Aga Khan V succeeds father as head of Ismailis - International
The 53-year-old was sworn in as the movement's 50th imam at a ceremony in Lisbon, where his father, Prince Karim Al-Hussaini, or Aga Khan IV, died last Tuesday at the age of 88.
The Aga Khan is regarded as a direct descendent of the Prophet Mohammed and heads a community of some 12 million to 15 million followers around the world, concentrated in central and south Asia, Africa and the Middle East.
The Aga Khan IV became head of the movement in 1957 and invested part of the immense family fortune in developing countries, combining philanthropy with business acumen to build hospitals, housing and banking cooperatives.
He moved the headquarters of the Ismailis to Portugal following a June 2015 agreement with the Portuguese government involving tax breaks and diplomatic privileges, in exchange for investments in the fields of science and development.
The pact provided the Aga Khan with a Portuguese passport in addition to his British nationality and honorary Canadian citizenship.
The Aga Khan IV mixed with world leaders and high society, and was a noted racehorse breeder and owner.
His remembrance ceremony in Lisbon Saturday was attended by more than 300 guests, including Canadian Prime Minister Justin Trudeau, Portuguese President Marcelo Rebelo de Sousa and former Spanish king Juan Carlos I.
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