A dream come true for Lootah

Trade took him to India and Iraq at the age of 13 when pearling was the main source of income. But it was years later that a dream came true - the birth of the Dubai Islamic Bank, an idea which sprouted during a conversation with the late Ruler of Dubai Sheikh Rashid bin Saeed Al Maktoum.

Lootah talks about the concept of Islamic banking and how he learnt details from scholars and pearl traders who never dealt in riba (interest).

He recalls the trials he faced while setting up the Dubai Islamic Bank and reminisces on the sense of triumph when the idea saw fruition in 1975.

He fondly remembers Sheikh Rashid, who was always a pillar of strength. He attended his majlises every day and accompanied him on some of his trips abroad.

Lootah says his family was in pearling. Some members were divers, while others worked on board ships of the East India Company. But when the pearl business hit a low, Lootah acted quickly and diversified into the construction sector.

He had more than just one goal. He also set up the Islamic School in 1963 and established Lootah Town which had the blessings of Sheikh Rashid.

His forefathers lived in Dubai for 200 years and later moved to Ajman, driven by the demands of a livelihood. But his father returned to Dubai in the 1940s when the family entered the construction business.

Lootah recalls how the family, which belonged to the Al Bu Humeir tribe and moved from Abu Dhabi to Dubai, got the name Lootah.

His first profession started when his father presented him with an old rifle. He learnt how to dismantle it and then put it together. Soon, he was fixing everything around the house. And, this, stressed Lootah was the first step in hiscareer.

The handyman in the house would later transform into one of the leading businessmen in the UAE. A businessman with a conscience and a mission. This profile rounds off the current series carried during Ramadan. Profile of Success will resume soon.