Saleh Abdullah Kamel

Overview

As of April 2016, Forbes estimated his net worth at US$2.1 billion. Saleh Kamel was the founder and chairman of Dallah Albaraka, a multi-national holding company with investments including the financial, banking, healthcare, real estate, manufacturing, transportation, and operations and maintenance sectors.

Career

He was Chairman of the Jeddah Chamber of Commerce and Industry as well as the Islamic Chamber of Commerce. Kamel has been called "the father of contemporary Islamic finance", receiving Malaysia's Royal Award for Islamic Finance in November 2010. He was involved in efforts to significantly expand trade among member states of the Organization of Islamic Cooperation countries. Kamel was heavily involved in the promotion of Jeddah as a leading international port and hub for global commerce. In his capacity as chairman of DBHC and the JCC, he led numerous projects to promote the Kingdom of Saudi Arabia as a regional economic force . Kamel has stated that his vision is to combine the efforts of his DBHC and the Chamber of commerce with ongoing mega-infrastructure projects such as King Abdullah Port, the Economic City, the new railways, and the King Abdullah International Airport to catalyze domestic business across the Kingdom.

In his capacity as one of Saudi Arabia's leading businessmen, Kamel continues to actively promote philanthropy. In an interview with Arab News in 2012, Kamel estimated the total value of Islamic zakat in the Kingdom at SR 1 trillion. "Such a huge amount could be used to solve many economic and social problems in the country." He said that people should pay zakat for real estate properties that have been offered for sale. "We Muslims should understand the economic wisdom behind the system if we collect and use zakat properly for it can bring about substantial improvement in our economic conditions. If we had collected zakat from real estate property we would not have faced housing or land problems." He recalled discussing this matter with German Chancellor Angela Merkel. "I can tell you," he said that Islamic economics offers solutions for world problems." Referring to global economic crises he said they would not have occurred if we had implemented an Islamic Hadith by the holy Prophet which says, "Do not sell what you do not own or possess." In 2010, his son, CEO of DHBC, donated $10 million to Yale University to establish the Abdallah S. Kamel Center for the Study of Islamic Law and Civilization at Yale Law School

In addition to being chairman and member of many boards within his companies and sister companies, Kamel was a member of the boards of trustees and directors in many social, charitable and cultural societies and foundations such as the Arab Thought Foundation, King Abdul Aziz and His Companions Foundation for Gifted, the international academy for info & Media Sciences, Arab Academy for Financial & Banking and the Islamic Solidarity fund, Sheikh Saleh Kamel was also the president of the Islamic Chamber of Commerce & Industry, the General Council for Islamic Banks and Financial Institutions, Jeddah Chamber of Commerce & Industry, Council of Saudi Chambers and Federation of GCC Chambers.

Awards & recognition

Kamel has been honored by many medals, titles and prizes including:

Resorts

Kamel was the owner of Durrat Al-Arus, a resort in Saudi Arabia.

Coded TV channels

He owned the ART TV network, the only sports channels that broadcast the FIFA world cup in the Middle East. In 2009 these sports channels have been bought by the Al Jazeera Group.

Civil services

Kamel moderates many plans of the City Hall, such as garbage collecting and plans for traffic police, such as driving licenses tests, water desalination plant work and roads building. His companies were also contracted to maintain the region's pilgrimage sites and Holy Mosques of Mecca and Medina.

Allegations

Dallah al Baraka Group, property of al Baraka Banking and Investment Group chaired by Kamel, was named in a lawsuit put forward by families of victims of the 9/11 attacks. The plaintiffs alleged that subsidiaries of the group were involved in illicit finance that aided extremists. Ultimately, all claims were subsequently dismissed in entirety by the U.S. District Court of Southern New York in 2005. Despite controversy surrounding his philanthropic work, the District Court ruled that Kamel has never knowingly abetted any extremist entities. Kamel has consistently stated that his company and philanthropic work remain committed to fostering dialogue and inter-religious understanding.

Personal life

He was married, with two children, and lived in Jeddah, Saudi Arabia.

Death