Five Bahraini women have made it to Forbes Middle East’s Top 100 Most Powerful Arab Businesswomen 2017.
Y K Almoayyed & Sons managing director Mona Almoayyed is ranked ninth in the elite group with the next Bahraini on the list being Batelco Bahrain chief executive Muna Al Hashemi in 16th place.
Suha Karzoon, the chief financial officer of Bahrain’s investment arm Mumtalakat, is ranked 27th, while Al Salam Bank chairwoman Shaikha Hessa Al Khalifa ranked 57th.
Securities and Investment Company chief executive Najla Al Shirawi completes the presence of Bahrainis on the list in 89th place.
Ms Almoayyed oversees one of the oldest family businesses in Bahrain, which was founded 77 years ago by her father, stated Forbes Middle East website.
Y K Almoayyed & Sons Group operates in key industry sectors such as automobiles, building materials and luxury goods, and represents more than 300 brands, including Nissan, Daewoo and Komatsu.
Ms Almoayyed was the first woman to be elected to the board of a publicly traded company in Bahrain.
With a bachelor’s degree in business administration, Ms Almoayyed also serves as the vice-chairwoman of Ebdaa Bank for Micro Financing.
The UAE has the highest number of women on the list with 18, followed by Egypt and Lebanon with 16 and 12 women respectively.
Saudi Arabia’s Lubna Olayan, who runs Saudi conglomerate the Olayan Group, tops the list.
“This year, in particular, women across the Arab world appear to be cracking the remaining glass ceilings, and nowhere more so it seems than in the banking sector,” stated Forbes.
“The region’s banks have raised several high-achieving and long-serving women to its highest positions, with the industry representing 28 per cent of the 2017 list.”
Forbes Middle East, a UAE-based regional media brand, said it collected information from annual reports and company websites as well as other primary sources to compile its list.
As for methodology and criteria, it looked at: company revenues or GDP in the case of government departments and ministries; years of experience and scope of the role or ministry.
“Arab women are not only taking the helm in business and holding senior leadership positions, but they are also excelling in all areas of life such as community service, sports, adventure, entrepreneurship and social media,” said Forbes Middle East editor-in-chief Khuloud Al Omian.
“These women are providing senior leadership in different sectors ranging from banking and financial services, diversified, petrochemicals to healthcare, investments and retail.”
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