Who Is M.A. Yusuff Ali? The Billionaire Chairman Who Made Headlines By Settling A Kerala Woman's ₹8 Lakh Loan

A woman in Kerala faced eviction after she was unable to repay a loan of ₹8 lakh. She had initially borrowed ₹4 lakh from Manappuram Finance, a non-banking financial company in Kerala, in 2019 to construct her home. However, in 2021, her husband abandoned her and their two children, disrupting the loan repayment process. Over time, interest accumulated, causing the outstanding balance to double. This led the NBFC to initiate foreclosure proceedings after several ignored warnings.

Officials from the private institution changed the locks on her home, leaving the family of three homeless. The incident incited outrage among local residents and attracted media attention. Upon learning about her plight, M.A. Yusuff Ali, the Chairman of LuLu Group, not only paid off her loan but also provided her with an additional ₹10 lakh to help her start a fixed deposit.

But do you know who M.A. Yusuff Ali is?

1. M.A. Yusuff Ali was born in Kerala on November 15, 1955. He moved to Abu Dhabi in 1973 to join his paternal uncle's small distribution business, which he transformed into a billion-dollar empire.

2. He completed his schooling at St. Xavier's High School in Karanchira and later earned a diploma in Business Management and Administration.

3. Yusuff Ali serves as the Chairman and Managing Director of LuLu Group, which operates the global LuLu Hypermarket chain and LuLu International Shopping Mall. The group has four malls in India, with the first located in Kochi, followed by Bengaluru, Thiruvananthapuram, and Lucknow.

4. According to Forbes, Yusuff Ali, often referred to as the "Middle East retail king," has a net worth of $7.4 billion.

5. In 2018, Forbes Middle East ranked Yusuff Ali as the No. 1 Indian business owner in the Arab world on its list of the Top 100.

6. He has also served as the Second Vice-Chairman of the Abu Dhabi Chamber of Commerce and Industry.

7. Yusuff Ali is married to Shabira Yusuff Ali, and they have three daughters. Their eldest daughter, Shabeena, is married to billionaire businessman Shamsheer Vayalil. Their second daughter, Shafeena, is married to Adeeb Ahamed, who heads LuLu International Exchange and Twenty14 Holdings. Their youngest daughter, Shifa, is married to Sharoon Shamsudheen, who manages successful IT businesses.