Fri 29 May 2020:
Syrian tycoon Rami Makhlouf said yesterday that he had donated his shares in banks and insurance companies to Ramak Development and Humanitarian Projects; a charity dedicated to members of the Alawite sect who died defending the Syrian regime of President Bashar Al-Assad.
Earlier this month, the Syrian regime ordered Makhlouf’s assets be seized and imposed a travel ban on him, claiming his telecommunications company Syriatel has outstanding taxes.
Makhlouf, who is Al-Assad’s cousin, responded by transferring ownership of all the assets to Ramak Development which he chairs.
The organisation is reported to be a parent company of business and non-profit organisations that are linked to an array of regime frontmen.
Makhlouf said the donation has given him a great feeling of satisfaction because, according to the endowments’ law, “any sale or profit made from these shares will return to good deeds entirely”.
Think your friends would be interested? Share this story!