Dubai: Mr. Muhammad Saeed Al Mulla, a former Minister, economist, and businessman, has died. The former was responsible for founding a number of non-oil Emirati organizations that are now cornerstones of the country’s diverse economy.
Mr. Muhammad Saeed Al Mulla was born in Al Shindagha, Dubai, in 1926, and spent his formative years there while the developing metropolis sought its bearings as a hub for commerce and pearl-hunting. When Mr. Muhammad Saeed Al Mulla travelled to Burma via Calcutta (India) in 1952 to purchase wood, coffee, and rice, he began his early career in business.
The primary source of income for Dubai was the pearl industry, which was challenged by Japanese pearl farms, which opened up the market for re-exporting gold to India to numerous Gulf merchants with maritime experience. Mr. Al Mulla was one of the merchants who started this firm and achieved enough success to be admitted to the Council of Merchants at the beginning of the entrepreneurial initiatives in Dubai.
Mr. Al Mulla founded a construction company in the middle of the 1960s in response to the discovery of oil and the beginning of infrastructure-building projects. The businessman won several bids before accepting the job of constructing the first palace for the late Sheikh Zayed bin Sultan Al Nahyan at Al Ain.
The former Minister’s establishment of the National Bank of Dubai, the first national bank in the emirate (now Emirates NBD), was among his most notable contributions to Dubai. Mr. Al Mulla was also the first chairman of the board of directors of the Dubai Chamber of Commerce and Industry, which was founded in 1965 in order to play a crucial role in enhancing the business climate. Support and defend the Emirate’s business community’s interests.
The chamber’s duty was to promote and oversee the city’s commercial activities. Over 500 firms were first registered, and in the next five years, that number increased to 3,000. Additionally, the Chamber handled commercial litigation, including the regulation of promissory notes, which hadn’t previously been controlled.
Mr. Al Mulla was also one of the founders of Emirates Post, the organization that published the first set of postage stamps in January 1961. The former Minister also noted that the first postal agency in Dubai had been established as an agency in August 1909, when the institution first opened.
Mr. Al Mulla was also one of the founders of Emirates Post, the organisation that published the first set of postage stamps in January 1961. The former Minister also noted that the first postal agency in Dubai had been established as an agency in August 1909, when the institution first opened.