FaceOf: Lubna Olayan, CEO of Olayan Financing Co.

Lubna Olayan
Updated 31 August 2018

FaceOf: Lubna Olayan, CEO of Olayan Financing Co.

  • Olayan is the only Saudi whose name has made it to the board and one of three women who will contribute their expertise to the Kingdom’s Future Investment Initiative
  • Her career began in 1983 under her father’s wing at Olayan Group

Lubna Olayan is the CEO of Olayan Financing Co. and is the first woman in Saudi Arabia to give a keynote opening at one of the largest conferences in the Kingdom.

The Public Investment Fund (PIF) in Saudi Arabia has named a top-tier team of international business experts to work on the Kingdom’s Future Investment Initiative (FII).

The event debuted in the Kingdom last year and introduced the government’s economic reform plans, focusing on hi-tech sectors, including robotics and artificial intelligence.

Olayan is the only Saudi whose name has made it to the board and one of three women who will contribute their expertise to the initiative.

Olayan was born in 1955 to a businessman and leader who founded the Olayan Group. She grew up valuing education and holds a bachelor’s degree in agriculture from Cornell University, as well as an MBA from Indiana University.

Her career began in 1983 under her father’s wing at Olayan Group, but the two maintained a businesslike relationship in the office.

Her current role is the CEO of Olayan Financing Company, the holding entity of Olayan Group’s full operations in Saudi and the Middle East, and she also sits on the group’s board with her brother and two sisters.

In 2005 Olayan became a non-executive board director at WPP, and in the next two years, she served as an international advisory member of the board for both Rolls-Royce and Citigroup. She joined the board of INSEAD directors late in 2005 and was elected as a member in the board of trustees for Cornell University in 2007.

In 2010, she was awarded the Cornell Entrepreneur of the Year award, and Forbes listed her as the 86th most powerful woman in the world in 2014.


Saudi health minister promises to procure tested vaccine

Saudi Health Minister Tawfiq Al-Rabiah. (AP)
Updated 20 October 2020

Saudi health minister promises to procure tested vaccine

  • COVID-19 cases continue to decline in Saudi Arabia

JEDDAH: Saudi Health Minister Dr. Tawfiq Al-Rabiah on Monday said the Kingdom will procure vaccine for the novel coronavirus once it is confirmed to be safe and effective.

He said research on the vaccine is underway in a number of countries and the Saudi health authorities are following the developments.
The number of coronavirus disease (COVID-19) cases continues to decline in the Kingdom with the recovery rate from the illness rising to 96 percent. The minister attributed the decline on the “commitment to health precautions.”
“I also thank my fellow health practitioners for their wonderful efforts,” Al-Rabiah said.
Commenting on the second and stronger wave of COVID-19 in some countries, he said it was due to a lack of “commitment to social distancing” and failure to wear masks and taking other precautions.
He ruled out any leniency on part of the government in its fight against the virus. The minister said it is necessary to abide by precautionary measures to keep the virus at bay.

FASTFACTS

• Saudi Arabia recorded 381 new infections on Monday.

• With 16 new fatalities, the virus-related death toll has risen to 5,201.

“We (all) are in one boat, and the failure of some affects everyone, so we must work together” to check the spread of the virus.
He also advised people who show COVID-19 symptoms to visit Tetamman (rest assured) clinics.
“Appointments can be made through the ministry’s Sehaty app, and anyone who has any questions or wants to consult a doctor can call 937,” the minister said.
Saudi Arabia recorded 381 new infections on Monday. The total number of COVID-19 cases has reached 348,583 since the beginning of the outbreak in the Kingdom.
The Health Ministry said 16 more people died due to complications caused by the virus raising the death toll to 5,201. The ministry also reported 357 new recoveries. The total number of recovered cases has now increased to 328,895.