What does it take to be a successful woman in banking? In most cases, the answer is education, hard work, ambition and the ability to advocate for oneself despite adverse circumstances.
As the Middle East advances its goal of growing women’s representation in C-Suites, there is still much to learn from the leaders who have shattered glass ceilings and made their way to the top of some of the region’s largest financial organisations. To learn from them and celebrate Women’s History Month, Finance Middle East has compiled a list of the top women in banking in the region.
The entries have been chosen taking into account the organisation the executives work for, their current position, location, achievements and contributions to advancing women’s empowerment in their sector. All the names have been listed in alphabetical order.
Dalal Al Qais
Role: Group CEO
Bank: Bahrain Development Bank (BDB)
Location: Bahrain
Nationality: Bahraini
Al Qais is a seasoned retail banker with two decades of experience within the GCC region. She was appointed to her current role in December 2021. Before that, she was the first Bahraini female to hold the position of Head of Retail Banking for Bahrain Islamic Bank. Al Qais has also held leadership roles at United Bank and Standard Chartered Bank, where she worked for 16 years and undertook regional responsibilities over Bahrain, Qatar and Oman.
Al Qais holds a Master’s Degree in Finance from AMA International University of Bahrain and a Bachelor’s degree in Management and Marketing from the University of Bahrain.
Dalia El Baz
Role: Executive Deputy Chairman
Bank: National Bank of Egypt (NBE)
Location: Egypt
Nationality: Egyptian
El Baz is the first Egyptian woman ever to serve as Executive Deputy Chairperson of NBE—the largest bank in Egypt in terms of assets. El Baz started her banking career in 1995 at Barclays Bank Egypt. She joined NBE in 2008 as part of the team that contributed to the development of the bank’s business by activating the role of the Operational Risk Group. In 2015, she became NBE’s COO and took on her current role in September 2017. In this position, she oversees risk, banking operations, information technology, internal control, project management, business process optimisation, debt recovery and credit administration.
El Baz graduated from the American University in Cairo in 1995, majoring in Business Administration with a minor in Economics.
Ebru Pakcan
Role: Head of Middle East and Africa
Bank: Citigroup
Location: UAE
Nationality: British
Born in the United Kingdom, Pakcan joined Citigroup in 1997, spending the majority of her career in the London office. She assumed her current role leading the MEA Cluster in 2021, markets and is currently based in Dubai, where she serves clients across 59 markets. Pakcan also sits on the board of Citigroup Saudi Arabia and has been a member of the board of the CHAPS Clearing Company in the UK and the Clearing House Payments Company, in the US.
Pakcan holds a degree in Computer Engineering from Turkey’s Bogazici University in Istanbul.
Elham Mahfouz
Role: CEO
Bank: Commercial Bank of Kuwait (Al-Tijari)
Location: Kuwait
Nationality: Egyptian
With 38 years of banking experience, Mahfouz is one of Kuwait’s leading bankers. She was selected to head Al-Tijari ten years ago, in November 2014. Under her leadership, the bank has recorded a net profit of $322.5 million in the first nine months of 2023. Last year, Al-Tijari also issued its first Subordinated Tier II capital, with a total facility amounting to around $308 million. Mahfouz also sits on the Advisory Board for the American University of Kuwait.
Mahfouz holds a bachelor’s degree with honours in Business Administration from the American University in Cairo, Egypt.
Enji Ahmed Al Ghazzawi
Role: COO
Bank: Riyadh Bank
Location: Saudi Arabia
Nationality: Saudi Arabian
In 2022, Al Ghazzawi became the COO of Riyad Bank—one of the largest financial institutions in Saudi Arabia—after holding several leading positions in the bank, including those of EVP of Operations, EVP of Corporate Banking, Head of Corporate Banking and Head of Payments Section in the Operations Division. Al Ghazzawi has also been a faculty member at King Saud University and a Board Member at GOSI and SIMAH Credit Bureau.
