(BEIRUT, LEBANON) — Businessman Adnan Kassar donated $10 million to endow the Adnan Kassar School of Business at the Lebanese American University today, in the presence of LAU President Dr. Joseph Jabbra, LAU senior management, and Lebanese members of parliament.
Kassar is a former minister of economy and trade, and the chairman of Fransabank Group. He was also the president of the Beirut Chamber of Commerce.
“Today is President Adnan Kassar’s day at LAU, and from now and on, every day will be Adnan Kassar’s day at LAU,” said Dr. Jabbra. “His name on the school of business will be soaring up into the sky in the heart of Ras Beirut.”
LAU said Kassar’s donation is one of the biggest philanthropic investments in the university’s history.
Kassar and his brother are major shareholders of Fransabank and owners of a multitude of businesses in trade, shipping, travel industries. He is also a partner with Walid Jumblatt in a cement manufacturing firm.
“I consider private initiative as the main source for growth and development,” said Kassar. “Perhaps this explains my deep involvement in chambers of commerce and industry, which I consider as organizers for private initiative and for bringing about socio-economic growth and development.”
Dr. Jabbra highlighted Kassar’s achivements in economy and business, calling him an “extraordinary human being.”
“Alongside being a great defender of the private sector, he is an active participant in the advancement of society in Lebanon and in the entire region,” Jabbra said, adding that he has donated hundreds of thousands of dollars to Lebanese orphanages, hospitals, and major development projects in Beirut.