• The 2023 ranking of the Middle East’s 100 Most Powerful Businesswomen includes 104 women from 27 countries and 27 industries.
• With 15 and 12, respectively, the UAE and Egypt had the most entries, followed by Saudi Arabia with 11, Kuwait with eight, and Lebanon, Oman, and Qatar with six apiece.
• 23% of those on the list work in banking and financial services.
Forbes Middle East has unveiled its annual list of the region's most influential businesswomen for 2023, recognising the female leaders advocating business success in the Middle East and beyond. The list was compiled based on the size of the company, the individual's influence, accomplishments, and performance during the previous year, and the scale of CSR and other efforts undertaken by the individual.
Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (FAB), rose two places this year to take top position. FAB concluded a merger with Bank Audi Egypt under the name of FABMISR in June 2022, making it one of Egypt's major foreign banks, with assets totaling $10 billion as of March 2022. The top three were completed by Raja Easa Al Gurg, Chairman and Managing Director of Easa Saleh Al Gurg Group, and Lubna S. Olayan, Chair of the Saudi British Bank and Chair of the Executive Committee and Deputy Chair of Olayan Financing Company. Sheikha Khaled Al Bahar of NBK is ranked #1 in Kuwait and fourth in the region. Al Rostamani and Al Gurg were both included to Forbes' list of the World's 100 Most Powerful Women in 2022.
The 2023 list honours business giants from 27 different countries and 27 industries. With 15 and 12 entries, respectively, Emirati and Egyptian women lead the list. They are followed by Saudi Arabia, which has 11 listees, Kuwait, which has eight, and Lebanon, Oman, and Qatar, which each have six. Bank and financial industry leaders account for 23 of the 100 listees. Diversified conglomerates and the investment business come in second and third, with 11 and eight women, respectively.
Shaista Asif, Cofounder and Group COO of PureHealth Group; Hanan Mohamed Al Kuwari, Managing Director of Hamad Medical Corporation (HMC); and Wadha Ahmed Al-Khateeb, CEO of Kuwait National Petroleum Company, joined the top 10 for the first time (KNPC). Half of the top ten women are employed in the banking and financial services business.
Several of the businesswomen on this year's list place a high value on education and empowerment programmes. Sima Ganwani Ved, Founder and Chairperson of The Apparel Group, founded its Digital Learning Academy in October to provide multilingual courses in the GCC. RAMSCO's Founder and Chairperson, Rawya Mansour, initiated a collaboration with the National Council for Women to empower women in Africa via an organic farming project and an entrepreneur's initiative for zero-waste eco-villages. Hind Bahwan, Founder and Chairwoman of Bahwan CyberTek Group, has inked an agreement with Dubai's Heriot-Watt University to provide students with internships and deep work immersions in order to meet the rising need for new technologies such as AI, ML, and IoT.
Top 10 Most Powerful Businesswomen In The Middle East 2023
Hana Al Rostamani
Nationality: Emirati
Position: Group CEO, FAB
Raja Easa Al Gurg
Nationality: Emirati
Position: Chairperson & Managing Director, Easa Saleh Al Gurg (ESAG)
Lubna S. Olayan
Nationality: Saudi
Position: Chair of Saudi British Bank; Chair of the Executive Committee and Deputy Chair of Olayan Financing Company
Shaikha Khaled Al Bahar
Nationality: Kuwaiti
Position: Deputy Group CEO, National Bank of Kuwait Group
Renuka Jagtiani
Nationality: Indian
Position: Chairwoman, Landmark Group
Wadha Ahmed Al-Khateeb
NEWCOMER TO TOP 10
Nationality: Kuwaiti
Position: CEO, Kuwait National Petroleum Company (KNPC)
Sarah Al Suhaimi
Nationality: Saudi
Position: Chairperson, Saudi Tadawul Group
Hanan Mohamed Al Kuwari
NEWCOMER TO TOP 10
Nationality: Qatari
Position: Managing Director, Hamad Medical Corporation (HMC)
Shaista Asif
NEWCOMER TO TOP 10
Nationality: Pakistani
Position: Cofounder & Group COO, PureHealth Group
Randa Sadik
Nationality:Jordanian
Position: CEO, Arab Bank
Top 5 Women In Banking & Financial Services
Hana Al Rostamani
Nationality: Emirati
Position: Group CEO, FAB
Lubna S. Olayan
Nationality: Saudi
Position: Chair of Saudi British Bank; Chair of the Executive Committee and Deputy Chair of Olayan Financing Company
Shaikha Khaled Al Bahar
Nationality: Kuwaiti
Position: Deputy Group CEO, National Bank of Kuwait Group
Sarah Al Suhaimi
Nationality: Saudi
Position: Chairperson, Saudi Tadawul Group
Randa Sadik
Nationality: Jordanian
Position: CEO, Arab Bank