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Bin Sulayem Launches DMCC Foundation

July 10 2014

DMCC Executive Chairman Ahmed Bin Sulayem launches DMCC Foundation at employee Iftar

  • In support of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai’s philanthropic initiatives
  • To set precedent in Dubai and the UAE for CSR and humanitarian work in line with international best practice

In support of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai’s philanthropic initiatives and drive to make Dubai the centre of Islamic Economy, Ahmed Bin Sulayem, Executive Chairman, DMCC, announced the launch of the organisation’s latest CSR initiative, the ‘DMCC Foundation’ at its employee Iftar held at the Waldorf Astoria, Palm Jumeirah.

The ‘DMCC Foundation’ will be a non-denominational fund to be governed by independent trustees appointed by the DMCC Executive Chairman to oversee the disbursements of funds.

All DMCC employees will be encouraged to contribute 2.5 per cent of the average saving potential of their annual salary. The DMCC Executive Chairman has already led by example in doing so inspired by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai’s philanthropic initiatives.

Ahmed Bin Sulayem, Executive Chairman, DMCC, said:

“The holy month of Ramadan is very much a time of year for reflection, charity and self-accountability, however, at DMCC we feel these values should be embedded in our culture permanently which is why we are proud to announce the launch of the ‘DMCC Foundation’, today at our employee Iftar.

The ‘DMCC Foundation’ is the first of its kind in Dubai and very much in line with international best practice when it comes to corporate social responsibility. We hope the announcement will inspire other organisations and Government entities to follow suit, as collectively we can make huge improvements when it comes to humanitarian work locally and internationally”.

The ‘DMCC Foundation’ is a natural step towards the completion of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai’s vision of making Dubai the centre of Islamic economy. The concept also pre-dates Bin Sulayem’s first personal contribution to the UAE Red Crescent, the local arm of the International Red Cross and Red Crescent movement founded in 1861.

This form of employee giving and corporate CSR is practiced in several countries including the United Kingdom, which is one of the world’s leading charity donating countries according to a 2013 survey by the World Giving Index. DMCC’s Ahmed Bin Sulayem hopes to encourage other organisations in Dubai to take on the CSR challenge to bring the UAE to forefront of donating nations in the future.

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