“Sand Waqf” receives one million dirhams in support from “Emirates Islamic”

The Endowments and Minors’ Funds Management Foundation in Dubai received a financial contribution of one million dirhams from the charitable account of Emirates Islamic in support of the “Sand” endowment launched by the Foundation to meet the food needs of deserving families, in a way that enhances the endowment’s sustainability and its societal impact.

The Foundation confirmed that this contribution reflects Emirates Islamic’s commitment to supporting endowment and development initiatives, and contributes to consolidating the sustainable endowment system, in line with the directions of the Emirate of Dubai in strengthening endowment work as an effective partner in social development.

The “Sand” Endowment Project aims to construct residential buildings in the Dubai South area, containing 40 residential apartments, at a total cost of approximately 40 million dirhams, with expected returns amounting to about 9.3% of the total construction costs, allocated to issuing “Sand” cards at a value of one thousand dirhams for each card, distributed to eligible groups.

The Secretary-General of the Endowments and Minors’ Funds Management Foundation in Dubai, Ali Al Mutawa, appreciated the contribution of Emirates Islamic, stressing the importance of strategic partnerships with banking institutions in enhancing the role of the endowment and achieving sustainable social development.

For his part, Hisham, Chairman of the Board of Directors of Emirates Islamic, Abdullah Al Qassim, expressed his pride in cooperating with Dubai Endowments to support the basic needs of eligible families, in line with the principles of Islamic Sharia and the bank’s social responsibility.

The “Sand” endowment is one of the social endowments open to the participation of government and private agencies and businessmen, which contributes to providing ration cards that enable beneficiaries to meet their basic needs.