DAMMAM/JUBAIL, 2 August 2005 — News of the passing away of King Fahd came as a shock to the people of the Eastern Province who called him father of the Modern Saudi Arabia. Although all offices, banks and business establishments worked normal hours after Saudi Television broke the news of King Fahd’s death, the market place wore a deserted look and business establishments confirmed that business transactions were minimum.
Banks reported that the news of King Fahd’s death marginally brought down the share prices. However fewer shares were traded. As Saudi Television broke the news of king’s sad demise, all transactions at the Jubail Industrial City branch of the National Commercial Bank came to a halt for some time as customers as well as bank employees were glued to the television to find out the details.
Businessmen as well as officials, prominent Saudis and expatriates alike expressed their grief and shock on the death of King Fahd. Many businessmen called King Fahd father of Modern Saudi Arabia and said that the country owed its growth and development to the wise policies of King Fahd and his government. They also gave him credit for openness and liberalization and said that he helped in evolving a new culture that had saw modernity go hand in hand with Islamic teachings and traditions.
Saleh Al-Humaidan, managing director of Al-Youm Group of Publications, called it a sad day and expressed his condolences to the Custodian of the Two Holy Mosques King Abdullah and hoped that his government will carry forward the mission of modernization initiated by King Fahd.
He said the achievements in education sector, industry, science and technology and global diplomacy is a result of King Fahd’s wise policies and his personal commitments.
Paying his tribute to King Fahd, Ali Abdul Aziz Kanoo of Kanoo Group of Companies called King Fahd an architect of modern Saudi Arabia, who valued modern education and understood the needs of diversification.
Abdul Aziz Al-Qahtani, chairman of Qahtani Maritime, while expressing his grief over the death of King Fahd, said the country has lost a worthy son who will always be remembered for his vision and mission.
