Saudi bourse gets first female chair 02/17/2017 | By Annie Tsoneva, EMIS Editor

The appointment of Sarah Al-Suhaimi represents a major shift in the conservative society

The Saudi Stock Exchange appointed on Thursday Sarah Al-Suhaimi, chief executive of investment bank NCB Capital, as its first female chair, according to media reports.

Al-Suhaimi will also keep her job as CEO of investment bank NCB Capital.

In the kingdom, which bans women from driving, she is the first woman to chair a major government financial institution in the kingdom, and among the few woman on executive positions in the Saudi financial sector.

Her appointment is in line with an extensive economic and social reform programme initiated by the government last year. One of its targets is to increase the participation of women in the workforce to 30% from 22% in future.

Some of the main challenges ahead of the stock exchange in the next few years will be listing its own shares, and the floating of oil company Saudi Aramco, which is to be the world’s largest IPO.

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Original source: Al Bawaba - Arabian Business
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