Sayidaty magazine and Al-Ahli Bank announced the launch of a pivotal project that contributes to Saudi women entering the work force, especially within the fields of business and finance.
The “Ahalina and Sayidaty Award”, is the first award in Arab journalism to be launched in partnership with a bank and a magazine. It was designed to support female entrepreneurs who have unique ideas for projects that benefit the national economy and are awarded the necessary funding to launch them.
Launched on Monday 26th March 2018, the initiative is part of a program that encourages young Saudi women in entrepreneurship and opens up opportunities for them to achieve their business goals within the current economic movement taking place in Saudi Arabia. The Ahalina and Sayidaty collaboration aims to empower women in line with the kingdom’s 2030 Vision, initiated by Crown Prince Mohammad bin Salman bin Abdulaziz.
The First Vice President and Head of Social Responsibility directorate of Al Ahli Bank, Ms. Basma bint Abdulaziz Al-Johary and Editor in Chief of Sayidaty and Al-Rajul Magazines, Mohammad Fahad Al-Harithi signed the agreement at the headquarters of Al-Ahli Bank in Jeddah on Tuesday.
The agreement was signed with the presence of Faisal Omar Al-Saqqaf, senior executive vice president and Head of Strategy and Business Development Group at the Bank.
Ahalina and Sayidaty Award
The award offers young female entrepreneurs, who are seeking the opportunity to implement their projects, the chance of a lifetime to realize their dreams by funding their projects. The initiative has been approved as a result of in-depth studies by Al-Ahli Bank and team at Sayidaty to reach a practical goal that contributes to the acceleration of the scheme for Saudi women in the labor market.
Mohammad Fahad Al-Harithi, editor in chief of Sayidaty, stated that this project is the first of its kind in Arab journalism. The training and qualification program contributes not only to achieving the aspirations of young ambitious women in the business sector and female economy, but is also a pioneering model instilling the culture of entrepreneurship amongst women in the kingdom; it symbolizes the role of journalism which has a practical contribution to development through forging partnerships with strong economic establishments, such as Al-Ahli Bank to support the empowerment of Saudi women and motivate them to become leaders of the development plan.
Al-Harthi announced that “Ahalina and Sayidaty Award” will finance a number of small, medium and large projects for women entrepreneurs. More than SR300,000 has been allocated to fund the award, in addition to projects that will develop potential and offer support through training sessions and consultations from experts along with offering logistic and media support.
“This initiative combines the strategic objectives of Al-Ahli Bank and those of Sayidaty, which are summed up in taking more interest in business entrepreneurship and empowering women to start their special projects”, commented Basma on the initiative.
When asked about Sayidaty’s role in economic projects that concern women, Al-Harthi commented, “As a magazine and a website, Sayidaty’s role in caring for women isn’t done in isolation of the community, indeed it has moved from the companion to the motivator and supporters; today it is an actual contributor to women’s development through its social media platforms and through the funding and training award in partnership with Al-Ahli Bank”.
The project’s team announced that Ahalina and Sayidaty’s Award for Saudi women entrepreneurs will be launched during the first week of April. The award will be published across the magazine’s websites, publications and social media platforms.
Studies have shown that 15% of the total labor force are Saudi women, and that 20% of mutual Saudi investment funds are owned by women.
The Ahalina program was established in 2004 by Al-Ahli Bank’s administration; the initiative has an autonomous management that is related to serving the community; it designs and implements a number of community service programs, especially since it is the first Saudi national bank.
The program has the support of various sectors of the community and provides educational and training opportunities for beneficiaries and supports them to build a safer and brighter future.
