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]
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 courier service with the name Dallah Establishment by Saleh Abdullah Kamal in Riyadh.[3] By 1979 was one of the largest contractors for the Saudi government. DBHC was formed as a holding company in 1984 when Dallah Establishment expanded its activities to include financial and banking services, health care, manufacturing, real estate and tourism, trading, agriculture, operations and maintenance and transportation. As DBHC continued to grow, major subsidiaries were established to manage the investments in key sectors which includes an international network of banks, in addition to investment and insurance vehicles; and general business, which range from hospital operations to cleaning and maintenance to food manufacture and restaurants.[4] Today, DBHC is one of the largest conglomerates in the region, with diversified investments totaling billions of dollars spanning 40 countries.[5]
In 1969, DHBC 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 DHBC, 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 airports and mosques, road construction, driving training schools, traffic control and business solutions, among other business lines.[citation needed]
Dallah Real Estate and Tourism Company
Dallah Real Estate and Tourism Company is a regional real-estate holding company that specializes in real estate advisory, management and development.[citation needed]
Al-Samaha Trade Holding Company
Al-Samaha Trade Holding Company specializes in trade within local and global markets. Its activities include importation of consumer goods, hoist platforms and servicing contracts to operate e-government services.
Al-Jazira Transport Company
The Al-Jazira Transport Company focuses on providing transportation services for Pilgrims and Omra visitors. Its activities also include refrigerated transport (a primary hauler for most of the dairy and juice producers in Saudi Arabia) while its fleet comprises more than 400 trucks and trailers in addition to 100 plus towing trucks and trailers for the transportation of dry and liquid materials, over 2,000 vehicles in total.[14]
Dallah Telecom Company
Dallah Telecom was established in 1990 to modernize telecommunications and information technology in Saudi Arabia and other countries in the region. Since its establishment, Dallah Telecom has implemented high-tech projects for wired and wireless telecommunications on regional and international levels. Dallah Telecom provides digital learning systems to Saudi universities and helps implement long-term education-development strategies. It also cooperates with local and international companies to develop new business opportunities and manage commercial telecommunications projects.
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:
^Simpson, Glenn R.; Wartzman, Rick (2001-11-02). "U.S. Probes Saudi Conglomerate For Links to Islamic Militants". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-03-18.
^ ab"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.
^ abcWardany, 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.
^"Saudis Cleared in 9/11 Cases". Arab News. 2005-01-20. Retrieved 2016-05-08.
^Simpson, Glenn R.; Journal, Rick Wartzman Staff Reporters of The Wall Street (2001-11-03). "U.S. Probes Saudi Conglomerate For Links to Islamic Militants". Wall Street Journal. 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.
^. Archived from the original on October 20, 2010. Retrieved October 20, 2010.
^"قناة اقرأ الفضائية". Iqraa. 24 June 2012. Retrieved 9 December 2013.
^. Archived from the original on October 20, 2010. Retrieved October 20, 2010.
^. Archived from the original on October 20, 2010. Retrieved October 20, 2010.
March 11, 2023
dallah, baraka, holding, company, dbhc, private, multinational, corporation, based, jeddah, saudi, arabia, company, holdings, throughout, middle, east, north, africa, east, europe, company, best, classed, conglomerate, with, investments, including, financial, . 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 Dallah Albaraka مجموعة دلة البركةFounded1969 54 years ago 1969 FounderSaleh Abdullah KamelHeadquartersJeddah Saudi ArabiaKey peopleAbeddallah Saleh Kamel CEOWebsitehttp www dallah com Contents 1 Overview 2 History 3 Philanthropy 4 Allegations 5 Major subsidiaries and business units 5 1 Dallah Group 5 2 Dallah Real Estate and Tourism Company 5 3 Al Samaha Trade Holding Company 5 4 Al Jazira Transport Company 5 5 Dallah Telecom Company 5 6 TeleInvest Limited 6 Other investments 7 ReferencesOverview EditDallah 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 EditThe company began in 1969 as a courier service with the name Dallah Establishment by Saleh Abdullah Kamal in Riyadh 3 By 1979 was one of the largest contractors for the Saudi government DBHC was formed as a holding company in 1984 when Dallah Establishment expanded its activities to include financial and banking services health care manufacturing real estate and tourism trading agriculture operations and maintenance and transportation As DBHC continued to grow major subsidiaries were established to manage the investments in key sectors which includes an international network of banks in addition to investment and insurance vehicles and general business which range from hospital operations to cleaning and maintenance to food manufacture and restaurants 4 Today DBHC is one of the largest conglomerates in the region with diversified investments totaling billions of dollars spanning 40 countries 5 In 1969 DHBC 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 DHBC 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 EditAs 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 EditIn 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 EditDallah Group Edit Established in 1997 Dallah Group was organized to perform contracts related to the operation and maintenance of airports and mosques road construction driving training schools traffic control and business solutions among other business lines citation needed Dallah Real Estate and Tourism Company Edit Dallah Real Estate and Tourism Company is a regional real estate holding company that specializes in real estate advisory management and development citation needed Al Samaha Trade Holding Company Edit Al Samaha Trade Holding Company specializes in trade within local and global markets Its activities include importation of consumer goods hoist platforms and servicing contracts to operate e government services Al Jazira Transport Company Edit The Al Jazira Transport Company focuses on providing transportation services for Pilgrims and Omra visitors Its activities also include refrigerated transport a primary hauler for most of the dairy and juice producers in Saudi Arabia while its fleet comprises more than 400 trucks and trailers in addition to 100 plus towing trucks and trailers for the transportation of dry and liquid materials over 2 000 vehicles in total 14 Dallah Telecom Company Edit Dallah Telecom was established in 1990 to modernize telecommunications and information technology in Saudi Arabia and other countries in the region Since its establishment Dallah Telecom has implemented high tech projects for wired and wireless telecommunications on regional and international levels Dallah Telecom provides digital learning systems to Saudi universities and helps implement long term education development strategies It also cooperates with local and international companies to develop new business opportunities and manage commercial telecommunications projects TeleInvest Limited Edit TeleInvest Ltd based on Cayman Islands focuses and invests in telecommunications companies worldwide Other investments EditDallah 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 amp Construction Publicly Listed Companies Majority Investments Dallah Health Care Company 18 Al Baraka Banking Group 19 Al Multaka Aseer Trading Tourism amp Manufacturing Company El Ismaila Poultry Minority Investments Jabal Omar Development Company Bank Al Jazira Reinvention Media Ltd References Edit Dallah albaraka website Dallah AlBarakah Retrieved 2016 04 27 Dallah Albaraka Holding Co www dallah com Retrieved 2016 05 08 Simpson Glenn R Wartzman Rick 2001 11 02 U S Probes Saudi Conglomerate For Links to Islamic Militants Wall Street Journal 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 Retrieved 2016 05 08 Dallah Albaraka Holding Co www dallah com Retrieved 2016 05 08 Saudis Cleared in 9 11 Cases Arab News 2005 01 20 Retrieved 2016 05 08 Simpson Glenn R Journal Rick Wartzman Staff Reporters of The Wall Street 2001 11 03 U S Probes Saudi Conglomerate For Links to Islamic Militants Wall Street Journal ISSN 0099 9660 Retrieved 2016 05 08 Burnett v Al Baraka Inv amp 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 Retrieved from https en wikipedia org w index php title Dallah Al Baraka amp oldid 1105344193, wikipedia, wiki, book, books, library,
