Saudi Arabia appointed a former Saudi Aramco executive as the first female to join the board of its central bank, the latest sign that the kingdom is looking to name more women to senior roles in its financial industry.
Sheila Alrowaily, who worked for Saudi Aramco for more than 20 years in trading and investments positions, has been appointed as a board member for the Saudi Central Bank, according to a royal decree. She currently serves as the chief executive officer of Wisayah Investment Co., a firm that invests Saudi Aramco pension funds.
Alrowaily is among a growing number of women taking on leadership roles in finance across the Gulf region.
The kingdom has loosened many of its restrictions on women, which is part of Crown Prince Mohammed bin Salman’s plan to get more Saudis working in the private sector. Over the past few years, authorities have lifted a ban on women driving and allowed them to travel without the permission of a male guardian.
Other women in leadership positions in the kingdom include Sarah Al Suhaimi, chairwoman of Saudi Arabia’s stock exchange, and Rania Nashar, compliance and governance chief at the Public Investment Fund.
Speaking at the inaugural Arabian Business KSA Women’s Excellence Awards in Saudi Arabia earlier this year Mae Al Mozaini, CEO of nusf – The Arab Institute for Women’s Empowerment said that this is an “exciting time to be Saudi women,” especially given that Saudi women are the most educated in the region, and the tenth worldwide.
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