Saleh Kamel and his company have investments of billions of dollars across 40 countries, after 40 years of leveraging a close relationship with the Saudi government to lucrative effect.
During the oil boom of the 1960s, Kamel put his company forward for a string of infrastructure contracts, so helping turn the government’s vision into a reality.
The successful delivery of roads, pipelines and sewerage networks led to a contract to maintain the pilgrimage sites and Holy Mosques of Mecca and Medina, and public works continued with the Dallah Avco Trans Arabia Company, which was responsible for building and maintaining Saudi’s airports.
Kamel’s smart business sense has since enabled him to expand from construction into banking, real estate, healthcare and even media – he founded both Middle East Broadcasting Centre (MBC) and Arab Radio & Television (ART) – and Dallah Albaraka has spent the last decade as one of the Kingdom’s best-performing companies.
Kamel personally owns 30 percent of
Albaraka Banking Group
, a conglomerate that he founded and that runs a vast Islamic banking operations, as well as real estate, construction and manufacturing interests. Dallah holds another stake close to 25 percent.
Kamel is also heading an alliance to launch the world’s biggest Islamic bank before the end of this year, with an IPO of $3bn.
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