Lubna Olayan: contributing to the empowerment of women in the Middle East
Historically, women in the Middle East have had fewer rights than men. Their choice of profession is limited, as are their opportunities for fulfilment. There are exceptions, however, that point to progress in gender equality. One example is Lubna Olayan, one of the most influential businesswomen in the Middle East.
Lubna is a well-known figure in business circles. She has held senior positions in many companies in Saudi Arabia. Today, Lubna is the chairwoman of the Saudi British Bank.
Olayan was born in 1955. Her father was a famous Saudi billionaire who gave her a prestigious education. Lubna studied at American universities. She holds a bachelor’s degree in agriculture from Cornell University and an MBA from Indiana University.
After completing her studies, Lubna returned to Saudi Arabia to join her father’s business. Suliman Olayan founded the Olayan Group, a large conglomerate. His daughter worked there for more than 30 years. Lubna became the head of Olayan Financing Co. It is worth noting that under her leadership, the company grew significantly and expanded its lines of business. Olayan took the family business to a new level, making it one of the largest conglomerates in the Middle East. In addition, her work has impacted the economic landscape of Saudi Arabia as a whole.
Contribution to gender equality issues
Despite her position, Olayan was constantly confronted with gender stereotypes. So, she took decisive steps to make a difference. Lubna’s professionalism enabled her to break through the glass ceiling. She became the first woman to sit on the company’s board of directors in Saudi Arabia. Olayan’s other achievements in this regard are also noteworthy:
1. Lubna became the first woman to join the family business.
2. It wasn’t until 18 years later that Olayan had a female colleague.
3. During her time at Olayan, Lubna has gradually diversified the company’s structure.
4. She implemented various strategies to bring women into management positions.
5. Lubna also helped to attract more women to the company.
She has been able to change conservative society’s attitudes and expand women’s economic rights. Olayan’s efforts have yielded excellent results: women now hold a variety of positions in Olayan Financing.
Philanthropic endeavours
In addition to her business activities, Lubna is an active philanthropist. Her foundation supports various projects in health, education, and poverty alleviation. Olayan also chairs the board of Alfanar. The company is the first venture philanthropy organisation in the region. She also founded a business school at the University of Beirut. The institution is considered one of the best educational projects in the Middle East.