Dubai Municipality has announced the allocation of the first-of-their-kind endowment parking lots, where the money collected will go towards supporting environmental and health awareness social campaigns.
The Mohammad bin Rashid Global Centre for Endowment Consultancy has granted Dubai Municipality the Dubai Endowment Sign, reported news agency WAM without giving further details.
In March, a major initiative, which will include $1.3bn in pledged assets, was launched by the UAE’s Vice President and Prime Minister, and Ruler of Dubai, Sheikh Mohammed Bin Rashid Al Maktoum.
The Mohammed Bin Rashid Global Centre for Endowment Consultancy will focus on a variety of philanthropic causes, as well as the development of knowledge, culture and future research across the Arab world.
The initiative is based on the awqaf concept of sustainable charitable endowment. The private sector is being encouraged to take part in the initiative.For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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