Monday, 24 June 2024

Yassin Abdullah Kadi, Founder Muwafaq Foundation

Jersey

Champion's Profile

Net worth estimated $65 million in 2015, Yassin Abdullah Kadi (born 23 February 1955) is a Saudi Arabian businessman who has been described by friends and associates as a philanthropist. A multi-millionaire from Jeddah, Kadi trained as an architect in Chicago, Illinois.

UNDP SDG

Education and Famine relief

Description and impact

In May 1992, Kadi created the Muwafaq Foundation, an Islamic charity incorporated for the stated purpose of providing famine relief and education in the Islamic world, particularly Pakistan. The charity was incorporated as a trust on the island of Jersey an off-shore tax haven located near the coast of Normandy, France. Kadi personally donated about $15 to $20 million from his fortune and solicited donations from bin Mahfouz and other wealthy Saudi families. Bin Mahfouz became a principal donor but later said that he was not involved in the operation of the charity after its establishment.