Dallah Albaraka Group - Introduction

Introduction

PO Box 430
Jeddah
21411
Saudi Arabia
Telephone: ( + 966) 2 671 0000
Fax: ( + 966) 2 669 4264
Web site: http://www.dallah.com

Private Company
Incorporated: 1969 as Dallah Works and Maintenance Company
Employees: 61,000
Sales: $12 billion (2005)
NAIC: 522298 All Other Non-Depository Credit Intermediation; 488510 Freight Transportation Arrangement; 515120 Television Broadcasting; 517910 Other Telecommunications; 531210 Offices of Real Estate Agents and Brokers; 541330 Engineering Services; 551112 Offices of Other Holding Companies; 561510 Travel Agencies; 622110 General Medical and Surgical Hospitals

The Dallah Albaraka Group is one of the leading, privately held conglomerates in Saudi Arabia. The Jeddah-based company controls some 300 companies involved in a variety of industries in more than 40 countries worldwide. Dallah Albaraka groups its operations into three primary categories: Finance, which includes the group's internationally operating network of Islamic banks, as well as investment and insurance vehicles; Business, with operations ranging from hospital operation to cleaning and maintenance to food production and restaurants; and Media, including the company's ownership of satellite broadcaster Arab Radio & Television. Other Dallah Albaraka investments include the manufacture of traffic lights and the production of pesticides, road construction materials, and metal pipes. Since 2002, the company has regrouped its international banking operations, including banks in Jordan, Algeria, Sudan, Pakistan, South Africa, Egypt, and Lebanon under a single entity, Albaraka Banking Group, which became the world's leading Islamic bank. Dallah Albaraka remains controlled by founder Sheik Saleh Abdullah Kamel. In 2005, Kamel and Dallah Albaraka were cleared of suspected support for Al Qaeda and the 9/11 terrorist attacks. Dallah Albaraka's total assets as of 2005 reportedly topped $12 billion.