She holds a bachelor’s degree in English Language and Translation from King Saud University in Saudi Arabia.
Hana Al Rostamani
Role: Group CEO
Bank: First Abu Dhabi Bank (FAB)
Location: UAE
Nationality: Emirati
The first female CEO of a UAE-based bank, Al Rostamani heads FAB, an institution with over $300 billion in total assets. In 2023, FAB reported a net profit of Dh16.4 billion, with its total income reaching Dh27.8 billion. Al Rostamani has also served as an Independent Director of the Emirates Integrated Telecommunication Company (Du) and Vice-Chairperson of the Emirates Institute for Banking and Financial Services. She is currently a board member of the AW Rostamani Group, chairperson of FAB Private Bank Suisse, a member of MasterCard Advisor and Chair of the Global Council on the Sustainable Development Goals.
Al Rostamani has a Bachelor of Science in Business Administration and a Master of Science in Information Management from George Washington University in the US.
Huda Sabil Abdullah
Role: CFO
Bank: Emirates Islamic Bank
Location: UAE
Nationality: Emirati
In 2019, Huda was appointed as Chief Financial Officer at Emirates Islamic, the Islamic banking arm of the Emirates NBD Group. At Emirates Islamic, Huda is responsible for the bank’s Finance function, financial strategies, business objectives, budget and performance management. In 2023, the bank reported a 71% increase in net profits, which soared to Dh 2.12 billion. Huda began her career as a Personal Services Officer at Emirates Bank. She is currently a member of the Dubai Financial Markets board.
Huda is a Certified Management Accountant (CMA) and Islamic Professional Accountant (CIPA). She also has a Bachelor’s degree in Business Administration from Ajman University, in the UAE.
Lama Ahmed Ghazzaoui
Role: CFO
Bank: Saudi Awwal Bank (SAB)
Location: Saudi Arabia
Nationality: Saudi Arabian
Ghazzaoui was appointed to her current position in April 2021, after eight years as the CFO of Saudi Arabia’s National Bank (formerly NCB), the country’s largest lender. She first started in MIS reporting—and has served as the financial controller of the Treasury Department since 2005. In 2023, SAB recorded a net profit of SAR7 billion ($1.86 billion) an increase of 45% compared to 2022.
Ghazzaouni has a Bachelor’s degree in Accounting from the Lebanese American University in Lebanon, and obtained her CPA accreditation from the State of Colorado State University, in the US.
Dr Leonie Ruth Lethbridge
Role: COO and Executive General Manager
Bank: Commercial Bank of Qatar
Location: Qatar
Nationality: Australian
Lethbridge joined Commercial Bank in July 2017. The bank was reported to have an estimated market value of $5.8 billion as of January 2024 and reported a net profit of $827 million for 2023. Lethbridge has oversight of the bank’s innovation entity, CB Innovation Service,s and is a board member of Alternatif Bank and Alternatif Lease Company, in Turkey. Before joining the Qatari bank, she was the CEO of ANZ Royal Bank, a joint venture of Australia and New Zealand Banking Group in Cambodia, and worked as a management consultant.
Lethbridge holds a PhD in Entrepreneurship from Swinburne University of Technology and a Master’s Degree in Applied Science from RMIT University, in Australia.
Lubna Suleiman Al Olayan
Role: Chairperson
Bank: Saudi Awwal Bank (SAB)
Location: Saudi Arabia
Nationality: Saudi Arabian
Al Olayan made history in 2004 when she became the first woman to join the board of a Saudi publicly listed company: Alawwal Bank. She continued trendsetting when she was selected to run the bank formed out of a merger between the Saudi British Bank (SABB) and Alawwal Bank in 2018, becoming the first Saudi woman to lead a bank. She also served as CEO of the Olayan Financing Company between 1986 and 2019 and continues to be a board member of the Olayan Investments Company Establishment. In addition, she was appointed to join the World Economic Forum’s Board of Trustees in September and has been on the International Advisory Boards of Rolls-Royce and Citigroup.
