A programme to study and promote philanthropy in the UAE and the region has been started in Abu Dhabi.
The Strategic Philanthropy Initiative is being run by New York University Abu Dhabi (NYUAD) in partnership with Emirati businessman and social entrepreneur Badr Jafar.
Mr Jafar said the initiative had the potential to create a “golden age of philanthropy” in the region.
In strategic philanthropy, instead of seeing the outcome as quantum of money, you see the outcome as impact generated
Badr Jafar,
an Emirati businessman and social entrepreneur
“This is particularly true in the Mena region, where 60 per cent of the population is under the age of 25,” he said.
“Equipping our youth with the tools, resources, and infrastructure needed to boost impact using their time, talent and treasure is a massive and timely opportunity, and this collaboration with NYUAD is well-positioned to champion this cause and make a real difference.”
A 2016 Wealth-X and Arton Capital report gives insights on the philanthropic trends of ultra high-net-worth people and it shows that they will pass on $3.9 trillion to the next generation over the next decade.
Mr Jafar said strategic philanthropy describes any form of “impact-driven giving” that is evidence based, planned and followed through to achieve the intended result.
“Rather than seeing the outcome as quantum of money, you see the outcome as impact generated. That’s a fundamental shift in thinking,” Mr Jafar said.
The initiative will focus on three areas: research to understand the past, present and possible future of philanthropy in the UAE and region; education for existing and aspiring philanthropists; and bringing people together to share ideas about the practice.
It will also run a student competition, as well as a prize in philanthropy to reward and inspire others to make donations that have an impact.
Somewhere between $400bn to $1tn is distributed throughout the Muslim world each year as a result of zakat and sadaqah donations, Mr Jafar said.
“That’s one figure, but another more depressing figure, on the other hand, is the fact that one in four Muslims lives below the poverty line,” he said.
“So one can’t help feel there is perhaps a better way to ensure this huge amount of philanthropic capital really meets the objectives that it is intended for, and maximise its impact.”
NYUAD Vice Chancellor Mariet Westermann said it was exciting to see economists and political scientists, social thinkers, next generational philanthropists, policymakers and NYUAD students join forces to make their communities better through strategic philanthropy.
“This partnership will advance the study, reach, and effectiveness of strategic philanthropy in the UAE, the wider region and the world, and drive collective action for change on the most pressing social and environmental issues,” she said.
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2018 ICC World Twenty20 Asian Western Sub Regional Qualifier
Event info: The tournament in Kuwait this month is the first phase of the qualifying process for sides from Asia for the 2020 World T20 in Australia. The UAE must finish within the top three teams out of the six at the competition to advance to the Asia regional finals. Success at regional finals would mean progression to the World T20 Qualifier.
UAE’s fixtures: Fri Apr 20, UAE v Qatar; Sat Apr 21, UAE v Saudi Arabia; Mon Apr 23, UAE v Bahrain; Tue Apr 24, UAE v Maldives; Thu Apr 26, UAE v Kuwait
World T20 2020 Qualifying process:
- Sixteen teams will play at the World T20 in two years’ time.
- Australia have already qualified as hosts
- Nine places are available to the top nine ranked sides in the ICC’s T20i standings, not including Australia, on Dec 31, 2018.
- The final six teams will be decided by a 14-team World T20 Qualifier.
World T20 standings: 1 Pakistan; 2 Australia; 3 India; 4 New Zealand; 5 England; 6 South Africa; 7 West Indies; 8 Sri Lanka; 9 Afghanistan; 10 Bangladesh; 11 Scotland; 12 Zimbabwe; 13 UAE; 14 Netherlands; 15 Hong Kong; 16 Papua New Guinea; 17 Oman; 18 Ireland
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Gothia Cup 2025
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Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
UAE currency: the story behind the money in your pockets
The specs: 2018 Jeep Compass
Price, base: Dh100,000 (estimate)
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Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
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Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
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