The Middle East’s Power Businesswomen 2021

1. Raja Easa Al Gurg Group Managing Director

COMPANY: Easa Saleh Al Gurg

NATIONALITY: Emirati

SECTOR: Diversified

Al Gurg is the managing director and vice chairperson of U.A.E.-based Easa Saleh Al Gurg Group (ESAG), a family-owned conglomerate that has been operating for more than 60 years. She has been with the company for more than 30 years.

Al Gurg is also a proponent of gender equality. She serves as the president of the Dubai Business Women Council, and as a board member of the Dubai Women’s Association and the Dubai Chamber of Commerce and Industry. She was also the first Emirati woman to be appointed to the board of HSBC Middle East. Al Gurg was recently appointed as deputy chairman of the National Bank of Fujairah. She ranked #89 on Forbes’ list of The World’s Most Powerful Women 2020.

ESAG owns 27 companies operating in industries such as retail, construction and real estate, and has joint ventures with brands such as Siemens and Unilever. In 2020, the diversified group and its charity foundation announced a $3.5 million package to support U.A.E. government initiatives to alleviate challenges brought about by the COVID-19 pandemic.

2. Renuka Jagtiani Chairwoman & CEO

COMPANY: Landmark Group

NATIONALITY: Indian

SECTOR: Retail

For more than 20 years, Jagtiani has led the corporate strategy and expansion efforts of U.A.E.-based conglomerate Landmark Group, one of the biggest retail conglomerates in the Middle East.

Jagtiani oversees more than 50,000 employees. She has helped grow the group’s fashion and hospitality businesses, which offer brands like Splash, Babyshop, Home Center, and Krispy Kreme. Currently, the group operates over 2,300 outlets, encompassing over 30 million square feet across 22 countries. Jagtiani ranked #98 on Forbes’ list of The World’s Most Powerful Women 2020.

The Landmark Group and the Jagtiani Foundation have taken on a number of initiatives to support communities impacted by the COVID-19 pandemic in the Middle East and India, pledging a total of nearly $4 million.

3. Hana Al Rostamani Group CEO

COMPANY: FAB

NATIONALITY: Emirati

SECTOR: Banking and Financial Services

FAB announced in late January that Hana Al Rostamani,Deputy Group CEO and Head of Personal Banking, will succeed André Sayegh as the new Group CEO. Al Rostamani has more than 22 years of experience in the field of banking and financial services. She is a board member of the AW Rostamani Group, chairperson of FAB Private Bank Suisse, and a member of MasterCard Advisory.

The personal banking group at FAB Group contributed 37% of the group revenue and generated net profit worth $952 million in 2019. In 2020, the group reported over $5 billion in revenues with $2.9 billion net income.

4. Rania Nashar Senior Advisor to the Governor

COMPANY: Saudi’s Public Investment Fund

NATIONALITY: Saudi

SECTOR: Banking and Financial Services

Nashar was appointed CEO of Saudi Arabia’s Samba Financial Group in 2017, making her the first female CEO of the bank. Nashar led the bank for nearly four years, where it earned around $2 billion in total operating income in the first nine months of 2020. Last year, it was announced that the bank would merge with the National Commercial Bank to create a new bank worth $223 billion in assets. Nashar stepped down from her role as CEO from January 31, 2021. She serves as the Senior Advisor to the Governor of Saudi’s Public Investment Fund, Yasir Al-Rumayyan.

Nashar previously served as a board member for Samba’s global markets subsidiary and has over 20 years of experience in the commercial banking sector. Nashar is also a board member of the Saudi Stock Exchange, Tadawul. She ranked #99 on Forbes’ list of The World’s Most Powerful Women 2020.

5. Sarah Al Suhaimi Chairperson; CEO & Board Member

COMPANY: Tadawul; NCB Capital

NATIONALITY: Saudi

SECTOR: Banking and Financial Services

Al Suhaimi has served as the CEO of NCB Capital since 2014, one of the largest asset management firms in Saudi Arabia and one of the largest sharia-compliant asset managers in the world with over $37 billion of assets under management. She is also a board member.

She also serves as chairperson of the Saudi Stock Exchange, Tadawul, which has a market cap of $2.4 trillion. In 2019, the exchange saw the listing of one of the world’s largest companies, Saudi Aramco, valued at $1.9 trillion.

Al Suhaimi completed the Public Administration Executive Program at Harvard Business School.