Al Olayan has a Bachelor of Arts/Sciences from Cornell University, a Master of Business Administration from the Kelley School of Business, in the US and an honorary PhD in Law from Ireland’s Trinity College.
Mira Hamad Abdullah Al Attiya
Role: CEO
Bank: QNB Capital
Location: Qatar
Nationality: Qatari
This year, Al Attiyah is celebrating her tenth anniversary as head of QNB Capital, the investment banking subsidiary of QNB Group. Over the last five years, she has acted as a joint lead manager on several local, regional and international sovereign and corporate bond and sukuk offerings totalling over $50 billion. In 2023, she acted as the sole listing advisor on the listing of Dukhan Bank on the Qatar Stock Exchange. Al Attiyah previously served as Assistant Undersecretary for Trade Affairs at the Ministry of Commerce and Industry and has held several senior positions within the Ministry and at the Supreme Council of Information and Communication Technology.
Al Attiyah has a degree in Computer Science from Qatar University, a Master’s in Project Management from George Washington University, in the US and an eMBA from Harvard Business School.
Nadia Al Saeed
Role: CEO
Bank: Bank of Etihad
Location: Jordan
Nationality: Jordanian
Al Saeed joined Bank al Etihad, Jordan’s third largest bank by total assets, in 2001 and was appointed to her current position in 2013. By the end of September 2023, the bank had $10.2 billion in assets. Al Saeed was Jordan’s Minister of Information Communication Technology between 2003 and 2006. She is also the chairperson of Endeavor Jordan, a board member of EDAMA (Energy, Water & Environment) and a board member of the Jordan Loan Guarantee Corporation.
Al Saeed has a Bachelor’s degree in Economics and Business Administration from the University of Jordan and a Master of Business Administration from the American University in Cairo, Egypt.
Najla Al Shirawi
Role: CEO
Bank: SICO BSC
Location: Bahraini
Nationality: Bahraini
Al Shirawi has been working with SICO since 1997 and was appointed CEO in 2014. In 2023, SICO reported $11.6 million in consolidated net profit, a 23% increase from the $9.4 million) recorded in 2022. She previously served with Geneva-based Dar Al-Maal Al-Islami Trust, where she established private banking operations for the group in the Gulf region. Al Shirawi is also a board member of the Bahrain Economic Development Board and the Bahrain Commercial Facilities Company. She is also an Independent Board Member of Eskan Bank BSC(c), Bahrain, and a Board Member of the Deposit Protection Scheme, Bahrain; the Future Generations Reserve Council; the Bahrain Associations of Banks; and the Bahrain Institute of Banking and Finance. She is also the chairperson of two SICO subsidiaries: SICO Funds Services Company in Bahrain and SICO Financial Brokerage in Abu Dhabi.
Al Shirawi holds a Master of Business Administration and Finance from the American College in London and a Bachelor’s Degree in Civil Engineering from the University of Bahrain.
Randa Muhammad Sadik
Role: CEO
Bank: Arab Bank
Location: Jordan
Nationality: Jordanian
With over 37 years of industry experience, Sadik assumed the role of CEO of Arab Bank in February 2022. The bank reported a 52% growth in net income in 2023, amounting to $829.6 million, compared with $544.3 million in 2022. Sadik holds several positions within the Arab Bank Group, including Chairman of the Arab Tunisian Bank, Vice Chairman of Arab Bank Australia, board member of Oman Arab Bank, and Chairman of the Management Committee of the Al-Arabi Investment Group. Previously, Sadik spent 24 years at the National Bank of Kuwait, where she was named Group General Manager of the International Banking Group.
Sadik has a Bachelor’s degree in Business Administration and a Master’s degree in Business Administration from the American University of Beirut, in Lebannon.
