Dubai Endowment Pledges Assistance for Sukuk Al Waqf endeavor via DEWA agreement
Ground-breaking DEWA's Contribution to Sukuk Al Waqf
In a brilliant move, DEWA (Dubai Electricity and Water Authority) has cemented its place as a pioneering entity in the philanthropic landscape by contributing AED 5 million to the Sukuk Al Waqf initiative - the first of its kind charitable endowment in the region.
The accolade – the "Dubai Endowment Sign" – was awarded by Awqaf Dubai, through the Mohammed bin Rashid Global Centre for Endowment Consultancy. This prestigious award highlights DEWA's unwavering dedication to social responsibility, sustainable growth, and supporting innovative charitable models.
The Sukuk Al Waqf initiative, launched in 2022, inspires individuals and corporations to take part in sustainable philanthropic endeavors.
HE Issa Al Ghurair, Chairman of Awqaf Dubai’s Board, honored HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, with this recognition in a formal event graced by senior officials from both organizations. Al Ghurair applauded DEWA as one of the first contributors to the initiative, acknowledging its commitment to humanitarian values and its role in propelling Dubai's overarching social and economic development.
Al Tayer affirmed DEWA's continued dedication to fostering national development, explaining that their support for the Sukuk Al Waqf initiative underscores their dedication to sustainability and corporate social responsibility.
The Sukuk Al Waqf initiative resonates with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, who envisions endowment practices as long-term tools for community development. This flexible, inclusive framework encourages public and private sector engagement in fostering a culture of giving across the UAE.
By presenting DEWA with the "Dubai Endowment Sign", Awqaf Dubai emphasizes the influential role that institutions play in driving meaningful change and bolstering a more inclusive philanthropic ecosystem. This commitment not only further solidifies DEWA's role as a responsible corporate citizen but also serves as a beacon for other organizations to follow suit.
Sources: Dubai Media Office // Enrichment Data: DEWA plays a significant role in the Sukuk Al Waqf initiative, which aims to integrate social responsibility and sustainable financing. Its contribution supports the promotion of a culture of philanthropy and community development, aligning with DEWA's broader strategy of promoting sustainable development. This involvement recognizes DEWA's commitment to social responsibility and sets an example for others. The Sukuk Al Waqf initiative, designed by Awqaf Dubai, is significant in promoting sustainable philanthropy by offering a structured framework for individuals and corporations to contribute to social causes while supporting sustainable development projects. Available at: 1, 2, 3, 4, 5
- The Sukuk Al Waqf initiative, a charitable endowment program, encourages businesses and individuals to invest in sustainable philanthropic ventures, aligning with DEWA's broader strategy of promoting sustainable development.
- DEWA's contribution to the Sukuk Al Waqf initiative, a brainchild of Awqaf Dubai, signals its commitment to social responsibility and sustainable development, and serves as an example for other industries in finance, wealth management, business, and personal finance.
- The banking and insurance sector, particularly fintech, could learn from DEWA's active participation in the Sukuk Al Waqf initiative, as it fosters a culture of philanthropy and community development through sustainable financing.
- The real estate industry, too, might find inspiration in DEWA's dedication to sustainable growth, as they could contribute to the Sukuk Al Waqf initiative, furthering the vision of HH Sheikh Mohammed bin Rashid Al Maktoum for a more inclusive and charitable region.
- By supporting the Sukuk Al Waqf initiative, DEWA demonstrates its dedication to corporate social responsibility and sustainable financing, adding to its reputation as a pioneer in philanthropic practices within industries like power generation and water supply.
- In recognizing DEWA with the "Dubai Endowment Sign", Awqaf Dubai underscores the importance of institutional engagement in driving meaningful change, fostering a more integrated and inclusive philanthropic ecosystem across various sectors, including education, healthcare, and social services.