6. Lubna Olayan Chairperson

COMPANY: SABB

NATIONALITY: Saudi

SECTOR: Banking and Financial Services

After serving as CEO of Olayan Financing Company for over 33 years, Lubna Olayan announced her retirement in 2019. She still serves as a member of the Board of Directors, Shareholders’ Board and Olayan Family Council. She became chairperson of Saudi British Bank (SABB) in June 2019 and also serves as the chairwoman of Alawwal Bank, which is set to merge with SABB. SABB made $1.8 billion in total operating income in the first nine months of 2020. Olayan was the first woman to join the board of a publicly listed company in Saudi Arabia.

Olayan is a member of one of the wealthiest families in the Middle East, and the Olayan Group ranked third in Forbes Middle East’s top 100 family businesses in the Middle East 2020. She ranked #7 on Forbes’ list of the Most Powerful Women In Finance 2017.

7. Wadha Ahmed Al-Khateeb Deputy CEO Mina Abdulla Refinery COMPANY: Kuwait National Petroleum Company NATIONALITY: Kuwaiti SECTOR: Oil and Gas

Al-Khateeb has been with the Kuwait National Petroleum Company for 25 years and assumed her current position in 2019. In the same year, the company made nearly $25 billion in revenues.

Al-Khateeb was the first woman to head the Gas Processors Association GCC Chapter. She was a board member for the Kuwait Styrene Company during the fiscal year of 2018/19, and she has been chairperson for the Kuwait Paraxylene Production Company since May 2019.

The Mina Abdullah Refinery, which specializes in refining high sulfur heavy crude, currently has a capacity of 270,000 barrels per day and covers an area of 7.835 square kilometers. It is also the second refinery in Kuwait to be registered on the UN’s Clean Development Mechanism.

8. Nezha Hayat Chairperson & CEO COMPANY: Morocco’s Capital Market Authority NATIONALITY: Moroccan SECTOR: Banking and Financial Services

Hayat has been chairperson and CEO of Morocco’s Capital Market Authority since 2016, which is responsible for the country’s non-banking capital markets such as the stock exchange and brokerage firms. The Casablanca Stock Exchange currently has a market cap of more than $65.35 billion.

She is also president of the Africa/Middle East Regional Committee (AMERC) of the International Organization of Securities Commissions until 2022. As an advocate of women’s rights, she is one of the founding members and president of Club des Femmes Administrateurs d‘entreprises in Morocco (CFA Maroc), a non-profit organization that works to promote the participation of women on the boards of directors of public and private companies.

9. Heike Harmgart Managing Director Southern & Eastern Mediterranean Region COMPANY: European Bank for Reconstruction and Development (EBRD) NATIONALITY: German SECTOR: Banking and Financial Services

Harmgart has been in her current role since January 2020. She heads the bank’s operations in Egypt, Jordan, Lebanon, Morocco, Tunisia, and the West Bank and Gaza. She manages a team of 150 staff with an annual business volume of over $2.4 billion.

Harmgart previously worked with the Economist Intelligence Unit and Institute of Fiscal Studies, and has a PhD in economics from University College London.

In 2020, the EBRD unveiled a $1.2 billion emergency coronavirus financing package, as well as committed all the bank’s activities in 2020/21, worth $25 billion, to help its regions counter the impact of the pandemic. The EBRD invested $2.7 billion in the SEMED region in 2020, with more than $16 billion invested in the region since 2012.

Managing Director COMPANY: Y.K. Almoayyed & Sons NATIONALITY: Bahraini SECTOR: Diversified

Y.K. Almoayyed & Sons is a diversified family business in Bahrain operating in market segments including automobiles, electronics and luxury goods. The group represents over 300 international brands including Nissan, Ford, Sony, Nikon and Toshiba. Almoayyed has been with the company for 20 years.

In December 2018, Almoayyed was appointed as a member of the Bahrain Shura Council by HRH King Hamad Bin Isa Al Khalifa. She is also a member of the Public Utilities & Environment Committee, which works towards a greener Bahrain.

11. Shaikha Khaled Al Bahar Deputy Group CEO COMPANY: National Bank of Kuwait Group NATIONALITY: Kuwaiti SECTOR: Banking and Financial Services

NBK is one of the largest banks in Kuwait with $100 billion in assets as of Q3 2020. The bank ranked #10 on Forbes Middle East’s list of the “Top 100 Companies 2020.” It now has 150 branches in 15 countries across four continents.