Rasha Badawi
Role: CEO
Bank: Barclays Private Bank UAE & Head of MENA
Location: UAE
Nationality: Canadian
Badawi specialised in private banking, cultivating strong relationships with UHNWIs, family offices, and royal and merchant families across the Middle East and beyond. She joined Barclays in 2011 as a Director and Senior Private Banker for the Qatar Market and served as Head of Qatar and Saudi Arabia before assuming her current role as CEO. Before Barclays, Badawi held roles at HSBC, Standard Chartered and Bank J. Safra Sarasin.
Badawi holds a CEFA with distinction and a Bachelor’s degree in Business Administration from the American University of Beirut.
Rola Abu Manneh
Role: CEO
Bank: Standard Chartered UAE
Location: UAE
Nationality: Emirati
The first Emirati to head a bank in the UAE, Abu Manneh assumed her current role in 2018 where she is championing women in the industry. She is also the director of the board of Standard Chartered in Pakistan and Uganda and a board member at the Dubai International Chamber and myZoi. Previously, Abu Manneh served FAB as Head of Corporate and Investment Banking for Abu Dhabi and General Manager, FAB Wholesale Banking Group, which is comprised of Project Finance Syndications, Financial Institutions Group and Global Transaction Banking.
Abu Manneh has a Bachelor’s degree in Mathematics and Operational Research from the Royal Holloway University in the UK.
Shaikha Khaled Al Bahar
Role: Deputy Group CEO
Bank: National Bank of Kuwait (NBK)
Location: Kuwait
Nationality: Kuwaiti
Al Bahar is another woman on this list celebrating a decade in her current role. She was appointed Deputy Group CEO of NBK, the country’s leading financial institution in 2014, and holds over 30 years of industry experience. She led the launch of Weyay, Kuwait’s first digital bank. Between 2010 and 2013 Al Bahar led the Group’s Kuwait operations as NBK-Kuwait CEO, consistently contributing more than 70% of the Group’s profits. Al Bahar is also the chairperson of the National Bank of Kuwait France and the National Bank of Kuwait (Egypt) and a board member of the National Bank of Kuwait (International) P.L.C., the group’s UK subsidiary. She was also a member of Kuwait’s Supreme Council for Planning and Development between 2017 and 2021.
Al Bahar holds a Bachelor’s degree in International Marketing with a minor in Statistics from Kuwait University. She also attended several executive management programs at reputable universities and business schools including Harvard, INSEAD, Wharton, Stanford and Duke as well as the National University of Singapore.
Shamsa Al Falasi
Role: Onshore CEO
Bank: Citibank UAE
Location: UAE
Nationality: Emirati
The second Citi employee on this list, Al Falasi will soon celebrate one year since her appointment as CEO of Citibank, N.A. At the same time, she assumed the role of the Chief Administrative Officer (CAO) UAE across all Citi entities operating onshore and offshore in the country. Al Falasi joined Citi upon her graduation and has been serving the bank for almost 20 years, working across many geographies including Brazil, Ireland, Iraq and the UK, before being appointed as Senior Business and Relationship Manager for the MENA and Turkey region based in the UAE. In 2015, Al Falasi was appointed as Head of the Global Subsidiaries Group (GSG) for the UAE and Iraq, a role that was expanded in 2018 to include regional responsibilities as Head of GSG in GCC and Iraq based in the UAE.
Al Falasi has a degree in Financial Services and Banking from the Higher Colleges of Technology, in the UAE.
Sheikha Yousuf Al Farsi
Role: COO
Bank: Bank Muscat
Location: Oman
Nationality: Omani
Al Farsi is the COO of Bank Muscat, the largest bank in Oman, with a customer base of over 2.4 million, as of September 2023. Before her current role, Al Farsi was the Chief of Strategy and Corporate Services Officer and the General Manager of Strategy and Organisational Development. Previosly, she worked at the Omani Centre for Investment Promotion and Export Development. Al Farsi currently sits as an independent board member on the Board of Directors at the Housing Bank for Trade and Finance.
Al Farsi holds a degree from the University of Sultan Qaboos, in Oman, and a graduate degree from Bayes Business School, in the UK.
