Lubna Al Olayan appointed as first woman Saudi bank head

Lubna Al Olayan has been appointed as the chairperson of a Saudi Arabian bank, first women in the history to run a bank of the country.

The businesswoman will chair a new bank being formed out of a merger between the Saudi British Bank (SABB) and Alawwal Bank, reports BBC.

The merger will lead to the creation of Saudi Arabia’s third largest bank, with a capitalisation of $17.2 billion.

Educated in the US, Lubna Al Olayan topped the Forbes list of Middle East's Most Influential Women in 2018.Her appointment comes amid a wider liberalisation of women’s roles in Saudi Arabia.

In June, Saudi women were officially allowed behind the wheel for the first time, after a driving ban was lifted.

Currently the head of a family conglomerate, Ms Olayan is seen as a trailblazer for Saudi women in the finance industry.