Al Bahar also serves as the chairperson of Human Development and Urban Planning under Kuwait’s Supreme Council for Planning & Development, where she worked on Kuwait’s healthcare and education reform strategy.

NBK has contributed to social sustainability during the COVID-19 pandemic, donating $3.3 million to Kuwait Red Crescent Society. Al Bahar was ranked #85 on Forbes’ list of Power Women 2012.

12. Henadi Al-Saleh Chairperson COMPANY: Agility NATIONALITY: Kuwaiti SECTOR: Logistics

Al-Saleh oversees Agility’s corporate governance program and leads the technology ventures team. Agility recorded revenue of $3.8 billion in the first nine months of 2020.

Al-Saleh has over two decades of experience and previously worked at NBK Capital in Kuwait.

Agility donated more than $130,000 to “Feena Khair” to support Bahrain’s COVID-19 mitigation efforts. It also shipped 23 tons of glass vials from Italy to Brazil during the peak of the pandemic in Italy, and delivered 150,000 bars of soap and hygiene products across Indonesia for UNICEF.

Director General COMPANY: Smart Dubai NATIONALITY: Emirati SECTOR: Technology

Smart Dubai has launched 130 initiatives with government and private sector entities, including the Dubai Data Initiative, the Happiness Agenda and the Dubai Paperless Strategy. Bin Bishr led the creation of “The Smart City Index,” which was the first-ever benchmark for smart city implementation across the globe in cooperation with ITU and the UN.

Before taking up her current role, Bin Bishr served as the Assistant Director General of the Dubai Executive Office, and worked as the Assistant Undersecretary of the U.A.E. Ministry of Labor.

According to the Emirates News Agency, 62 Dubai government entities benefitted from Smart Dubai’s services during the COVID-19 outbreak, with a 300% increase in capacity in the Government Information Network.

14. Randa Muhammad Sadik Deputy CEO COMPANY: Arab Bank NATIONALITY: Jordanian SECTOR: Banking and Financial Services

Sadik has been in her current role for more than ten years. The Arab Bank has one of the largest global Arab banking networks with over 600 branches spanning five continents. It recorded $52.5 billion in assets and $1.4 billion in total income in the first nine months of 2020.

Sadik previously worked with NBK for 24 years where she was the Group General Manager of the International Banking Group.

Arab Bank Group owns a 49% stake in Oman Arab Bank, which merged with Alizz Islamic Bank in 2020.

15. Eaman Al Roudhan CEO COMPANY: Zain Kuwait NATIONALITY: Kuwaiti SECTOR: Telecommunications

Al Roudhan started her career at Zain in 1998 and has been CEO of Zain Kuwait since 2015, becoming the first female CEO within Zain Group. Zain Kuwait is the group’s most profitable company. Its revenues amounted to $1.1 billion in 2019, with 2.8 million clients and a recorded net income of $273 million.

Al Roudhan has over 23 years of experience and is a member of the GSMA Arab World regional interest group and the GSMA Chief Regulatory Officer Group (CROG).

Zain Kuwait was one of the first operators in the Middle East and Africa to provide 5G technology. The company invested $209 million in capital expenditure in 2019 with a focus on developing its 5G network and digital platform.

16. Elham Mahfouz CEO COMPANY: Commercial Bank of Kuwait NATIONALITY: Egyptian SECTOR: Banking and Financial Services

Mahfouz joined CBK in 2000 and was appointed CEO in November 2014. She has been working in banking and finance for approximately 30 years.

CBK has achieved operating income worth $316 million in the first nine months of 2020 and recorded $56.5 million in net profit.

In September of 2020, credit rating agency Fitch affirmed the bank’s rating at “A+”, with a stable outlook.

17. Mona Zulficar Founding Partner & Chair of Executive Committee; Chairperson COMPANY: Zulficar & Partners; EFG Hermes NATIONALITY: Egyptian SECTOR: Law

A practicing attorney for more than 35 years, Zulficar is a specialist in major restructuring and M&A transactions. She has handled major deals including the sale of Citibank’s retail business to CIB, the acquisition of Piraeus Bank by ABK, and the sale of Barclays Bank to Attijariwafa Bank (AWB).

Zulficar has played a key role in drafting and developing economic legislation as adviser to various governmental entities. She also served as a member of the national drafting committees for the new Telecom Law and the new Capital Market Regulations in Egypt.

