Sheikh Mohammed's request came as it was reported the UAE last year donated 5% of expenditure as financial aid
During a UAE cabinet meeting on Tuesday, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, called on the country’s private sector to come up with more ideas to support charitable initiatives, especially as it was announced that the UAE had provided AED19.2 billion ($5.2bn) in financial aid last year.
"We have directed both government and private sectors to come up with ideas that support philanthropic work and enhance the value of tolerance, as we mark 2019 as the Year of Tolerance," Sheikh Mohammed was quoted as saying in a report by WAM, the UAE state news agency.
Sheikh Mohammed also said: Ramadan offers a great opportunity for interaction and tolerance as well as for enhancing the culture of philanthropy. Guided by the Islamic values of peace, tolerance and giving, the Holy Month of Ramadan is the right time we launch global humanitarian initiatives."
The comments came as WAM also reported that the value of financial aid provided by the UAE’s federal government and local governments totalled AED19.2 billion in 2018.
According to statistics from the Ministry of Finance, the aid accounted for five percent of the government’s total financial expenditure in 2018.