan Financial Company
* Sheikha Khalid Bahar
Nationality: Kuwait
Vice President, National Bank of Kuwait Group
*Sara Suhaimi
Nationality: Saudi
Chairman of Saudi Tadawul Group
* Sadiq Widow
Nationality: Jordanian
CEO of Arab Bank — trade arab news agency
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