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In a clear indication of how rapidly the Middle East is adopting to plastic money, the region’s retail sector saw cash payments declining to 20 per cent la..

Saudi grocery company breaks with family firm secrecy to open up in IPO After details emerged of undisclosed loans Ahmad BinDawood revealed everything 12 April 2021 - 08:00 Matthew Martin and Devon Pendleton Picture: 123RF/SERGEY BUZUEVSKIY For Ahmad BinDawood, last year’s share offering in the eponymous Saudi grocery business was a chance to shape his legacy at the family firm he’s worked at since the age of eight, while cementing a $3.1bn fortune built over the decades by his father and uncles. As the October public offering of BinDawood Holding got under way, d...

For Ahmad BinDawood, last year’s share offering in the eponymous Saudi grocery business was a chance to shape his legacy at the family firm he’s worked at since the age of eight, while cementing a $3.1 billion fortune built over the decades by his father and uncles. As the October public offering of BinDawood Holding Co. got underway, details emerged of some $76 million in previously undisclosed loans made by the Saudi company to family members. In a departure from the traditional secrecy associated with the kingdom’s family firms, Jeddah-based BinDawood revealed everything, put the IPO...

Billionaire Saudi Family Breaks Mold on Kingdom’s Secrecy Bloomberg 2 days ago (Bloomberg) -- For Ahmad BinDawood, last year’s share offering in the eponymous Saudi grocery business was a chance to shape his legacy at the family firm he’s worked at since the age of eight, while cementing a $3.1 billion fortune built over the decades by his father and uncles. As the October public offering of BinDawood Holding Co. got underway, details emerged of some $76 million in previously undisclosed loans made by the Saudi company to family members. In a departure from the traditional secrecy as...