Lubna Al Olayan appointed as first woman Saudi bank head Published duration 5 October 2018

image copyright Center for International Communication image caption Ms Al Olayan is seen as a trailblazer for Saudi women in the finance industry

A woman has been appointed to run a Saudi Arabian bank in a first for women in the country.

Saudi businesswoman Lubna Al Olayan will chair a new bank being formed out of a merger between the Saudi British Bank (SABB) and Alawwal Bank.

The move comes amid a liberalisation of women's roles in a traditionally conservative society.

Currently the head of a family conglomerate, Ms Olayan is seen as a trailblazer for Saudi women in the finance industry.

The US-educated financier topped the list of Forbes Middle East's Most Influential Women 2018.

The merger between the SABB and Alawwal Bank creates the country's third biggest bank, with a capitalisation of £13.2bn ($17.2bn). British multinational bank HSBC will own part of the new entity.