Rooted in Islamic philanthropic traditions, endowments – known as waqf in Arabic – are ongoing charitable funds that play a significant role in driving sustainable development by helping resolve pressing social concerns and creating long-term economic growth. More than being mere financial instruments, they are pillars to build an equitable society by supporting underprivileged communities and contributing to nation-building.
There are endowments specialised in education, healthcare, and poverty alleviation as well as in providing community housing, and in contributing to the national economy through investments in projects and developments that yield long-term returns.
Globally, endowments are gaining faster traction and are increasingly regarded as a sustainable funding model that can enhance the impact of social initiatives. With a focus on impact investing, endowments serve as pathways where financial returns are channelled for social or environmental benefits and commercial benefits.
Institutions recognise the value of such sustainable financial pathways so do people, who trust endowments to deliver on their philanthropic outlook and goals. But while people individually can make a limited difference, investing in endowments helps multiply their impact, propelling future initiatives.
The Arab world has seen a revival of interest and activity in endowments, which are contributing incremental value to the economy. Awqaf Abu Dhabi, for example, is the apex entity in the UAE capital, mandated with developing, managing and driving endowments as well as minors’ funds – delivering a dual impact: One, economic value creation and two, tangible improvements to the lives of the economically less performing sections.
In the past, traditional endowments have played a key role in supporting essential services through philanthropic financing. Today, innovative models of endowments are taking centrestage and further catalysing social progress.
They harness the power of technology, and prioritise financial sustainability. This is exemplified in the focus on Awqaf Abu Dhabi to embrace the pillars of the circular economy. They are also building strategic partnerships to bring measurable social impact.
Compared to one-time donations or short-term grants, endowments create a sustainable and stable source of support, which enable people and organisations to be a part of long-term projects for social development.
Many endowment funds are also incorporating environmental, social, and governance (ESG) criteria into their investment strategies, aligning with national Net Zero goals.
In the UAE, recent initiatives, such as the Dh1 billion healthcare endowment fund launched by Awqaf Abu Dhabi and the Department of Health in Abu Dhabi, have a higher noble purpose. They lend sustainable support in providing essential healthcare services and ensuring that high quality medical care is available for all. Such funds have a long-term role in promoting the well-being of the community as well as building a stronger healthcare infrastructure.
The success of endowments is underpinned by the transparency of its operations – one that the UAE focuses on. The government’s vision to ensure accountability and structured endowment management is exemplified in the establishment of Awqaf Abu Dhabi, which has frameworks to promote endowments and ensure sustainable wealth creation that benefits the entire community.
From funding clean energy research to preserving cultural heritage, endowments also bring flexibility to address relevant priorities. The UAE's model of integrating endowments into its national development strategy, indeed, serves as a model – which includes a supportive legal environment, accelerating public-private partnerships, and aligning endowment objectives with national priorities such as clean energy.
Endowments play a significant role in promoting social and economic progress. As a reliable source of funding for initiatives, ranging from education and healthcare to environmental sustainability, they also focus on delivering national priorities – such as job creation for youth and supporting the growth of ancillary industries in the small and medium enterprises sector – directly or indirectly.
Endowments are accelerating innovation in various sectors of the economy by serving as a trusted partner that supports growth initiatives. The growth and evolution of endowments, which have a significant societal role to play, can be further amplified through the support of philanthropists, who can channel their strategic charitable contributions to the endowment managers for long-term economic value generation.
Supported by clear guidelines, and a focus on capacity building – especially among youth – endowments are also accelerating public private sector collaborations and engaging civil society to create a sustainable ecosystem that delivers positive change for all sections of the community.
By providing essential financing for the benefit of under-served communities and partnering with civil society and grassroots organisations that are focused on positive change, endowments are contributing to a more equitable society. And every member of the community can be part of this and be positive changemakers.
UAE currency: the story behind the money in your pockets
TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
The Facility’s Versatility
Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Profile of VoucherSkout
Date of launch: November 2016
Founder: David Tobias
Based: Jumeirah Lake Towers
Sector: Technology
Size: 18 employees
Stage: Embarking on a Series A round to raise $5 million in the first quarter of 2019 with a 20 per cent stake
Investors: Seed round was self-funded with “millions of dollars”
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Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
Killing of Qassem Suleimani
The biog
Age: 30
Position: Senior lab superintendent at Emirates Global Aluminium
Education: Bachelor of science in chemical engineering, post graduate degree in light metal reduction technology
Favourite part of job: The challenge, because it is challenging
Favourite quote: “Be the change you wish to see in the world,” Gandi
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
The five pillars of Islam
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
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