18. Pakinam Kafafi CEO COMPANY: TAQA Arabia NATIONALITY: Egyptian SECTOR: Oil and Gas

Kafafi has been in her current role since 2013, before which she was Chief Investment Officer at TAQA Arabia. She started her career in investment banking before joining the Gas & Energy Group, or Genco, in 2003 as an investment manager. Genco was acquired in 2006 by Qalaa Holdings and folded into the newly formed TAQA Arabia.

Last year TAQA Arabia was forced to postpone its highly-anticipated IPO. TAQA has also been able to finalize and secure a $10 million loan by the EBRD to finance renewable energy projects.

19. Salwa Idrissi Akhannouch Founder & CEO COMPANY: AKSAL Group NATIONALITY: Moroccan SECTOR: Retail

Akhannouch founded the AKSAL Group in 2004. The group, which has 1,130 employees, is the sole franchisee for 45 leading brands in Morocco, including Fendi, Gucci, Ralph Lauren, Zara, Banana Republic, Massimo Dutti, Pull & Bear and Gap. In 2008, Akhannouch launched the Morocco Mall, which officially opened three years later.

In 2011, Akhannouch created a Training Academy for careers in retail, the AKSAL Academy. She launched her cosmetics brand Yan&One in 2017 and established the AKSAL SOCIAL INITIATIVE to support social, cultural, educational, and health projects.

20. Amina & Huda Al Rostamani COO, Managing Director COMPANY: AW Rostamani Group NATIONALITY: Emirati SECTOR: Diversified

The AW Rostamani Group was founded in 1954. Today, the group has 14 companies with more than 4,000 employees. The group’s biggest business unit, Arabian Automobiles, is one of the Gulf region’s largest car dealers, holding exclusive rights to distribute Nissan, INFINITI, and Renault. The group’s revenues reached $2 billion.

Amina is the COO of the group, overseeing Group HR, Group IT and Group Strategy. She also oversees the group properties division as the CEO of AWR Properties. Huda has been the managing director and board member of the group since 2007. She monitors and manages the performance of the companies under the group’s portfolio.

21. Elissar Farah Antonios MENA Cluster Head & CEO- U.A.E. COMPANY: Citigroup NATIONALITY: Lebanese SECTOR: Banking and Financial Services

Antonios became the first woman to run the MENA Operations of Citigroup when she was appointed Head of the MENA cluster in December 2020. Antonios joined Citi in 2005. She has more than 30 years of banking experience in the Middle East.

Antonios led the initiative to establish Citi in ADGM, as well as deals with ADNOC, Mubadala, ADIA, Emirates, Etihad, Majid Al Futtaim, DP World, and PWC Middle East.

In 2020, Citi U.A.E. contributed $50,000 to the “UAE 10 million meals initiative” from the Mohammed Bin Rashid Al-Maktoum Humanitarian and Charity Establishment. The charity will use the funds to provide 20,000 meals to communities affected by COVID-19 outbreak in the U.A.E.

22.Reem Asaad Vice President, Middle East and Africa COMPANY: Cisco NATIONALITY: Egyptian SECTOR: Technology

Asaad has over two decades of experience and currently oversees 2,500 employees and contractors at Cisco. The company’s global revenues hit $49.3 billion in the 2019/20 financial year, 26% of which came from the EMEA region.

In 2019, Cisco enabled 538 universities and schools across the region to conduct distance learning via Webex. Over 370,000 students in MENA gained Cisco Networking Academy certifications in the 2019/20 financial year—a 27% increase.

23. Reem Osman CEO, U.A.E. COMPANY: Saudi German Hospitals Group NATIONALITY: Saudi SECTOR: Healthcare

Osman has over 20 years of experience. She has previously received awards for her humanitarian work, and the international organization for development and human rights has nominated her as a peace ambassador.

First founded in 1988, the Saudi German Hospitals Group is one of the largest healthcare providers in the region. In 2019, the group opened new branches in the U.A.E. and Saudi Arabia. It aims to complete six new centers in Dubai by the end of 2021.

24. Zainab Kufaishi Head of Middle East and Africa & Senior Executive Officer, Invesco Dubai COMPANY: Invesco Asset Management Ltd NATIONALITY: British SECTOR: Banking and Financial Services

Kufaishi has 17 years of experience, of which she has spent 11 years with Invesco. She has also served on the board of the Dubai chapter of Ellevate, a professional women’s networking organization.

