Muhammed Alsubaie
Muhammed Bin Ibrahim Alsubaie was born in 1915 in Unayzah, where he grew up and spent his childhood.
At the age of 102, in 2017 he passed away in Riyadh where he was buried.
In the same year his father died in 1926, Muhammed (who was then 11 years ago) and his brother Abdullah (who was 2 years ago) went with their uncle, Nasser Alsubaie, to Makkah for trading.
From a young age, Muhammed's family was eager to teach him the Quran. And the importance and necessity of education. So, since his arrival in Makkah, he completed the study of the Holy Quran and registered in the 'Al Falah School', but it was very difficult to balance between study and work, so he had to leave school.
He started working in the arduous manual professions with his uncle, he worked as a builder for 9 pennies, then worked in King Abdulaziz Palace as a supervisor of workers. After that, he began his business in the Judiya market in Makkah at the age of twenty years, where Al-Subaie got to know Suleiman bin Ghoneim, one of the merchants of Makkah, who was interested in traveling to the Eastern Province for six months to visit the family, and he was looking for an honest and loyal person at work to manage his shop until his return, where from here Muhammad Al-Subaie was able to establish the most important commercial partnership in his life with Suleiman bin Ghoneim in 1936 and lasted 28 years.
He then decided to establish a company (Muhammad and Abdullah Al-Subaie for Exchange and Trading) with his brother Abdullah in (1357 AH / 1938 AD), and Muhammad Al-Subaie took over the management of the council, and he realized with his intelligence that currency trade would flourish in that period after the annexation of the Hijaz.
Mohammed Ibrahim Al-Subaie & Sons Company (MASIC) was founded in 1433 AH / 2013 AD.
And good luck from Allah. Then with the care, diligence, and wisdom of Muhammad Ibrahim Al-Subaie - may Allah have mercy on him - he achieved major commercial successes, which were the focus of admiration in the commercial and financial community in the Kingdom and the Arabian Gulf, and the most important of these successes and achievements in the financial sector:
- Al-Subaie established Mohammed and Abdullah Ibrahim Al-Subaie Exchange Company and its branches spread around the Kingdom in Makkah, Medina, Jeddah, and Riyadh.
- Mohammed Al-Subaie has built extensive relationships with senior CEOs and board members of international banks such as Citibank, Chemical Bank, HSBC Bank, and Republic Bank of New York.
- Participated in the opening of the first Saudi executive office in New York in the Empire Estate Building, and its mission was to meet the Kingdom's needs for the oil and water sector of the necessary drilling equipment and parts.
He was also involved in the development of Islamic banking by:
- Establishment of Al-Subaie Bank.
- Banking Entered as a founder in Al Rajhi Company and retained the seat of membership of the Board of Directors until (1426 AH / 2005 AD).
- Participated in the conversion of Bank Al-Jazira to Islamic banking and was a member of the Bank's Board of Directors since (1400 AH / 1980 AD).
- Co-founder of Bank Albilad in (1425 AH / 2005 AD), which is one of the banks that emerged through the merger of several exchange companies and had the largest share in the bank and is now one of the fastest growing banks.
Here is a video about the story of Mohammed Al-Subaie:
Resources:
https://rb.gy/ba49xz https://www.youtube.com/watch?v=TFPa0OuaSn4&feature=share https://rb.gy/aexe1v
Prepared by:
Layan Adossary
Hanan Alshawi
Munirah Waleed Alsalem