Al Dhahran: Gulf International Bank – Saudi Arabia (GIB KSA) recently announced the signing of a partnership agreement with Alnahda Society in Riyadh (Alnahda) to collaborate on the development of women’s empowerment in the Kingdom. Specifically, in support of their leadership of the Women 20 (W20), one of the official G20 Engagement Groups, focused on closing the global gender gap and women’s empowerment.

Women 20 will host its own Summit on October 2020, welcoming delegates from across all G20 countries and key international organizations. This will follow a number of expert meetings, roundtables and dialogues at which GIB will play a key role as a supporter and sponsor.

The partnership will also allow both parties to work together to promote the efforts and core focus areas of the W20: Digital inclusion, Financial inclusion, Labor inclusion and Inclusive decision-making, with Women’s Entrepreneurship as a cross cutting topic.

Abdulaziz A. Al-Helaissi, the Group CEO of GIB, stated, “GIB is delighted to announce our partnership with Alnahda and to extend our support for their critical work on women empowerment. As a Group, with the full support of the Board, GIB is deeply committed to diversity and has long advocated for and engaged in developing women’s empowerment. We look forward to furthering this commitment through our cooperation with Alnahda and our support for its numerous programmes and efforts including the unique role they have assumed in leading the W20 activities under Saudi Arabia’s leadership of the G20 Presidency this year.”

Commenting on the partnership, Women 20 Sherpa, Salma Al Rashid, said, “We look forward to working alongside GIB as we continue to advocate for gender equality and financial inclusion. Our focus includes improving access to personal financial resources, financial literacy, and greater participation of women in the workforce. COVID-19 has highlighted the risk to gains made for gender equality and we appreciate the support from GIB in ensuring that our voice resonates both in Saudi Arabia and globally.”

Alnahda Society (Alnahda) has proposed a plan to the G20 Saudi Secretariat to lead and influence the Women 20 (W20) Saudi engagement group discussions at both the national and international levels and as a result, the organization has been appointed by Royal Decree to lead the W20 activities in 2020.  W20 is an official G20 engagement group whose primary objective is to ensure that gender considerations are mainstreamed into G20 discussions and translate into the G20 Leaders' Declaration as policies and implementation commitments that foster gender equality and women’s economic empowerment.

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About Gulf International Bank – Saudi Arabia:

Gulf International Bank B.S.C. (GIB) was established in 1975 as a commercial bank providing wholesale banking services and is regulated by the Central Bank of Bahrain. GIB is owned by the governments of the Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund being the primary shareholder.

In 1999 GIB began operating in Saudi Arabia as a foreign bank, providing wholesale and investment banking services through branches in Dhahran, Riyadh, and Jeddah. In April 2019 GIB became the first foreign domiciled bank to establish a local commercial bank in the Kingdom with the conversion of the Bank’s existing branches into Gulf International Bank - Saudi Arabia (GIB Saudi Arabia). This followed the Saudi Council of Ministers approval, in May 2017, to grant the Bank a local commercial banking license and the constituent shareholder’s meeting to appoint the Board of Directors in February 2019.

GIB Saudi Arabia is owned equally by the Saudi Public Investment Fund and Gulf International Bank BSC, with a paid-up capital of SR 7.5 billion and is the first bank to be headquartered in the Eastern Province. GIB Saudi Arabia aims to be the trusted business partner recognised for innovation, regional expertise and international reach; providing tailored solutions that leverage our digital advantage across wholesale and investment banking, asset management and retail banking. Its services are delivered across the GCC and international markets through GIB B.S.C in Bahrain and the UAE and GIB UK LTD in London and New York, with the Bank’s investment banking activities delivered by Riyadh based GIB Capital.

In 2014, the Bank launched ‘meem’, the world’s first Shariah compliant digital bank, in Saudi Arabia, providing the Kingdom with innovative and comprehensive products for retail customers.

About W20

The Women 20 (W20) is an official G20 engagement group established during the Turkish presidency in 2015. It is a policy recommendation engagement group which is part of the G20 process but is independent from governments. In its functioning, it mirrors the G20 process.

Its primary objective is to ensure that the gender considerations are mainstreamed into G20 discussions and translate into the G20 Leaders' Declaration as policies and implementation commitments that foster gender equality and women’s economic empowerment.

W20 in 2020: Alnahda as the Hosting Organization:

Alnahda Society (Alnahda) has proposed a plan to the G20 Saudi Secretariat to lead and influence the Women 20 (W20) Saudi engagement group discussions at both the national and international levels and as a result, the organization has been appointed by Royal Decree to lead the W20 activities in 2020.

Founded in 1962 in the city of Riyadh, Saudi Arabia, Alnahda is a nonprofit organization dedicated to empowering women socially and economically through the execution of numerous projects and programs. Its work has evolved over the years in response to women’s changing needs and to the local socio-economic and political climate. With a vision for women to be active partners in the development of Saudi society it has established its mission to work on ensuring an environment that takes pride in women’s participation and preserves their dignity while building women’s capabilities to reach leadership positions across society.

Ms. Salma Al Rashid

Ms. Al-Rashid's experience in the social sector comes from being a long time practitioner in the field where she oversaw a number of development projects with a focus on women's empowerment. She is currently the Chief Advocacy Officer at Alnahda Society. Through her work, she participates locally in various committees to influence policy and work alongside decision-makers to ensure a holistic approach to social development. She also represents civil society internationally at UN human rights conventions where she led the organization's ECOSOC application and participation at the Committee on the Status of Women. Since 2018, she has represented the Kingdom at the Women20 as head of delegation to Argentina and Japan engaging in activities and dialogues to promote gender-inclusive social and economic growth. With a global view of gender and development issues, she ensures that the organization's work is aligned with its mission, the nation's Vision 2030 and the UN Sustainable Development Goals.

For queries including interview requests for W20 Sherpa Salma Al-Rashid, please contact Amy Selman, aselman@apcoworldwide.com 

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