Thu 05-10-2017 16:32 PM
DUBAI, 5th October, 2017 (WAM) -- An Emirati woman has donated AED20 million to the Awqaf and Minors Affairs Foundation, AMAF, to establish its first education endowment.
The endowment has been jointly set up under the names of the donor, Dawlat Mahmood Al Mahmoud, and her late husband, Abdulghafoor Ali Gargash. Annual revenues from the endowment will finance the university education of minors and orphans under AMAF’s care.
Revenue from the education endowment will be dedicated towards offering outstanding orphans in AMAF’s care university scholarships to study at the University of Dubai, University of Sharjah, Paris-Sorbonne University Abu Dhabi, and other national and international universities operating in the UAE. The beneficiaries will be encouraged to pursue specialisations that are in demand in the labour market and support the UAE’s plans and strategies to enhance its global competitiveness in the future.
As a gesture of appreciation for the generous allocation, the Awqaf and Minors Affairs Foundation has announced that it will name the library at its Family Village to recognise Dawlat Mahmood Al Mahmoud and Abdulghafoor Ali Gargash's contributions to the education of AMAF’s minors.
Applauding Dawlat Al Mahmoud’s and her late husband's generous gesture, Tayeb Al-Rais, Secretary-General of AMAF, said, "This initiative marks an important milestone in the UAE’s journey of endowment and charity work. We hope it will inspire Emirati citizens to invest in the country’s human capital through similar education endowment initiatives, whose revenues are dedicated to supporting education, knowledge and sustainable development."
He added, "The amount of the donation will be carefully invested in financial instruments on AMAF’s behalf. Annual revenues garnered from these investments will support the higher education costs of several orphans and minors under AMAF’s care at national and global universities. We believe such efforts will significantly help in shaping the skills required in the nation’s workforce of the future."
Drawing upon the experiences of several countries across the globe with regard to education endowments, Al-Rais said, "As Muslims and Emiratis, we have a rich heritage of supporting humanitarian and charitable initiatives. We are inspired by the legacy of the founding father of the UAE, the late Sheikh Zayed bin Sultan Al Nahyan, and our wise leadership in developing the education sector in a bid to support the emerging knowledge economy."
Al-Rais concluded, "As the #Year of Giving draws to an end, and we gear up to welcome the #Year of Zayed, this generous donation is a clear message that nations can only advance with the efforts and loyalty of their people."