Salim_Ahmed_bin_Mahfouz

Salim Ahmed bin Mahfouz

Salim Ahmed bin Mahfouz

Saudi Arabian businessman

Salim bin Ahmed bin Al Shaiba bin Mahfouz is a Saudi businessman of Hadharem origin, and the founder of the National Commercial Bank.

Quick Facts Born, Died ...

The journey of wealth

Bin Mahfouz first worked as a governor in Mecca,[1] recognizing his abilities and having confidence in him, the Al-Kaki family opted to partner with him in their money-changing business. He then became a correspondent for them. This improved version combines the clarity of the first sentence with the conciseness of the second, while maintaining the original flow of information.

Salim bin Mahfouz, according to his own account, proposed the idea of a Saudi bank during a newspaper meeting. The Minister of Finance at that time, Ibn Suleiman, was impressed and arranged a meeting for bin Mahfouz with King Abdulaziz Al Saud. The King liked the idea, and soon after, Al-Salam, the first Saudi bank – the Saudi National Commercial Bank – was established. It went on to become the largest banking institution in the Middle East.[2]

Death

He died in 1994.[3][4]

Salim Bin Mahfouz Foundation

His children started the Salim Bin Mahfouz Foundation for Civil and Development Work in 2012.[5][6]

References

  1. [1]
    "سالم بن محفوظ يتذكر". sibawayhbooks.com (in Arabic). Archived from the original on 7 September 2020. Retrieved 2020-09-07.
  2. [2]
    "عائلة بن محفوظ التجارية .. وتأسيس أول مصرف سعودي" (in Arabic). 2018-05-25. Archived from the original on 2019-12-07.
  3. [3]
    Annual Report NCB 1994 Archived 2016-04-06 at the Wayback Machine
  4. [4]
    "Bin Mahfouz Information". www.binmahfouz.info. Archived from the original on 24 September 2020. Retrieved 2022-02-15.
  5. [5]
    "عائلة بن محفوظ التجارية .. من بيع الفول إلى تأسيس أول مصرف سعودي والانضمام إلى قائمة الأثرياء العرب". مجلة الرجل (in Arabic). 2019-08-18. Archived from the original on 2019-12-07. Retrieved 2020-09-07.
  6. [6]
    "من نحن | مؤسسة سالم بن محفوظ الأهلية". www.sbmf.org.sa. Archived from the original on 23 February 2020. Retrieved 2020-09-07.
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