Dubai (WAM)
The Endowment and Minors Affairs Foundation in Dubai, and “National Bonds”, the company working in the field of investment and savings in the UAE and compliant with the provisions of Islamic Sharia, confirmed their support for the “Waqf Bonds” initiative, which was announced by the Mohammed bin Rashid Global Center for Endowment and Endowment Consultation, in partnership with the two sides. As the first charitable endowment of its kind in the region available to individuals and companies.
Ali Al-Mutawa, Secretary-General of the Awqaf and Minors Affairs Foundation, said: “The Endowment Sukuk” is a qualitative initiative that represents one of the modern tools that allow more individuals, institutions and companies to contribute to charitable and humanitarian work, stressing the support of the Dubai Endowment for the initiative launched in partnership that combines between The three entities are “Mohammed Bin Rashid International Center for Endowment and Endowment Consultation”, “National Bonds” and “Dubai Foundation for Endowments and Minors Affairs”. He pointed out that the Dubai Endowment’s support for the “Endowment Bonds” initiative enhances the expansion of the base of charitable and humanitarian work to include a greater number of segments of society, noting that the initiative accommodates the contributions of individuals, companies and institutions, and what this reflects of the manifestations of social solidarity and social responsibility that elevate society, and ensure Meet the needs of the first groups with care and support.
Zainab Juma Al-Tamimi, Director of the Mohammed Bin Rashid International Center for Endowment and Endowment Consultation, said: The center extends bridges of cooperation with various charitable and humanitarian institutions, with the aim of spreading the culture of endowment, developing endowments and motivating charitable activities and philanthropy.
Muhammad Al-Ali, CEO of the National Bonds Group, said: “National Bonds’ support for this qualitative charitable and humanitarian initiative comes in the context of the social responsibility that the National Company has been committed to since its establishment as one of the basic components of its performance and comprehensive activity, and confirms the pivotal important role that can be It is carried out by companies and economic institutions in general, within an effective and fruitful community partnership. Al-Ali praised the launch of the “Waqf Sukuk” initiative. Al-Ali pointed out that the expected financial returns for this type of sukuk are high and distinct, and it is expected that they will reach 3.5 percent, while enjoying full protection of the original capital, whether for a permanent endowment, or a temporary endowment, noting that the company accepts the issuance of “endowment sukuks.” » Whether in the name of individuals or institutions, where all individuals can participate in the initiative to purchase “endowment bonds” starting from 1,000 dirhams, while various participating companies and institutions can also buy “endowment bonds,” starting from 10,000 dirhams.
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