Lubna S. Olayan honored by ABANA

Ms. Olayan is a director of The Olayan Group and CEO of the Olayan Financing Company, which is responsible for all of the group's investments and operating businesses in Saudi Arabia and the Middle East. She has also distinguished herself as a leader in World Economic Forum and World Bank initiatives on education and current issues facing the Arab World.

In her acceptance speech, Ms. Olayan focused on fundamental changes she sees as key to future development in the Arab World: "the improvement of our educational systems, the creation of job opportunities for our young men and women, a sense of a common purpose and a common destiny, and the development of a stronger sense of engagement and social responsibility." She also pointed out the great disparity between rich in poor throughout the world and detailed means by which the private sector can help to close this gap. "No Arab," she added, "whether based in Riyadh or Manama or Amman or Gaza or here in New York, can afford not to care, not to question why we are in this predicament and not to ask what must be done to improve our situation. We in the private sector can no longer sit back and expect our governments to take care of us. We must assume responsibility."

Reuben Mark, Chairman and CEO of Colgate-Palmolive, and Dr. Safwan M. Masri, ABANA Board Member and Vice Dean of the Columbia Business School, introduced Ms. Olayan. Mr. Mark called Ms. Olayan "a strong advocate of women's advancement in Saudi Arabia and around the world," and "a caring executive and highly compassionate human being." Dr. Masri emphasized her commitments beyond her role as a corporate leader, calling her a "civic leader, thinker, pioneer and champion of social change."

Over 300 members of the international financial community attended the dinner in honor of Ms. Olayan. Among the guests were previous ABANA award recipients Dr. Richard Debs (Morgan Stanley); Dr. Khaled Al-Fayez (CEO, Gulf International Bank); Ibrahim Dabdoub (CEO, National Bank of Kuwait); and A. Robert Abboud (President, ARACO). A number of leaders from Saudi Arabia's financial sector attended, including Sheikh Abdullah Al-Hugail (Chairman, The Saudi British Bank); Khaled Olayan (Chairman, The Olayan Group); Abdullatif Al-Jabr (Chairman, Arab National Bank); Nemeh Sabbagh (CEO, Arab National Bank); Talal Al-Qudaibi (President & CEO, Riyad Bank); and Abdulaziz O'Hali (Chairman, The Saudi Investment Bank). Among other distinguished guests were Naser Nabulsi, (CEO, Dubai International Financial Centre); Eid Al-Rasheedi (President & CEO, Kuwait Investment Office); Dr. Umayya Toukan (Governor, Central Bank of Jordan); Former New Jersey Senator Robert Torricelli; and Former Congresswoman Mary Rose Oakar (President, American-Arab Anti-Discrimination Committee).

Ms. Olayan's sister Hutham Olayan is a founder of ABANA and her father, Suliman, was an early recipient of its Lifetime Achievement Award. Other past recipients of ABANA Achievement Awards include Abdul Majeed Shoman, Prince Alwaleed Bin Talal Bin AbdulAziz Alsaud, William Rhodes, and Nemir Kirdar.