Dallah Al-Baraka
Founded | 1969 |
---|---|
Founder | Saleh Abdullah Kamel |
Headquarters | Jeddah, Saudi Arabia |
Key people | Abeddallah Saleh Kamel, CEO |
Website | http://www.dallah.com |
Dallah Al-Baraka Holding Company (DBHC), is a private multinational corporation based in Jeddah, Saudi Arabia. The company has holdings throughout the Middle East, North Africa, the Far East and Europe. The company is best classed as a conglomerate with investments including the financial, banking, healthcare, real estate, manufacturing, transportation, and operations and maintenance sectors.[1]
Overview
Dallah Albaraka Holding Company (DBHC) is a multinational private corporation based in Jeddah, Saudi Arabia. DBHC has a broad-based investment portfolio with holdings throughout the Middle East, North Africa, Far East and Europe. It invests across many industries including financial and banking services, health care, manufacturing, real estate, transportation and operations and maintenance.[2]
History
The company began in 1969 as a
In 1969, DBHC expanded its investments to create Dallah Works and Maintenance Company in Riyadh. That company, benefiting from contracts with the Saudi government, including the cleaning and maintenance of the Mecca and Medina holy sites, provided the financial launch for increasingly diverse investments. In the mid-1970s, Dallah expanded its investments to include Dallah Avco Trans Arabia Company, which specialized in airport construction, operation, and maintenance. Dallah Avco Arabia attained a large number of airport and related operations in Saudi, such as the 1988 contract to maintain and run the Saudi’s air traffic control system.[4]
In 2012 DBHC, the Islamic Development Bank, and the Qatari government signed a memorandum of understanding to establish an Islamic Bank with $1 billion in capital.[6] The huge Islamic Bank shall provide “liquidity-management solutions in an effort to create an Islamic inter-bank market,” said Ahmad Mohamed Ali Al-Madani, chairman of Jeddah-based IDB.[6] The Doha-based bank had a subscribed capital of $500 million and finances infrastructure projects.[6]
Philanthropy
As part of an effort to build inter-religious harmony and bridge the West and the Islamic worldIn 2015, DHBC CEO Kamel donated $10 million to Yale Law School to establish “Abdallah S. Kamel Center for the Study of Islamic Law and Civilization ” in what has become the country’s top center for the study of Islamic law.[7] The center hosts distinguished scholars in the field of Islamic law and civilization who will spend a semester at the Law School to teach courses in their area of expertise. Visiting professors will also offer public lectures and engage with students and faculty at the Law School and Yale University.[8] DBHC is active in publicizing its social engagement activities, to include support for the Islamic economic centers at King Abdulaziz University, King Saud University, Azhar University, Al-Faisal University and Yale University.[9][10]
Allegations
In 2005 both Kamel and Al Baraka were cleared of allegations that sections of the holding company were involved in illicit financing .[11] Despite controversy surrounding his philanthropic work, Kamel was never charged with knowingly abetting any extremist groups and has consistently stated that his company and philanthropic work remain committed to fostering dialogue and inter-religious understanding.[12] The ruling by Judge Casey of the United States District Court, Southern District New York "dismissed in their entirety" all claims against Al Baraka and Mr. Kamel.[13]
Major subsidiaries and business units
Dallah Group
Established in 1997, Dallah Group was organized to perform contracts related to the operation and maintenance of
Dallah Real Estate and Tourism Company
Dallah Real Estate and Tourism Company is a regional
Al-Samaha Trade Holding Company
Al-Samaha Trade Holding Company specializes in trade within local and global markets. Its activities include
Al-Jazira Transport Company
The Al-Jazira Transport Company focuses on providing transportation services for
Dallah Telecom Company
Dallah Telecom was established in 1990 to modernize
TeleInvest Limited
TeleInvest Ltd, based on Cayman Islands, focuses and invests in telecommunications companies worldwide.
Other investments
Dallah Albaraka Holding Company holds direct and indirect investments in many private and publicly traded/listed companies including:
- Private Equity:
- Al-Manakha Urban Project Development Holding Co.
- Durrat Al-Riyadh Co.[15]
- Dallah Eastbridge Investment Co.
- Dallah Media Production Company [16]
- Dallah for Technology and Alternative Energy
- Ejada
- Food Manufacturing Company (ULKER) [17]
- Makkah Printing and Information Company
- Maad International Co.
- Okaz
- Umm Alqura for Development & Construction
- Publicly Listed Companies:
- Majority Investments
- Dallah Health Care Company [18]
- Al Baraka Banking Group[19]
- Al-Multaka
- Aseer Trading, Tourism & Manufacturing Company
- El-Ismaila Poultry
- Minority Investments
- Jabal Omar Development Company
- Bank Al Jazira
- Reinvention Media, Ltd.
- Majority Investments
References
- ^ "Dallah albaraka website". Dallah AlBarakah. Retrieved 2016-04-27.
- ^ "Dallah Albaraka Holding Co". www.dallah.com. Archived from the original on 2016-05-22. Retrieved 2016-05-08.
- ISSN 0099-9660. Retrieved 2016-03-18.
- ^ a b "History of Dallah Albaraka Group – FundingUniverse". www.fundinguniverse.com. Retrieved 2016-03-18.
- ^ "Saudi Arabia's Biggest Companies - Arabian Business at ArabCin.net". www.arabcin.net. Retrieved 2016-05-08.
- ^ a b c Wardany, Salma El (2013-04-03). "IDB, Qatar and Dallah Albaraka to Set Up $1 Billion Islamic Bank". Bloomberg.com. Retrieved 2016-03-18.
- ^ "Abdallah S. Kamel, Saudi Businessman, Donates $10M for Islamic Law Center at Yale". NBC News. Retrieved 2016-04-27.
- ^ "Abdallah S. Kamel Center for the Study of Islamic Law and Civilization - Yale Law School". www.law.yale.edu. Retrieved 2016-05-08.
- ^ "Dallah Albaraka Holding Co". www.dallah.com. Archived from the original on 2016-04-17. Retrieved 2016-05-08.
- ^ "Dallah Albaraka Holding Co". www.dallah.com. Archived from the original on 2016-04-17. Retrieved 2016-05-08.
- ^ "Saudis Cleared in 9/11 Cases". Arab News. 2005-01-20. Retrieved 2016-05-08.
- ISSN 0099-9660. Retrieved 2016-05-08.
- ^ "Burnett v. Al Baraka Inv. & Dev. Corp". uniset.ca. Retrieved 2016-06-07.
- ^ "Al Jazirah geared up to serve Haj pilgrims". Arab News. 29 November 2008.
- ^ "Dallah Albaraka". Archived from the original on October 20, 2010. Retrieved October 20, 2010.
- ^ "قناة اقرأ الفضائية". Iqraa. 24 June 2012. Retrieved 9 December 2013.
- ^ "Dallah Albaraka". Archived from the original on October 20, 2010. Retrieved October 20, 2010.
- ^ [1] Archived December 23, 2010, at the Wayback Machine
- ^ "Dallah Albaraka". Archived from the original on October 20, 2010. Retrieved October 20, 2010.