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.



Oman Warns of Escalation Risk, Qatar Pushes to Revive Talks

Qatar’s Emir receives written message from Iran’s President Pezeshkian. Photo: QNA
Qatar’s Emir receives written message from Iran’s President Pezeshkian. Photo: QNA
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Oman Warns of Escalation Risk, Qatar Pushes to Revive Talks

Qatar’s Emir receives written message from Iran’s President Pezeshkian. Photo: QNA
Qatar’s Emir receives written message from Iran’s President Pezeshkian. Photo: QNA

Oman warned on Wednesday against the growing military escalation between Israel and Iran and stepped up its diplomatic efforts to shield the region from the risk of a broader conflict.

Qatar, also intensifying its mediation, said it was working with regional and international partners to end the Israeli-Iranian confrontation. This came as Qatari Emir Sheikh Tamim bin Hamad Al Thani received a written message from Iran’s President Masoud Pezeshkian.

According to the Qatari state news agency, the letter focused on bilateral relations and ways to enhance them.

On Tuesday, Majed Al Ansari, spokesperson for the Qatari Ministry of Foreign Affairs and advisor to the Prime Minister, said Doha was in constant contact with friends and partners in and outside the region to help end the escalating conflict.

“Qatar is engaging all parties to narrow differences and reach a scenario that puts an end to this dangerous escalation,” he said.

Al Ansari added that Qatar was working closely with regional and international actors to revive negotiations and de-escalate tensions to prevent the region from sliding into a potentially devastating war.

He said the Qatari Prime Minister and Foreign Minister had spoken with several international officials in recent days, voicing strong condemnation of Israel’s repeated violations and attacks, which he said undermine efforts to achieve peace.

Al Ansari stressed the urgent need for collective regional and global action to reduce tensions and resolve disputes through diplomacy.

In Muscat, the Omani Ministry of Foreign Affairs said Foreign Minister Badr bin Hamad Al Busaidi held talks with his Arab counterparts and key international partners, including EU foreign policy chief and European Commission Vice-President Kaja Kallas.

According to Omani sources, the discussions focused on tackling rising regional tensions triggered by Israel’s pre-emptive strikes on Iran and Tehran’s subsequent response, part of a broader crisis that has been intensifying since early Friday.

The talks also addressed the need to align international positions, increase political and legal pressure to halt Israeli attacks, and push for comprehensive negotiations aimed at restoring stability and averting further military escalation.

Al Busaidi urged an immediate end to what he called a “tragic war threatening regional security” and called for heightened diplomatic pressure to revive a political solution.