The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai /Â WAM
Dubai Crown Prince, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has directed government entities in Dubai to adopt the “Dubai Endowment Brand†which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, to allow public and private organisations to participate in community service through innovative endowments.
On this occasion, Sheikh Hamdan said that the initiative, launched earlier by His Highness Sheikh Mohammed, will contribute to highlighting corporate social responsibility by reviving the endowment concept as a tool for economic development.
Sheikh Hamdan added that private sector bodies are partners in the process of development of society and that the government sector should encourage private organisations to participate in community service through innovative endowments.
Earlier, the Ruler of Dubai announced that the value of assets allocated by individuals and institutions in the Mohammed bin Rashid Global Centre for Awqaf and Endowment reached AED6.3 billion a month after launching. The annual return generated from these assets during the month reached AED503 million, which will help support education, health, society campaigns, innovation, future research, medical research, youth projects and many other fields.