Oman industrialist Sheikh Suhail Bahwan passes away

SHEIKH Suhail Salim Bahwan, Chairman of the Suhail Bahwan Group and one of Oman’s most influential industrialists, has passed away.

The Oman Chamber of Commerce and Industry (OCCI) expressed its condolences on the death of the esteemed business leader.

In a statement, OCCI extended its sincere sympathies to his family and loved ones, praying that God grant him mercy and provide his relatives with patience and solace.

Bahwan began as a small-scale trader in Sur, with one dhow, inherited from his father, doing business between Oman and India.

In 1965, he moved to the capital, Muscat, and opened a shop in the Muttrah Souq with his brother Saud, named Suhail & Saud Bahwan. Initially, they traded in construction equipment and fishing nets.

In 1968, he obtained the local licence for Seiko, and then one for Toyota.

The Suhail Bahwan Group is now the largest privately owned business in Oman, with diverse business interests including fertilizers, healthcare, construction and automobiles.

In 2002, he split with his brother, and as a result, the Suhail Bahwan was divided into two groups.

In 2016, Bahwan passed much of the responsibility for running the Suhail Bahwan Group to Amal Bahwan, his second-eldest daughter. In 2021, he was the only Omani on Forbes' annual World's Billionaires ranking.

During April 2022, the French prosecutor's office in Nanterre issued an international arrest warrant for Bahwan, along with former Renault CEO, Carlos Ghosn following an investigation into whether they helped divert funds from carmaker Renault to its former chair and chief executive for personal use.

 In 2022, his fortune supposedly dropped by $600 million.