Invesco’s revenues for the region grew by over 25% in 2020. It achieved total operating revenue worth nearly $1.5 billion during the third quarter of 2020, and has reported assets under management of $1.2 trillion by the end of November 2020. In 2020, Invesco contributed over $1 million to global COVID-19 relief efforts.

25. Hend ElSherbini CEO COMPANY: Integrated Diagnostics Holdings (IDH) NATIONALITY: Egyptian SECTOR: Healthcare

ElSherbini has more than 30 years of experience in the healthcare sector, of which she has spent 16 of them with IDH. She started the EDGE certification process with the

World Bank and the International Finance Corporation (IFC), which focuses on measuring gender diversity, inclusivity and health levels in the workplace.

IDH is a consumer healthcare company in the Middle East and Africa with operations in Egypt, Jordan, Sudan, and Nigeria. The group served more than seven million patients across 452 branch labs and recorded revenues of $140 million in 2019. It recorded $106 million in revenues in the first nine months of 2020, out of which $45.8 million was recorded in the third quarter, making it one of the fastest yearon-year growth rates for a single quarter on record for the company.

In 2020, IDH formed a COVID-19 committee and helped to financially support the non-regular workforce who lost their jobs due to the pandemic. The company covered medicine requirements on a monthly basis and donated medical equipment to Cairo University Educational Hospitals.

26. Hoda Mansour Managing Director, Egypt and New Frontiers South Countries COMPANY: SAP MENA LLC NATIONALITY: Egyptian British SECTOR: Technology

In 2020, Mansour was promoted to lead Lebanon, Jordan, Libya, Sudan, Yemen and Palestine. She joined SAP in 2013 and was appointed Managing Director of SAP Egypt in 2018 making her the first woman to be appointed by SAP as a Managing Director in the Middle East and Africa region.

Mansour participated in a campaign to raise $2.5 million in collaboration with the American Chamber of Commerce to help fight COVID-19.

27. Melda Yasar Cebe Managing Director, Middle East And Africa COMPANY: Kraft Heinz NATIONALITY: Turkish SECTOR: Food and Beverage

Cebe is a trained chemical engineer with 19 years of experience in FMCG companies including Procter & Gamble, Gillette, and KraftHeinz. She is one of the few female managing directors in the FMCG industry in the Middle East and Africa. She has worked across more than 15 categories in over 100 countries. Under her leadership, the company gained 5% market share of local sauces in just five months.

Heinz has become the regional market leader in base tomato paste, reaching 17.1% market share in Egypt and 6% in Carrefour.

28. Christelle Saghbini General Manager General Medicines Sanofi Africa Zone & Managing Director Sanofi Egypt COMPANY: Sanofi Egypt NATIONALITY: French SECTOR: Pharmaceuticals

Saghbini has been with Sanofi for more than 20 years, and currently oversees 1,200 people.

Sanofi Egypt has launched more than 10 new treatments in the last two years, and it has signed an MoU with Egyptian health authorities in 2019 to provide educational programs for the proper management of cancer patients in Egypt, in collaboration with the National Training Institute (NTI) and The Egyptian Foundation for Medical Science (EFMS).

29. Marzena Kulis Managing Director, Middle East

COMPANY: Johnson & Johnson Medical Devices NATIONALITY: Polish

SECTOR: Healthcare

Kulis has been with Johnson & Johnson since 2013 and has been leading the medical devices business in the Middle East since 2019. Before this role she managed the company’s $250 million business in Central and Eastern Europe. She previously worked for the World Bank on projects related to healthcare systems and reforms in Poland, the Baltics, and the Balkans.

In 2019, Kulis launched a “Beat Colorectal Cancer” campaign in Saudi Arabia, the U.A.E., Kuwait, Oman, Jordan, Egypt, and Bahrain. The campaign reached 4,000 people, with 1,700 screened, 1,200 tested, and three diagnosed and treated.

30. Haifa Al Khaifi CEO; CFO

COMPANY: Energy Development Oman; PDO NATIONALITY: Omani

SECTOR: Oil and Gas

Haifa was named CEO of Energy Development

Oman (EDO) in January, a new holding company established in late 2020 with the mandate to, among other things, represent the government’s stake in Petroleum Development Oman (PDO), the largest oil and gas producer in the sultanate that produces 1.21 million boe/day. Al Khaifi will lead EDO’s team alongside her role as the Finance Director of PDO, which she has held since 2012 after joining the company in 1998. Haifa was also the board director and treasurer at Oman Society for Petroleum Services (OPAL) for two years.

