Saudi Bank Samba follows bourse in naming woman to top position

Dubai, Riyadh

Saudi Arabia’s Samba Financial Group named Rania Mahmoud Nashar as chief executive officer, the second woman recruited for a top finance-industry position in recent days as the country undertakes unprecedented social and economic change.

Nashar’s appointment is effective February 19, according to a statement to the stock exchange on Sunday. She replaces Sajjad Razvi who resigned for personal reasons. On Thursday, NCB Capital Co. CEO Sarah Al Suhaimi was named the first woman to chair Saudi Arabia’s stock exchange, the region’s largest. The appointments are significant for a country where the female unemployment rate is more than 34 per cent and women aren’t allowed to drive.