Forbes Insights and BNP Paribas have produced the first insights into the current state of individual giving in the Middle East. More than 300 high net worth individuals were surveyed from the Middle East, Europe and Asia. The survey questioned respondents about their philanthropic methods, causes, and motivations, and the results were enlightening:
- In the Middle East, the majority of respondents (63 percent) stated that religious faith is the top motivation for giving.
- Of everyone surveyed, 77 percent said they prefer to remain anonymous and not to publicize their charitable giving. In the Middle East, this may be partially related to the religious directives to be discreet about one’s giving.
- Health-related causes ranked the highest giving priority for many of the respondents. In the Middle East, however, achieving social change was ranked the top cause by the majority (65 percent).
Personal interviews also provided insight into Middle Eastern philanthropy. Former Lebanese Prime Minister Najib Mikati confirms that achieving social change is one of his giving priorities: “I believe that empowering women is the mechanism for breaking the cycle of gender discrimination, dependency and vulnerability.” As a result of his charitable work, illiteracy rates among marginalized women in Tripoli have dropped from 35 percent in 1988 to 14 percent in 2011.
Mikati believes in publicly promoting his causes, and aims to take an entrepreneurial approach to philanthropy. “We always aim,” he says, “to share our success story with other stakeholders, which can be translated into partnership programs with international funding organizations and institutions. Such partnerships can enable us to attract more funds for our causes and allow programs and services to reach a larger number of beneficiaries in all regions of Lebanon.”
There are 30 Middle Easterners in the list of the top 100 wealthiest individuals in Europe, Asia and the Middle East. The average net worth per person is $3.2 billion. All 30 individuals are men, the average age is 62 and about half operate their own foundations. The full report is available here.
Related articles
- Muslim philanthropy, post-9/11 (Philanthropy in AAction)
- Sheikh Mohammed Al Amoudi on philanthropy (Forbes)
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