31. Rola Abu Manneh CEO

COMPANY: Standard Chartered Bank, U.A.E. NATIONALITY: Emirati

SECTOR: Banking and Financial Services

Abu Manneh has been in her current role since 2018. She has over 25 years of experience under her belt. She was the first Emirati woman to head a bank in the U.A.E. and has helped to transform the U.A.E. business into one of the biggest five markets for the Standard Chartered Group. The bank’s total operating income amounted to $503.6 million in 2019, with total assets valued at $13.4 billion.

Since the onset of the global pandemic in March, Standard Chartered has donated over $25 million in the U.A.E. to NGOs, private organizations and local government authorities. In addition, a total of 30,000 N95 masks were donated to Dubai Health Authority and the Authority of Social Contribution (Ma’an).

32. Mervat Zohdy El Sayed Soltan Executive Chairperson

COMPANY: Export Development Bank of Egypt

NATIONALITY: Egyptian

SECTOR: Banking and Financial Services

Soltan has been in her current role since 2016. She has 36 years of banking experience behind her. She previously worked as the Regional Head of Financial Institutions, covering North Africa and the Levant in HSBC Middle East, and was Vice President for Global Transaction Banking in Deutsche Bank Egypt, also covering North Africa and the Levant. Soltan has an MBA from the American University in Cairo.

33. Rita Maria Zniber Chairman & CEO

COMPANY: Diana Holding

NATIONALITY: Moroccan SECTOR: Food and Beverage

Zniber has more than 50 years of experience in the food and beverage industry. She also founded the Rita Zniber Foundation, which enables the adoption of abandoned children.

Diana Holding’s scope includes agriculture, olive growing, poultry farming, and trade and distribution. Its olive sector spans 1,000 hectares of olive groves with an annual production of 500 tons of extra virgin olive oil. Under its agriculture segment is a composting platform that has a production capacity of 10,000 tons per year.

34. Nadia Al Saeed CEO

COMPANY: Bank al Etihad NATIONALITY: Jordanian

SECTOR: Banking and Financial Services

Al Saeed has served as the CEO of Bank al Etihad for over 12 years. Al Saeed spearheaded the bank’s digital transformation, launching an app in 2019, which is now being used by 85% of the bank’s clients on a daily basis. She also served as Jordan’s ICT minister in 2004.

Bank al Etihad is the third largest lender in Jordan by total assets. Assets have grown by more than four times on a consolidated basis under Al Saeed and reached $6.4 billion in 2019. In 2020, it took on a number of initiatives to help alleviate the challenges posed by the pandemic. These included providing SMEs with low interest rates through the Central Bank of Jordan, and partnering with Careem to deliver cash to customers through “Careem Cash.”

35. Jalila Mezni Co-Founder & CEO COMPANY: Societe d’Articles Hygieniques (SAH Group) NATIONALITY: Tunisian SECTOR: Consumer Goods

Mezni co-founded the

Societe d’Articles Hygieniques (SAH Group) in 1994. The company was listed in on the Bourse de Tunis in 2014. In 2019 it had a presence in 20 African countries, with nine production facilities employing over 4,000 people. It started its operations in Senegal in 2020. SAH Group recorded revenues of $239 million in 2020, recording a 12.6% increase compared to 2019.

36. Miriem Bensalah Chaqroun CEO; Director

COMPANY: Les Eaux Minerales d’Oulmes; Holmarcom Group NATIONALITY: Moroccan SECTOR: Consumer Goods

Chaqroun joined her family business, Holmarcom Group, in 1986. It was founded in 1978. She is also the CEO of Les Eaux Minerales d’Oulmes, which is listed on the Casablanca Stock Exchange and is one of the leading mineral water brands in Morocco. Chaqroun has been appointed by the UN Secretary General as a member of the Global Investors Alliance for Sustainable Development.

37. Mona Ataya CEO & Founder

COMPANY: Mumzworld

NATIONALITY: Palestinian

SECTOR: E-commerce

Ataya founded e-commerce platform Mumzworld with Leena Khalil in 2011. In 2019, Mumzworld built a 66,000 sq. ft. warehouse in Dubai Industrial Park, which is now the epicenter of the business and houses over 250,000 products.

After raising $20 million in new capital in January 2020, the company has now secured a total of $50 million in funding, making it one of the highest-funded women-led e-commerce businesses in the region. Ataya says they now plan on regional expansion across North Africa and the Levant.

38. Hind Bahwan Founder & Chairperson

COMPANY: Bahwan CyberTek Group

NATIONALITY: Omani

SECTOR: Technology

Bahwan founded BCT in 1999. She is also the Chairperson of the Omani French Friendship Association, and in 2020 she launched a fragrance brand, Ojar.

BCT is a global provider of digital transformation solutions in the areas of Predictive Analytics, Digital Experience and Digital Supply Chain Management, and has delivered solutions in 20 countries across North America, the Middle East, Far East, Africa and Asia.

39. Yasmine & Farida Mohamed Farid Khamis Chair; Deputy Chair for Financing

COMPANY: Oriental Weavers Group

NATIONALITY: Egyptian

SECTOR: Retail

Oriental Weavers Group is considered one of the largest machine-made rug and carpet manufacturers in the world. It was founded by Egyptian business mogul Mohamed Khamis. Yasmine joined the company in 1999 and became chair in October 2020 when her father passed away in September 2020. Farida is also a member of the Young President’s Organization.

The company has 803,500 square meters of warehouses across Egypt, the U.S., and China, as well as distribution and warehousing centers in Egypt, the U.S., the U.K., Germany, and Canada. It reported $645 million in revenues in 2019.

40. Areej & Lujaina Mohsin Haider Darwish Chairperson; Chairperson for Infrastructure, Technology, Industrial & Consumer Solutions (ITICS)

COMPANY: Mohsin Haider Darwish LLC

NATIONALITY: Omani

SECTOR: Diversified

Mohsin Haider Darwish LLC was established in 1987. Areej added new luxury automotive brands such as McLaren to the business. She also established her own business venture under the name of “Areej Mohsin Haider Darwish LLC” and launched two brands: “Blessing Chocolates & Gifts” and “First Impression Artwork.” Lujaina is involved in the strategic and operational aspects of the business and is responsible for the Omanization strategy of the group.

The company has partnered with Swedish-Swiss ABB for renewable energy and electric stations and has ventured into new sectors in line with the Oman 2040 vision.

41. Claudia Vergueiro Massei CEO

COMPANY: Siemens Oman

NATIONALITY: Brazilian Italian

SECTOR: Diversified

With 14 years of experience, Massei was appointed as the CEO of Siemens Oman in 2018. Massei has been selected as a member of the World Economic Forum, participating in the Global Future Council on Energy Technologies and on the Closing Future Skills Gaps Taskforce in Oman. She was also selected as a LinkedIn top voice in 2020 for her contribution on thought leadership related to technology and to diversity and inclusion.

In 2020, Siemens Oman delivered the full electrification of Liwa Plastic Industrial Complex and Duqm Power Plant, as well as implementing energy efficiency technology at Sultan Qaboos University College of Science.

42. Najla Al Shirawi CEO

COMPANY: SICO

NATIONALITY: Bahraini

SECTOR: Banking and Financial Services

Al Shirawi has been with SICO for more than 20 years and became the CEO in 2014. She is also a board member at several organizations and committees, including the Bahrain Economic Development Board, Eskan Bank, the Deposit Protection Scheme in Bahrain, Bahrain Associations of Banks, and the Bahrain Institute of Banking and Finance.

SICO recorded $21.5 million in total income in the first nine months of 2020. Al Shirawi has focused on expansion efforts, with the Saudi Capital Markets Authority giving SICO regulatory approval to offer asset management services in 2019. In 2020, SICO signed an agreement with Bank Muscat to acquire a majority stake amounting to 72.71% in Saudi-based Muscat Capital. It also launched a global markets platform.

43. Manal Jarrar General Manager

COMPANY: National Insurance Company

NATIONALITY: Jordanian

SECTOR: Insurance

Jarrar has more than 25 years of experience. The National Insurance Company is listed on Amman Stock Exchange. Jarrar’s helped the company raise its grade from B- to B in US-based credit rating agency AM Best’s financial strength rating. The company reported $15.5 million in total revenues, $19 million in gross written premiums, and $38.8 million in total assets in the first nine months of 2020.

