Billionaire Saudi Banking Tycoon Saleh Abdullah Kamel Passes Away

Billionaire Saudi businessman Saleh Abdullah Kamel.
Billionaire Saudi businessman Saleh Abdullah Kamel.
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Billionaire Saudi Banking Tycoon Saleh Abdullah Kamel Passes Away

Billionaire Saudi businessman Saleh Abdullah Kamel.
Billionaire Saudi businessman Saleh Abdullah Kamel.

Billionaire Saudi businessman Saleh Abdullah Kamel, who founded the banking and real estate conglomerate Dallah Albaraka Group, has died, according to relatives quoted in the Kingdom’s media. He was 79.

People close to Kamel told The Associated Press he died at the Dr. Samir Abbas Hospital in the city of Jeddah, where he was taken after suffering a heart attack early on Tuesday.

Kamel’s business empire grew from its humble beginnings in the late 1960′s — at the same time that the Kingdom was using its oil wealth to rapidly develop and in need of homegrown companies to build roads, highways and cities.

Over the years, the business expanded to tens of thousands of employees and today includes subsidiaries and stakes in a range of businesses, such as the operation and maintenance of airports and roads, tourism, trade, trucking and transportation, telecommunications, media, agriculture, poultry and health care.

Kamel’s son and the CEO of Dallah Albaraka Group, Abdullah Kamel, was quoted in the state-linked Okaz newspaper that he oversees as saying that funeral prayers will be held Tuesday afternoon in Makkah’s Grand Mosque, which has been closed to visitors amid the coronavirus pandemic.

Saudi-owned Al-Arabiya TV network said Kamel, who was born in Makkah but based in Jeddah, was instrumental in helping build many of the Kingdom’s ports and major projects. He served on numerous boards and was the chairman of the General Council for Islamic Banks and the Jeddah Chamber of Commerce. He once owned a significant stake in Saudi broadcaster MBC, which owns and operates Al-Arabiya.

Al-Arabiya dubbed him “the father of contemporary Islamic finance”.

Across Muslim countries and at home, Kamel was heavily involved in philanthropy and charity.

A multi-million-dollar donation in 2010 established the Abdallah S. Kamel Center for the Study of Islamic Law and Civilization at Yale Law School in the US.



Syrian President Begins Gulf Tour Following Easing of International Sanctions

A handout photo made available by the UAE's Presidential Court shows President of the United Arab Emirates and Ruler of Emirate of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan (R) and Syrian President Ahmed Al Sharaa (L) shake hands during their meeting in Abu Dhabi, United Arab Emirates, 07 July 2025. EPA/THE UAE PRESIDENTIAL COURT /HANDOUT
A handout photo made available by the UAE's Presidential Court shows President of the United Arab Emirates and Ruler of Emirate of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan (R) and Syrian President Ahmed Al Sharaa (L) shake hands during their meeting in Abu Dhabi, United Arab Emirates, 07 July 2025. EPA/THE UAE PRESIDENTIAL COURT /HANDOUT
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Syrian President Begins Gulf Tour Following Easing of International Sanctions

A handout photo made available by the UAE's Presidential Court shows President of the United Arab Emirates and Ruler of Emirate of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan (R) and Syrian President Ahmed Al Sharaa (L) shake hands during their meeting in Abu Dhabi, United Arab Emirates, 07 July 2025. EPA/THE UAE PRESIDENTIAL COURT /HANDOUT
A handout photo made available by the UAE's Presidential Court shows President of the United Arab Emirates and Ruler of Emirate of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan (R) and Syrian President Ahmed Al Sharaa (L) shake hands during their meeting in Abu Dhabi, United Arab Emirates, 07 July 2025. EPA/THE UAE PRESIDENTIAL COURT /HANDOUT

Syrian President Ahmad al-Sharaa has begun a tour of the Gulf Cooperation Council (GCC) countries, marking his second visit to the region and his first since most international sanctions on Syria were lifted.

The trip, which began in the United Arab Emirates, underscores Damascus’s push to reintegrate economically and diplomatically into the Arab world after more than a decade of isolation.

According to Syria’s state news agency SANA, the tour aims to bolster economic cooperation and attract Gulf investments to support Syria’s national reconstruction and development plans.

Al-Sharaa arrived in Abu Dhabi on Monday, where he was received by UAE President Sheikh Mohamed bin Zayed Al Nahyan. The two leaders held official talks focusing on post-war recovery, economic partnership, and infrastructure development.

Speaking during the meeting, al-Sharaa said Syria has “turned the page on war and division” and is now focused on building “strategic partnerships” with its Gulf neighbors. He praised the UAE’s role in supporting regional stability and expressed interest in learning from the Emirati model in sustainable development, digital transformation, and clean energy.

For his part, Sheikh Mohamed reaffirmed the UAE’s full support for Syria’s efforts to restore stability and rebuild its war-torn economy. He stressed the importance of strengthening bilateral ties, especially in key sectors such as infrastructure, investment, and technology.