The UAE marked Zayed Humanitarian Day yesterday, a day after President Sheikh Mohamed described the country’s spirit of philanthropy as a “defining pillar” of its national identity. Zayed Humanitarian Day, observed every year on Ramadan 19, the anniversary of Sheikh Zayed’s death according to the Islamic Hijri calendar, is an important moment during which the people of the UAE, citizens and residents alike, reflect on the Founding Father’s legacy of giving. It has also become an occasion for rallying around humanitarian and charitable initiatives.
This Zayed Humanitarian Day, the Mohamed bin Zayed Foundation for Humanity was launched. The new philanthropic organisation will work with governments and other international partners to invest in healthcare and development initiatives in poorer countries. It will operate under the umbrella of Erth Zayed Philanthropies, which was established by the President last year.
“The Mohamed bin Zayed Foundation for Humanity reflects the UAE’s determination to build a more equitable world through catalysing innovation, seeking out new solutions, and building partnerships that can uplift and enable communities worldwide,” said Sheikh Theyab bin Mohamed, Chairman of the Office of Development and Martyrs Families Affairs at the Presidential Court, Chairman of the International Humanitarian and Philanthropic Council and Chairman of the Board of Trustees of Erth Zayed Philanthropies.
For decades, the global centre of gravity in philanthropy – formal, structured financial donation to a registered charity – has been in the West. It is led by America, where a high concentration of private wealth and strong tax incentives for donations result in more citizens giving money to registered charities than anywhere else on the planet. Charity in much of Asia and Africa, especially in Muslim communities, has traditionally been personal and informal. But as greater wealth accumulates in these regions, they are experiencing a strategic philanthropic boom.
Charity in much of Asia and Africa has traditionally been personal and informal
That ought not to be a surprise. While America and the rest of the West lead the pack in formal donations, when one adopts a more nuanced view of charity, the picture of global generosity changes completely. The World Giving Index, a widely cited report published by the UK-based Charities Aid Foundation, includes in its definition of generosity informal donations, helping strangers and volunteering time. Indonesia has led the index seven years in a row, while the US ranked sixth last year. Three of the top 10 countries are in Africa. The UAE – ranked ninth – has been among the top 15 for the past decade.
The Islamic world, in particular, has always been home to deeply rooted traditions of giving – something we are reminded of now during the month of Ramadan. As the charity sector in this region grows more sophisticated, the world can expect formal philanthropy to become a more influential part of the picture. In many cases, the state has a vital role to play in fostering progress. As Sheikh Mohamed said on Tuesday, philanthropy in the Emirates is both an “honour” and a “national responsibility”.
There are ample benefits to individuals, organisations and governments from this region taking on a bigger role in the philanthropic landscape. While the Middle East is home to some engines of wealth and islands of stability like the Emirates, it is also home to millions of people who are regular beneficiaries of charitable and international aid. Philanthropists from this part of the world will know best how to serve it, and they are well-placed to apply its lessons in other areas plagued by similar issues.
The developing world, moreover, is steadily getting richer, but threats like public health crises, armed conflict and climate change are not receding. Consequently, there is plenty of work for the charitably minded to do.
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
RESULT
Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')
Info
What: 11th edition of the Mubadala World Tennis Championship
When: December 27-29, 2018
Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams
Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823
EA Sports FC 25
Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
Rating: 3.5/5
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
COMPANY%20PROFILE
%3Cp%3EFounder%3A%20Hani%20Abu%20Ghazaleh%3Cbr%3EBased%3A%20Abu%20Dhabi%2C%20with%20an%20office%20in%20Montreal%3Cbr%3EFounded%3A%202018%3Cbr%3ESector%3A%20Virtual%20Reality%3Cbr%3EInvestment%20raised%3A%20%241.2%20million%2C%20and%20nearing%20close%20of%20%245%20million%20new%20funding%20round%3Cbr%3ENumber%20of%20employees%3A%2012%3C%2Fp%3E%0A
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
COMPANY%20PROFILE
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The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
The%20specs
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Sanju
Produced: Vidhu Vinod Chopra, Rajkumar Hirani
Director: Rajkumar Hirani
Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani
Rating: 3.5 stars
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
