United Arab Emirates: Sheikh Khalifa, one of the world’s richest monarchs, passed away

The president of the United Arab Emiratesthe jeque Jalifa bin Zayed al Nahayan, died this Friday at the age of 74, as announced by senior officials quoted by the country’s official news agency. The causes that led to the death of the also emir of Abu Dhabi were not detailed.

Forbes magazine had bin Zayed as one of the richest monarchs in the world, but he had been in poor health for a few years. In 2014, he suffered a stroke, and since then his half-brother Mohamed Bin Zayed, the crown prince of Abu Dhabi, is the one who directs political affairs and appears in most official acts on his behalf.

Jalifa bin Zayed was born in 1948 and was named heir to the throne in 1969. Two years later, he became the deputy prime minister of the nascent state of Arab Emirates. He finally assumed full power in 2004 when he succeeded his father, Sheikh Zayed bin Sultan al Nahayad, to the throne.

United Arab Emirates experienced significant economic growth under his management, largely thanks to the oil wealth of Abu Dhabi, which concentrates 90% of the country’s reserves. The capital of the country is currently a huge financial, tourist and air transport center.

The Burj Jalifathe world’s tallest skyscraper, was named in his honor following the Emirates gave Dubai a $20 billion bailout loan to save it from the economic crisis in 2010.

Tributes in memory of the late monarch

The emirate government has announced an official 40-day period of mourning throughout the country that will begin with the suspension, for three days, of activities in public and private institutions starting this Friday.

Among the international reactions to the death of the president, the condolences of the president of the United States, Joe Bidenwho has described the president as a “true ally and friend of the United States” in the region. “We will continue to honor his memory by strengthening the long-standing relations between the governments and peoples of the United States and the Emirates,” adds the note, published by the White House.

Mohamed bin Zayed is expected to formally assume the presidency of the Emirates following the death of his half-brother.

(With information from AFP and Europa Press)

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