Leading United Arab Emirates businessman Abdullah Ahmed al-Ghurair has donated a third of his assets to an educational foundation as part of a charity drive, he said on Tuesday.
Ghurair is the father of billionaire Abdulaziz al-Ghurair, chief executive of Dubai-based Mashreq bank , one of the emirate’s biggest lenders.
The foundation will initially aim to spend 4.2 billion dirhams ($1.1 billion) over the next 10 years on educating underprivileged UAE and Arab youths, Ghurair told a news conference.
