By Staff writer
Education provider announces plan to support Mohammed Bin Rashid Global Centre for Endowment Consultancy initiative
GEMS Education has announced its support to the Dubai Awqaf & Endowment vision by setting aside 4 percent of its school seats to students who are unable to pay fees.
The move, which is equivalent to providing educational opportunity for 3,000 students through an educational endowment, follows the announcement by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai of a $1.3 billion global endowment fund.
The Mohammed Bin Rashid Global Centre for Endowment Consultancy was unveiled on Tuesday, and 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, Sheikh Mohammed said on Twitter.
Sunny Varkey, founder and chairman of GEMS Education, said: “We are proud to support the community we serve in, and as a private entity, we look forward to strengthening our partnership in promoting the welfare of the community through various initiatives.
“We have therefore decided to work with the Mohammed bin Rashid Global Centre for Endowment Consultancy and highlight our role in supporting the educational sector through our new endowment. We chose the educational endowment as it is the sector we work in and we are confident of making a positive impact in the community.”
Dr Hamad Al Hammadi, Secretary General of Mohammed bin Rashid Global Centre for Endowment Consultancy, added: “We are delighted with the prompt response of GEMS Education in supporting the initiative by setting aside seats for students.”
The Mohammed bin Rashid Global Centre for Endowment Consultancy is the largest international initiative for endowments. It will aim to achieve its global vision through empowering Awqaf and Endowments to meet the social needs of the Arab world.