Religion Islam | Role Businessman Name Mohammad Safadi | |
 | ||
Education American University of Beirut | ||
Preceded by Raya Haffar Al Hassan Political party March 14 Alliance | ||
LBCI- Mohammad Safadi France
Mohammad Ahmed Safadi (born 28 March 1944) is a Lebanese businessman, philanthropist, and politician. He was Lebanon's minister of finance between 2011 and 2014.
Contents
- LBCI Mohammad Safadi France
- Early life and education
- Business career
- Political career
- Controversy
- Personal life
- References
Early life and education
Safadi was born in Tripoli, Lebanon, on 28 March 1944 to Sunni family. His family are businesspeople, running their own firm in Tripoli.
He is a graduate of the American University of Beirut where he received a bachelor's degree in business administration in February 1968.
Business career
Safadi began his career in the private sector in Lebanon in 1969. In 1975 when the civil war broke out in Lebanon, he began to invest in Saudi Arabia. Therefore, he has many business investments in Saudi Arabia.
He expanded his business across the Arab world and into Europe in Saudi Arabia. He also worked as business manager in London for Prince Turki bin Nasser, a member of House of Saud. Safadi established Safadi Group Holding in Lebanon in the 1990s.
Political career
Safadi has been a member of the Lebanese parliament since 2000 as part of the Tripoli bloc. He served as the minister of public works and transport from 19 July 2005 to July 2008. Safadi also served as acting energy and water minister in 2007 and in 2008. Next, he was appointed minister of economy and trade on 11 July 2008 to the cabinet headed by Fouad Siniora. He was reelected member of parliament in the 2009 elections and he was on the list of the March 14 alliance. Safadi was appointed minister of economy and trade to the cabinet of Saad Hariri on 9 November 2009, and his tenure lasted until June 2011.
Safadi did not support for Saad Hariri in the 2011 cabinet formation talks with Lebanese President Michel Suleiman. Instead, he voted for Najib Mikati during cabinet formation consultations in January 2011. Therefore, he broke with his March 14 allies and sided with the Hezbollah-led March 8 coalition along with Mikati. Safadi became an ally of Mikati after this event.
Safadi served as the minister of finance from 13 June 2011 to February 2014 in the cabinet led by Prime Minister Mikati. Within the cabinet, Safadi is part of the group appointed by the Prime Minister and an independent or non-affiliated minister in the Mikati's cabinet. In October 2012, As Safir reported that Safadi would not participate in the 2013 parliamentary elections in Tripoli possibly due to health concerns.
Safadi chairs the steering committee of the Middle East Regional Technical Assistance Committee (METAC) of the International Monetary Fund (IMF). He is also the head of the Lebanese-German Parliamentary Friendship Committee and a member of the Economy Commission in the parliament.
Safadi's term as finance minister ended in February 2014 when Ali Hassan Khalil was appointed to the post.
Controversy
The Guardian reported that Safadi involved in Al Yamama arms deal through an anonymous offshore company, Poseidon. The company was allegedly used to transfer money to Safadi, who was working for Prince Turki bin Nasser, Saudi royal and an air force officer at that time.
Personal life
On 5 October 2015, Safadi married Violette Khaïrallah. Previously, he was married to Mona Sidawi and had two children from her. His son, Ramzi, died in a car crash in England on 10 March 2008.