Muhammad al-Imadi

Mohammad Imady
Mohammed Imady
Born	31 August 1930 Damascus, Syria
Nationality	Syrian
Occupation	Economist

Mohammed Imady ( Dr. Muhammad al-Imadi – الدكتور محمد العمادي) was born in Damascus on August 31, 1930 to Jawdat al-Imadi and Yissra al-Hawasli. Imady is Syrian technocrat who tried to introduce economic reforms at a time when Syria's economy when strongly dominated by the socialist ideology of the B'aath party. He served as Deputy Minister of Planning (1968-1972), Minister of State for Planning Affairs (March 1972 - December 1972), Minister of Economy and Foreign Trade (December 1972 - January 1980), Member of Parliament (1977-1981), President of the Arab Fund for Economic and Social Development (September 1979 - May 1985), Minister of Economy and Foreign Trade (May 1985 - December 2001), Chair of the Board of Trustees of the International Arab University (2004–present), Chair of the Board of Trustees of the Dar al-Na'im Orphanage (2005–present), and Chairman of the Board of Commissioners of the Syrian Commission on Financial Markets and Securities (February 8, 2006 - February 8, 2014).

Family & Education

Mohammed Imady was born in Damascus on August 31, 1930 to Jawdat al-Imadi (1882-1958) and Yissra al-Hawasli (1898-1969). The Imadi family can be traced back to Bukhara, and earlier to Hijaz where it claims lineage to Abu Bakr al-Sidiq, the first successor of the Prophet. The first documented evidence of its presence in Damascus starts with the 16th century when Abd al-Rahman al-Imadi (1570-1641) was designated by the Ottoman Sultan as the Grand Mufti of Damascus. Subsequently, six additional descendants of Abd al-Rahman were also designated grand muftis. But by the time Mohammed Imady was born in the early twentieth century, the family's earlier glory had been largely forgotten, and the wealth, previously accumulated through land grants, largely dissipated. Imady studied law at the University of Damascus. In 1955, he was sent on a government scholarship to New York University (NYU) to pursue his higher education in economics. At NYU, he met and married (August 1956) Mildred Elaine Rippey (April 16, 1934) from Palisades NY. Imady received his Phd in 1960 with an honorary distinction and returned with his wife and daughter, Susan Sahar Imady (July 5, 1957), to Damascus.

Early career

Upon his return to Damascus, Imady joined the Ministry of Planning. By 1968, he had been appointed Deputy Minister of Planning. In the late 1960s, he was asked to teach a course on the Economics of War to several generals, including Hafiz al-Asad. By 1970 he was the Deputy Minister of Planning, but had secured a position in the UN as chief consultant in Libya. His planned departure however coincided with al-Asad's rise to power in November 1970.

The 1970s

Having made a favorable impression on Asad during the course on the Economics of War, Imady was asked to stay in Syria, and shortly after was appointed the Minister of State for planning Affairs (March 22, 1972), and after a cabinet shift during the same year (December 23, 1972); he was appointed the Minister of Economy and Foreign Trade. The irony of course was that Hafiz al-Asad had chosen a non Bathist technocrat from a sunni Damascene aristocratic family who had not only studied in the US, but was also married to an American, to be his chief economic officer. In 1976, it was Syria’s turn to head the Board of Governors of the International Monetary Fund and the Boards of Governors of the World Bank Group Annual Meetings and Imady, in his capacity as Minister of Economy, chaired this meeting. Imady remained in this position until September 1979, when he was unanimously chosen by the Board of Governors of the Arab Fund for Economic and Social Development as the President of this institution. Shortly after being confirmed for another 5-year term, Imady was asked to return to Syria after having been chosen again as Minister of Economy and Foreign Trade (April 8, 1985).

Back in Damascus

After his return to Damascus, Imady remained the Minister of Economy from April 1985 until December 2001, a total of sixteen years and eight months during which he was clearly the architect of Syria's economic liberalization. In addition to the introduction in 1991 of Investment Law No. 10, Imady is also credited with the stabilization of the value of the Syrian currency. In the first cabinet change after Bashar al-Asad became president (December 13, 2011) Imady was finally replaced by Dr. Ghassan al-Rifa'i.

Professional Activities beyond 2001

After 2001, Imady worked on three different levels, the establishment of Dar Al-Naím, an orphanage for Syrian children, the establishment of the Arab International University, (Imady has served as its Chair of Board of Trustees since 2004), and the Syrian stock market, (Imady served as Chairman of the Board of Commissioners from February 8, 2006 until February 8. 2014).

Publications

Imady is the author of several works including, Syria's Experience in Trade Liberalization & Policies of Economic Reform: on the Occasion of the 41st Anniversary of the Damascus International Fair, Damascus, (1994), Humūm al-tanmiyah: ḥawādith lan ansāhā (The Trials of Development – Events I won’t forget) 2002, Sūrīyah wa-masīrat al-takāmul al-iqtiṣādī al-ʻArabī (Syria & the movement towards Economic Arab Integration) 2003, Taṭawwur al-fikr al-tanmawī fī Sūrīyah (The Evolution of Syrian Intellectual Approaches to Development) 2004.

Personal

Mohammed Imady is known to be a technocrat who never joined the Ba'ath party or any other political organization. He is also known to be committed to his faith (regularly attending Friday prayers), yet liberal in his views. He has three children: Susan Sahar Imady (July 8, 1957), Muna Imady (February 18, 1962), and Omar Imady (July 8, 1966). Imady presently lives in Damascus.