Emirates Islamic contributes AED 1 million to support 38 graduates from Ajman University

October 10, 2017

As part of its commitment to the community, Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced that it had collaborated with Ajman University to financially support 38 graduates who were unable to receive their degree due to financial dues.

In cooperation with Ajman University, Emirates Islamic evaluated individual cases to ensure that graduates who needed financial support to obtain their university degrees, received timely support, enabling them to seek employment and improve their overall living standards.

Commenting on the initiative, Awatif Al Harmoody, General Manager - General Manager, Operational Governance at Emirates Islamic, said: “We are pleased to strengthen our cooperation with Ajman University and contribute close to AED 1 million through our Emirates Islamic Charity Fund to ease the financial burden of these graduates. At Emirates Islamic, we strive to provide financial assistance to those who need it, with particular focus on supporting our youth.

“This initiative reflects our commitment to the UAE's Year of Giving initiative, and embodies the spirit of giving according to the provisions of Shari’a. Our efforts also align with the UAE Vision 2021 which has education as its foundation and aims to provide world-class education to build a knowledge economy and establish initiatives for scientific research, in addition to nurturing talent that can create vital new economy sectors in the future," added Al Harmoody.

On his part, Dr. Karim Seghir, Chancellor of Ajman University, praised Emirates Islamic’s continuous support to the University and its contribution to this initiative. It has helped 38 graduates receive their certificates after the Fund cleared their debts. Dr. Karim stressed that “It is the Year of Giving and the best giving is to give the students the freedom to start their career equipped with their graduation certificates. The best investment is in the human capital and we aim to achieve sustainable investment in our students’ future. He also pointed out that the University is keen on enhancing its role and its social responsibility, which has always led to the launch of various initiatives aimed at supporting science and its students.

In 2016, Emirates Islamic launched the Emirates Islamic Charity Fund, to govern and manage the bank’s strategy for charitable donations and giving, one of the key pillars of the bank’s overall CSR framework.

The Emirates Islamic Charity Fund provides financial aid under several main areas, including food, shelter, health, education and social welfare. The Fund has been set up with the primary objective of allocation of financial aid to large charities, public and private institutions, as well as individuals in need.

This year, the bank has so far distributed more than AED 46 million to various charitable causes. Emirates Islamic has disbursed funds towards medical and rehabilitation equipment to government and privately run institutions.