44.Farah Foustok CEO, Middle East

COMPANY: Lazard Gulf Ltd

NATIONALITY: Lebanese

SECTOR: Investments

Foustok began working in investment in 1994 and joined Lazard Gulf Limited in 2014. She has helped to develop an inclusive workplace and launched a speed mentoring initiative, TARA. Previously, she worked at NBD Investment Bank, EFG-Hermes, Deutsche Bank in London, and Morgan Stanley. Foustok holds an MBA from Imperial College London.

45. Leila Hoteit Managing Director and Senior Partner

COMPANY: Boston Consulting Group

NATIONALITY: Lebanese

SECTOR: Investments

Hoteit leads BCG’s education and human-capital-development efforts in the Middle East. In 2020, the sector grew over 50% compared to 2019. Hoteit was also selected to be on the leadership team of BCG’s social impact practice, which grew over 60% in 2020. As the leader for U.A.E. government work within BCG, she partnered with the U.A.E. federal and local governments in Abu Dhabi and Dubai to mitigate the impact of the pandemic in the economic, healthcare and welfare aspects.

In 2020, BCG worked on over 900 social impact projects across the world, with over 30% of the group’s managing directors and partners involved in the work. Over 300 of these projects were directed to COVID19 support efforts over more than 40 countries.

46. Narjes Farookh Jamal Chief Operating Officer

COMPANY: Bahrain Bourse

NATIONALITY: Bahraini

SECTOR: Banking and Financial Services

Jamal heads the digital transformation function at the Bahrain Bourse and is a board member at Bahrain Clear.

The Bahrain Bourse’s market capitalization stands at $24 billion. Among its CSR initiatives is a six-month program for the youth, TradeQuest, which teaches middle school students skills such as investment and trading.

47. Noor Sweid Founder and General Partner

COMPANY: Global Ventures

NATIONALITY: American

SECTOR: Investments

Global Ventures has a diverse portfolio of startups including HolidayMe, Mumzworld, Kitopi, and Tabby. Before founding Global Ventures, Sweid served as the chief investment officer of the Dubai Future Foundation and was a founding partner of Leap Ventures.

Sweid was recognized as one of the World’s Top 50 Women in Tech by Forbes in 2018. Aside from venture capital, Sweid founded a chain of yoga and pilates studios in the Middle East, which she sold in 2014. She is a member of the forum of Young Global Leaders by the World Economic Forum and serves as chairwoman of the Middle East Venture Capital Association.

48. Najla Ahmed Al Midfa CEO

COMPANY: Sharjah Entrepreneurship Center (Sheraa)

NATIONALITY: Emirati SECTOR: Entrepreneurship

Al Midfa is vice-chairperson of Young Arab Leaders, a board member of Endeavor UAE, and a member of the Board of Directors of the Emirates Schools Establishment.

Sheraa has a portfolio of over 100 startups, which have raised over $70 million in investment, created over 1,300 jobs, and generated over $80 million in revenue. It also hosts the annual Sharjah Entrepreneurship Festival, a gathering of over 4,000 entrepreneurs, investors, mentors, and ecosystem supporters working to inspire the next generation of changemakers.

49. Luma Fawaz CEO

COMPANY: Oasis500

NATIONALITY: Jordanian

SECTOR: Investments

Fawaz was appointed CEO of Ammanbased pre-seed and seed fund manager and accelerator Oasis500 in 2018, after serving as Head of Investments since 2015. The company has invested $9.9 million in 169 startups that have raised over $60 million, creating more than 800 direct jobs and 4,000 indirect jobs. Some startups in its portfolio include MadfooatCom, Audiogram and Crowd Analyzer. In 2020, Oasis500 invested $1.4 million in 14 startups.

According to the company, Fawaz has increased female contributions as founding team members in the organization to 36%. In 2020, Oasis500 waived rent payments from all its startups to provide support during the pandemic.

50. Elissa Freiha Founder & CEO

COMPANY: Womena

NATIONALITY: Emirati

SECTOR: Entrepreneurship

The founder of female-focused company Womena has invested in more than 35 companies. Freiha is also an executive producer at Womentum, a documentary series and a three-month acceleration program focused on women-led tech startups from across MENA. Womentum is the result of a partnership between Standard Chartered and Womena. Freiha helped to expand the business to Egypt by setting up official headquarters in Cairo.