Saleh Kamel’s Dallah Albaraka has been playing a key role in sponsoring the Jeddah Economic Forum since its inception in 2000. In the following interview, Kamel narrates his impressions of the forum.
Q. How often has Dallah Albaraka sponsored JEF?
A. We have been playing a key role in supporting JEF since its inception in 2000. We have always had keen interest to participate in this world-class event and sponsor its activities. Probably, the most remembered event was the Fifth JEF when Sheikh Saleh at his residence hosted all distinguished guests. Among them were the former US president, Bill Clinton, the late Lebanese Prime Minister, Rafiq Hariri, the Turkish Prime Minister, Recep Tayyib Erdogan and the former president of Mexico, Ernesto Zedillo.
Q. Why? What do you see as its value both to Dallah Albaraka and to the Kingdom?
A. Organization of such event is likely to enhance the unique position of the Kingdom, and Jeddah City in particular and would encourage global investors to come and explore investment opportunities in vital areas such as industry, tourism real estate etc. Thus, the event would promote Jeddah and its achievements to the world. For Dallah Albaraka, sponsorship of such event would offer the possibility of achieving several goals. It gives us the opportunity to be among a network of companies that work together and create useful partnerships. It demonstrates the Group’s vision in contributing to the successful events that take place in our community and shape the development of our nation.
Q. Does Dallah Albaraka sponsors similar events elsewhere in the Kingdom and abroad?
A. Dallah Albaraka has a long record of accomplishments in sponsoring significant events inside and outside the Kingdom in various fields including, but not limited to the following: The “2nd Training Course on Orthopedics” at Dallah Hospital, Riyadh 2001, “The National Media Campaign of Traffic and Security” organized by the Ministry of Interior in 2000, the “Environment Week” in Jazan in 2003, under patronage of Prince Mohammed Bin Nasir, the “Fifth Islamic Economic Conference” in Bahrain in 2003 under patronage of the Prime Minister of Bahrain, the “1st Islamic Tourism Forum” under the patronage of HRH Prince Naif Ibn Abdulaziz, Minister of Interior and Chairman of the Supreme Tourism Board in 2007 and “Information Technology & National Security Conference” in 2007 - just to mention a few.
Q. How do you think the JEF should develop?
A. We think that the JEF is likely to develop by presenting new ideas and key issues of both local and global interest, and by encouraging the participation of international figures from various backgrounds. This event, the forum should focus more on the impact of international economic recession on the internal market and local economy.
Q. The theme this year is “Value Creation through Alliance & Partnerships.” How have partnerships and alliances helped Dallah Albaraka, and with whom?
A. Forming strategic partnerships and alliances is extremely important for any growing company. Most companies in the region lack the necessary expertise or even financial resources to face challenges and remain in the marketplace. Small players are no longer able to compete with the bigger companies and match the marketing competitiveness. Forming partnerships is a key part of our strategy. We have recently signed a memorandum of understanding with The Saudi Investment Bank (SAIB) according to which, SAIB will buy 50% of Albaraka Banking Group from Dallah. In return, Dallah will take shares in SAIB. This transaction is likely to provide both parties with a competitive advantage in the rapidly growing banking sector.
