Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted

Saudi Al-Rahji family; biggest shareholder in 'Israel'

  • By Al Mayadeen English
  • Source: Agencies
  • 1 Aug 2022 13:21
  • 3 Shares
3 Min Read

A Saudi investment trust representing the Al-Rajhi family has extended its stake in a second Israeli firm.

  • x
  • Al-Rahji Islamic Bank.
    Al-Rahji Islamic Bank in Saudi Arabia

Al-Rajhi Bank, the world's largest Islamic bank, has become the largest shareholder in the Israeli startup Otonomo Technologies Ltd.

According to a regulatory filing dated July 4, Saudi-based investment firm Mithaq Capital SPC boosted its stake in Otonomo from 5.2% to 20.41%.

Otonomo is a software firm that leverages proprietary technology and data from millions of cars to give cloud-based solutions for car manufacturers and service providers to create service apps for their customers.

Mithaq would be able to discuss and influence Otonomo's decisions on strategy, governance, and business as a result of the investment.

All drivers want a safe experience - and with the advent of connected vehicle sensors, a smarter approach is on the horizon. https://t.co/UgpJ3rlHsk#ConnectedCar #AutomotiveTechnology #RoadSafety pic.twitter.com/Q9Et85wkZS

— Otonomo (@otonomo_) July 27, 2022

The Saudi Al-Rajhi family owns Mithaq Capital, which is led by Turki Saleh Al-Rajhi and Muhammad Asif Seemab.

According to the US Securities and Exchange Commission, the fund's goal is "to function as an investment vehicle for select members of the Al-Rajhi family."

Related News

Syria, now buffer zone, places 'Israel' on Iraqi border: IOF colonel

'Israel' rejects Golan discussions in normalization talks with Syria

Al-Rajhi family also owns Al-Rajhi Bank, the world's largest Islamic financial institution, with over 600 branches globally. This makes the family the richest non-royal clan in Saudi Arabia.

“We like the innovation and the technology culture that "Israel" has, and we try to find ways to benefit from that,” said Seemab.

Read next: Israelis start investing in Saudi Arabia

Furthermore, Mithaq Capital is the largest shareholder in Tremor International, an Israeli ad-tech business that is publicly traded and focused on digital advertising.

“As part of our investment process, other than Shariah compliance, we are country-agnostic and sector-agnostic,” the fund’s director added.

While Saudi Arabia and "Israel" do not have diplomatic relations, the collaboration between the two countries has grown dramatically in the last decade, peaking in the aftermath of the normalization agreements. 

Former Israeli Prime Minister Benjamin Netanyahu credited the achievement of these agreements to Saudi Crown Prince Mohammed bin Salman, whose efforts cleared the path for normalization agreements with Bahrain, the United Arab Emirates, Sudan, and Morocco.

“If I am once again elected to lead the State of Israel, I intend to sign a comprehensive peace treaty with Saudi Arabia and other Arab nations,” Netanyahu pledged earlier this month.

Read next: Kushner's equity fund to invest Saudi billions in Israeli startups

  • Saudi Arabia
  • Al-Rahji family
  • Israel
  • Normalizing ties with Israel
  • Normalization with Israel
  • Normalization
  • Normalization agreements
  • Otonomo Technologies Ltd.

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS