Top 10 Powerful Arab Businesswomen in 2023

Lubna S. Olayan leads a major Saudi Arabian conglomerate with over 40 companies. A trailblazer, she broke gender barriers by joining her father's holding in 1983. In 2004, she became the first woman elected to the board of a publicly traded company, Saudi Hollandi Bank. In April, she joined the board of Saudi mining company Ma’aden as a representative of the Public Investment Fund. Olayan, who studied agriculture at Cornell University and earned an MBA from Indiana University, continues to make significant contributions to the Saudi business landscape.

Last year, President Abdel Fattah Al-Sisi appointed Lobna Helal as the Deputy Governor of Egypt's Central Bank. Amid challenges of high inflation and a weak currency, Helal brings significant experience to the role. Notably, this is not her first tenure at the central bank; in 2011, she made history as the first woman to serve on its board, holding the position of Second Deputy Governor before resigning in 2013. In the interim, Helal assumed leadership roles, serving as the Chair and Managing Director of the Egyptian Company for Mortgage Refinance. Beyond her central banking responsibilities, she holds the position of Deputy Chair at the Egyptian Banking Institute, the official training arm of the central bank. Recently, she also joined the board of Telecom Egypt, showcasing her diverse and impactful contributions to the financial and corporate sectors in Egypt.

Raja Easa Al Gurg has been at the helm of the influential Al Gurg Group, one of the U.A.E.’s oldest family businesses, since 1990. Established five decades ago, the conglomerate oversees 28 companies and maintains 370 partnerships with global giants like Unilever, British American Tobacco, and Siemens. Al Gurg holds positions on various corporate boards, including HSBC Bank Middle East and Coutts Bank. Frequently participating in official trade delegations, Al Gurg is an active contributor to philanthropic and women's societies in the U.A.E. Her leadership extends beyond business, contributing to societal development. Al Gurg earned her Bachelor’s degree in English Literature from Kuwait University in 1977, laying the foundation for her impactful career in the corporate and philanthropic realms.

Fatima Al Jaber helps guide one of the U.A.E.’s largest privately-owned construction firms, with around $5 billion in assets and 55,000 employees. Al Jaber Group is reportedly in negotiations to restructure debts. A company spokesperson will not comment, except to say that everything is ok. Since joining the company in 2007, Al Jaber has overseen the development of some of the U.A.E.’s biggest projects, including Abu Dhabi International Airport. She has held various positions within Abu Dhabi’s municipal government, and has been an outspoken advocate for the advancement of women and young people. In 2009, Al Jaber became the first Emirati woman to be elected to the board of the Abu Dhabi Chamber of Commerce. She earned a Bachelor’s degree in Architectural Engineering from United Arab Emirates University in 1987.

Sheikha Al Mayassa, the dynamic 33-year-old sister of the Emir, stands as a formidable presence in the global art arena. At the forefront of Qatar's ambitious pursuit to establish itself as the Middle East's foremost hub for arts and culture, she has curated an extraordinary art collection boasting luminaries such as Damien Hirst, Andy Warhol, and Mark Rothko, including a record-setting $250 million Cezanne masterpiece. A 2005 graduate of Duke University with a Bachelor's degree in literature and political science, Sheikha Al Mayassa has not only made waves in the art world but has also demonstrated a profound commitment to philanthropy. Co-founding Reach Out To Asia under the auspices of the Qatar Foundation, she has played a pivotal role in ensuring that children have access to education, embodying the convergence of her passion for the arts and her dedication to social progress.

A trailblazer in finance, Maha Al-Ghunaim co-founded Global Investment House in 1998. A significant milestone was achieved a decade later when it became the first Kuwaiti firm to list on the London Stock Exchange. Unfortunately, the timing coincided with the 2008 financial crisis, leading to losses and eventual delisting. In 2014, facing challenges, Al-Ghunaim considered resignation but opted to persevere, successfully guiding her firm back to profitability. Today, Global Investment House manages $3.6 billion in assets. Al Ghunaim holds a Bachelor’s degree in Mathematics from San Francisco State University, laying the foundation for her impactful career in finance.

With over 30 years of banking experience, Shaikha Al Bahar is a notable figure in the financial world. Joining the National Bank of Kuwait (NBK) in 1977, she rose to prominence and, in 2014, was appointed Deputy Group CEO after four years as CEO of NBK Kuwait. As the largest commercial lender in the country, NBK consistently garners high credit ratings. Al Bahar also contributes to the boards of various companies, including Turkish Bank and telecom company Zain.

Heading one of Bahrain’s oldest conglomerates, Mona Almoayyed manages over 2,000 employees at YK Almoayyed & Sons, founded by her father in 1940. The conglomerate represents over 300 brands in diverse industries. Almoayyed is an advocate for women’s and minorities' rights, having led organizations such as the Bahrain Business Women’s Society, Migrant Workers Protection Society, and Al Muntada, a forum promoting progressive policies in Bahrain.

Appointed in February 2016, Nezha Hayat leads the Moroccan Capital Market Authority, regulating the country’s financial markets. Her impressive career includes being the first woman on a bank board in Morocco and executive roles at the Casablanca Stock Exchange since 1996. Hayat champions women in the workplace and co-founded the Association des Femmes Chefs d’Entreprises du Maroc. Recognizing her achievements, the government appointed her an Officer of the Order of the Throne three years ago. Hayat holds an MBA from France’s ESSEC Business School (1984).

In June 2016, Khawla al-Asadi made history as the first woman General Director of Iraq’s largest bank, Rafidain Bank. Tasked with restoring the bank's former glory, al-Asadi, who joined Rafidain in 1981 as an accountant, briefly served at Rasheed Bank, Iraq’s second-largest state-owned bank. She earned a PhD in accounting in 2006 from Baghdad University.