Mohammad Safadi

Mohammad Ahmed Safadi
Minister of Finance
In office
13 June 2011 – February 2014
Prime Minister Najib Mikati
Preceded by Raya Haffar Al Hassan
Succeeded by Ali Hassan Khalil
Minister of Economy and Trade
In office
22 July 2008 – 13 June 2011
Preceded by Sami Haddad
Succeeded by Nicholas Nahas
Personal details
Born 28 March 1944
Tripoli, Lebanon
Nationality Lebanese
Political party (formerly) March 14 alliance[1]
Alma mater American University of Beirut
Religion Islam

Mohammad Ahmed Safadi (born 28 March 1944) is a Lebanese businessman, philanthropist, and politician.[2] He was Lebanon's minister of finance between 2011 and 2014.

Early life and education

Safadi was born in Tripoli, Lebanon, on 28 March 1944 to Sunni family.[1][3] His family are businesspeople, running their own firm in Tripoli.[4]

He is a graduate of the American University of Beirut where he received a bachelor degree in business administration in February 1968.[3][5]

Business career

Safadi began his career in the private sector in Lebanon in 1969.[6] In 1975 when the civil war broke out in Lebanon, he began to invest in Saudi Arabia.[4][7] Therefore, he has many business investments in Saudi Arabia.[8]

He expanded his business across the Arab world and into Europe in Saudi Arabia.[1] He also worked as business manager in London for Prince Turki bin Nasser, a member of House of Saud.[4] Safadi established Safadi Group Holding in Lebanon in the 1990s.[9][10]

Political career

Safadi has been a member of the Lebanese parliament since 2000 as part of the Tripoli bloc.[9][11] He served as the minister of public works and transport from 19 July 2005 to July 2008.[1][11] Safadi also served as acting energy and water minister in 2007 and in 2008.[12][13] Next, he was appointed minister of economy and trade on 11 July 2008 to the cabinet headed by Fouad Siniora.[1][6] He was reelected member of parliament in the 2009 elections and he was on the list of the March 14 alliance.[14][15] Safadi was appointed minister of economy and trade to the cabinet of Saad Hariri on 9 November 2009,[16] and his tenure lasted until June 2011.[11]

Safadi did not support for Saad Hariri in the 2011 cabinet formation talks with Lebanese President Michel Suleiman.[8] Instead, he voted for Najib Mikati during cabinet formation consultations in January 2011.[17] Therefore, he broke with his March 14 allies and sided with the Hezbollah-led March 8 coalition along with Mikati.[18] Safadi became an ally of Mikati after this event.[19]

Safadi served as the minister of finance from 13 June 2011 to February 2014 in the cabinet led by Prime Minister Mikati.[7][20][21] Within the cabinet, Safadi is part of the group appointed by the Prime Minister[9] and an independent or non-affiliated minister in the Mikati's cabinet.[22] In October 2012, As Safir reported that Safadi would not participate in the 2013 parliamentary elections in Tripoli possibly due to health concerns.[23]

Safadi chairs the steering committee of the Middle East Regional Technical Assistance Committee (METAC) of the International Monetary Fund (IMF).[24] He is also the head of the Lebanese-German Parliamentary Friendship Committee and a member of the Economy Commission in the parliament.[25]

Safadi's term as finance minister ended in February 2014 when Ali Hassan Khalil was appointed to the post.[26]

Controversy

The Guardian reported that Safadi involved in Al Yamama arms deal through an anonymous offshore company, Poseidon.[27] 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.[27]

Personal life

Safadi is married to Mona Sidawi and has two children. His son, Ramzi, died in a car crash in England on 10 March 2008.[1]

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "MP Mohammad Safadi". NOW Lebanon. 2 October 2012. Retrieved 2 October 2012.
  2. ↑ "Mohammad A. Safadi". The International Economic Forum of Americas. Retrieved 2 October 2012.
  3. ↑ 3.0 3.1 "Mohammad A. Safadi". Safadi Foundation. Retrieved 2 October 2012.
  4. ↑ 4.0 4.1 4.2 David Leigh; Rob Evans (7 June 2007). "Biography. M. Safadi". The Guardian. Retrieved 28 August 2013.
  5. ↑ "Former Ministers". Ministry of Economy and Trade. Retrieved 5 October 2012.
  6. ↑ 6.0 6.1 "Meet the government". Now Lebanon. 11 July 2008. Retrieved 21 January 2013.
  7. ↑ 7.0 7.1 "Mohammad Safadi". Beirut. Retrieved 2 October 2012.
  8. ↑ 8.0 8.1 Moubayed, Sami (29 January 2011). "Hariri backed wrong horse". Asia Times Online. Retrieved 18 November 2012.
  9. ↑ 9.0 9.1 9.2 "Lebanon announces cabinet line-up". NOW Lebanon. 13 June 2011. Retrieved 5 October 2012.
  10. ↑ "Profiles: Lebanon's new government". Lebanonwire. 12 July 2008. Retrieved 4 April 2013.
  11. ↑ 11.0 11.1 11.2 "Mohammad A. Safadi". Ministry of Finance. Retrieved 2 October 2012.
  12. ↑ Habib, Osama (20 October 2007). "Lebanon to allow price of oil to float if market rises further". The Daily Star (Beirut). Retrieved 18 November 2012.
  13. ↑ "Speakers from the Government of Lebanon". The Economist. 15 June 2010. Retrieved 7 April 2013.
  14. ↑ "Lebanon: Wikileaks cables expose Hezbollah, Syria allies". Ya Libnan. 3 May 2011. Retrieved 24 October 2012.
  15. ↑ "New parliament composition" (PDF). Lebanese Information Center. Retrieved 21 January 2013.
  16. ↑ Ladki, Nadim (9 November 2009). "Lebanon's Hariri forms unity government with Hezbollah". Reuters (Beirut). Retrieved 5 October 2012.
  17. ↑ Moubayed, Sami (15 February 2011). "Why Hariri no longer matters". Asia Times Online (Damascus). Retrieved 18 December 2012.
  18. ↑ Amrieh, Antoine (29 January 2011). "PM-designate camp to counter pro-Hariri rally with 'day of joy'". The Daily Star. Retrieved 18 December 2012.
  19. ↑ Salem, Paul (15 June 2011). "Lebanon’s New Government: Outlines and Challenges". Carnegie Middle East. Retrieved 21 April 2013.
  20. ↑ El Basha, Thomas (13 June 2011). "Mikati forms 30-member Lebanon Cabinet". The Daily Star (Beirut). Retrieved 5 October 2012.
  21. ↑ "The Cabinet". Embassy of Lebanon Washington DC. Retrieved 24 October 2012.
  22. ↑ "The New Lebanese Government" (ASSESSMENT REPORT). Lebanese Information Center. July 2011. Retrieved 13 October 2012.
  23. ↑ "Safadi not to run in 2013 parliamentary elections, report says". NOW Lebanon. 4 April 2012. Retrieved 5 October 2012.
  24. ↑ "Steering Committee". Middle East Regional Technical Assistance Center. Retrieved 2 October 2012.
  25. ↑ "Equitable Growth". The Business Year. 14 February 2012. Retrieved 22 February 2013.
  26. ↑ "Lebanon announces new government after ten month political deadlock". Euronews. 15 February 2014. Retrieved 16 February 2014.
  27. ↑ 27.0 27.1 "BAE files". The Guardian. Retrieved 2 October 2012.
Political offices
Preceded by
Raya Haffar Al Hassan		 Minister of Finance
2011 – 2014 		Succeeded by
Ali Hassan Khalil