Saeed bin Ahmed Al Lootah
Saeed bin Ahmed Al Lootah Image Credit: Twitter

Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai mourned the loss of Saeed Bin Ahmed Al Lootah who died on Sunday. He was born in Dubai in 1923.

A pioneering Emirati businessman, Saeed Al Lootah laid the foundation of S.S.Lootah Contracting Company as a joint venture with his brother Sultan in 1956.

Sheikh Mohammed offered condolences to the Lootah family on his death and expressed his profound sorrow and solace to the family, praying to Allah Almighty to rest his soul in paradise.

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“Today, Hajj Saeed Ahmed Lootah passed away. He established the first Islamic bank in the world. He was a self-made businessman who has had his imprints on Dubai’s economy- best known for his philanthropic work and as a father of many orphans.

I knew him as a rational and wise man. May Allah the Almighty rest your soul in peace and accept his deeds, and grant his family patience and solace,” Sheikh Mohammed wrote on his twitter account.

He also established a number of companies, organizations and societies, including the Dubai Consumer Cooperative, and the Dubai Islamic Bank.