Saudi women have made remarkable strides in the financial and business sectors, breaking barriers that once limited their opportunities. Women like Maryam Albassam, who grew up in a Saudi Arabia where women couldn’t drive or travel independently, are now forging significant roles in a dramatically changing economy. Albassam, now a principal at Graphene Ventures, reflects on how she once had to get used to being the only woman in business meetings. Today, she scouts deals for venture capital, joining a growing number of women in Saudi finance.
This shift in gender roles has been driven by reforms that began in 2018, allowing women to drive, start businesses without male permission, and work while pregnant. The female labor participation rate nearly doubled to 37% in just four years, helping boost Saudi Arabia’s GDP by 12%, with experts predicting even more growth if this trend continues. Today, women hold about 44% of senior and middle management positions in the kingdom.
Despite these advances, challenges persist. Not all Saudi women have equal access to opportunities, particularly those outside major cities like Riyadh. Amnesty International has raised concerns about continued restrictions, including the jailing of female activists. Nevertheless, senior female leaders like Albassam, Hala Kudwah of PricewaterhouseCoopers, and Kholoud AlDosari of Northern Trust, are optimistic about the future. Kudwah emphasizes the need for more inclusivity and STEM-related jobs, while AlDosari advocates for mentorship opportunities to empower future leaders.
As Saudi women continue to rise in business and finance, many look forward to a future where Saudi talent is exported globally, with the hope of seeing a female Saudi CEO leading on the world stage. These women’s stories reflect both the progress made and the obstacles that remain in Saudi Arabia’s evolving economic landscape.
