From seafarer to economist: Saeed Lootah, 97, winds up his earthly journey

coastaldigest.com news network
June 29, 2020

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Dubai, Jun 29: Saeed bin Ahmed Al Lootah, a pioneering Emirati businessman and the founder of the world's first Islamic bank, is no more. He breathed his last on June 28.

Born in 1923, Saeed was instrumental in setting up the Dubai Islamic Bank (DIB) in 1975 to provide the community with a Sharia-compliant alternative to conventional banking.

He established several companies, organisations and societies, including the Dubai Consumer Cooperative. He also established the Islamic Education School in 1983 and the Dubai Medical College for Girls in 1986.

In 1992, Haj Saeed established the first College of Pharmacology in Dubai. Later he launched the Dubai Centre for Environmental Research, the Dubai Specialised Medical Centre, and the Medical Research Labs for health control and research into medicinal herbs and Islamic (Nabawi) medicine. He also set up an orphanage.

Saeed bin Ahmed Al Lootah was a self-made businessman who progressed from being a seafarer and trader to an accomplished tutor, author, economist, banker, entrepreneur, businessman and visionary community leader.

According to details available on the S.S. Lootah Group website, his "fervent adherence to the core values of education, cooperation and economy" helped empower "people to excel at everything they do".

"He realised the need to build permanent houses and ventured into construction. His 'capital' at that time were his skills, knowledge and hard work," the website said.

He laid the foundation of S.S.Lootah Contracting Company as a joint venture with his brother Sultan in 1956. "With the enduring values of education, cooperation and economy set as the foundations of his work, Haj Saeed started a number of businesses as well as not-for-profit education and research ventures, with an aim to serve the people of the UAE.

"Thanks to his vision and leadership, our home grown ventures continue to demonstrate unique values that extend well beyond its functional benefits - creating greater economic, social and environmental benefits for people in UAE and beyond."

Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, took to Twitter on Sunday to offer his respects.

Sheikh Mohammed said: "He was a trader who started with nothing. His touch is visible in several aspects of the Dubai economy."

Calling the deceased a "wise and smart man", Sheikh Mohammed said: "May Allah bless his soul and grant his family the strength to endure and persevere."

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, also paid his respects. "He combined economic leadership with charitable work. He launched charitable educational institutions and sponsored many orphans. His memory will live on. May Allah have mercy on him and grant his family patience."

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News Network
April 14,2024

New Delhi, Apr 14: In response to the escalating tensions between Israel and Iran, ministry of external affairs (MEA) on Sunday issued a statement expressing serious concern over the potential threat to regional peace and security.

"We are seriously concerned at the escalation of hostilities between Israel and Iran which threatens the peace and security in the region," the MEA said in the statement.

The ministry called for an immediate de-escalation of the situation, emphasizing the importance of exercising restraint and refraining from further violence. 

Stressing the need for diplomacy to prevail, India urged both parties to step back from confrontation and seek peaceful resolutions to their differences.

"We call for immediate de-escalation, exercise of restraint, stepping back from violence and return to the path of diplomacy," the MEA said. 

India, closely monitoring the evolving situation, assured that its embassies in the region are actively engaging with the Indian community, providing support and assistance as needed.

"We are closely monitoring the evolving situation. Our Embassies in the region are in close touch with the Indian community," the MEA affirmed.

Highlighting the significance of maintaining security and stability in the region, India reiterated the importance of all parties involved prioritizing peaceful dialogue and cooperative measures. "It is vital that security and stability are maintained in the region," the MEA said.

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April 15,2024

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The Iranian Army Chief Commander Major General Abdolrahim Mousavi says the country will not hesitate to give a “stormy and unified” response to any act of aggression against it.

In a Monday message marking the National Army Day, Mousavi said great defensive measures of the country’s Army and Armed Forces have resulted in strong deterrent power.

Iran has conveyed its message of power to the world in a way that the world has realized that the Iranian Armed Forces will give a “stormy and unified” response to any aggression against the country’s national interests, borders and security, he added.

The top commander noted that Iran’s firm response to an act of aggression by the usurping Israeli enemy against its diplomatic premises in the Syrian capital of Damascus brought joy to oppressed nations, especially the resilient people of Palestine and Gaza.

Mousavi emphasized that the retaliatory strikes, dubbed Operation True Promise, revealed only a part of the capacity and strong will of the Iranian Armed Forces and were carried out in cooperation among the Islamic Revolution Guards Corps (IRGC) Aerospace Division, the Army, and the Defense Ministry.

He said the Army has played a key role in strengthening the country’s defense power, independence and lasting security by implementing various measures.

It has constructed strategic drone and underground tactical bases and made hundreds of modern defense achievements in the land, air, sea and space sectors in addition to advancing in the fields of science and technology, he explained.

Now the enemies lack the courage to carry out any act of aggression against the Islamic establishment and the noble Iranian nation, the top commander said.

He added that Iran has staged several joint military drills to enhance national security and dignity.

The Israeli airstrikes on Iran’s embassy compound in Damascus killed two generals of Iran’s Islamic Revolution Guards Corps (IRGC), Brigadier General Mohammad Reza Zahedi and General Mohammad Hadi Haji Rahimi, as well as five of their accompanying officers.

In response, on Saturday night, the IRGC targeted the Israeli-occupied territories with a barrage of drones and missiles. The extent of the damage on Israeli military bases across the occupied territories is yet to be specified.

Following the reprisal, Iran warned Israel against taking any retaliatory actions and also urged the US to try not to involve itself in the conflict and signaled that it viewed the matter as “concluded.”

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News Network
April 14,2024

Qatar and Kuwait have banned any use of their airspace and air bases for attacks against Iran amid heightened tensions between Iran and the Israeli regime following an Israeli attack early this month on an Iranian diplomatic mission in Syria.

Reports on Saturday indicated that both Qatar and Kuwait had issued directives to the United States stressing that the US military will not be allowed to use air bases in the two countries for carrying out any potential airstrikes on Iran.

Qatar and Kuwait have also indicated that their airspace will not be available for any military action against Iran.

The US has military aircraft at the Ali Al Salem Air Base and Ahmed Al Jaber Air Base in Kuwait. The Al Udeid Air Base in Qatar is also the largest US air base in the West Asia region.

The directives issued by Iran’s two Arab neighbors come amid reports showing that Iran is preparing to respond to an Israeli airstrike that killed two of its senior military commanders in its consulate in the Syrian capital Damascus on April 1.

Washington has urged Iran to deescalate while saying that it will defend Israel in case it is attacked.

Iran, which has no direct relations with the US, has called on regional Arab countries to advise the US not to interfere if Israel is attacked.

Countries have been wary of a major confrontation in the region more than six months into an Israeli onslaught on the Gaza Strip.

Reports show they have already limited the ability of the US to use their airspace and air bases for attacks on resistance groups that are allied with Iran and have been attacking Israeli and US interests in the region since the start of the Israeli aggression on Gaza.

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