INCEIF signs MoU with IFR on Islamic social finance

The International Centre for Education in Islamic Finance (INCEIF) has signed a memorandum of understanding (MoU) with the International Federation of Red Cross and Red Crescent Societies (IFRC) to leverage Islamic social finance opportunities and develop strategies and fundraising tools in support of Red Cross and Red Crescent humanitarian aid programmes.

The MoU was signed at INCEIF’s Kuala Lumpur campus by INCEIF President and CEO Daud Vicary Abdullah, and IFRC’s Under Secretary General for Partnerships, Tan Sri Dr Jemilah Mahmood.

The partnership aims to explore and expand ways through which Islamic social finance can be used as a tool to raise operational finances for national Red Cross and Red Crescent societies to respond to disasters and other crises, reduce vulnerabilities, support healthy and safe living and foster a culture of peace in at-risk communities.

As part of the agreement, INCEIF will undertake research in innovative financial instruments that could assist Red Cross and Red Crescent humanitarian and development initiatives, including the design and development of sukuk social impact bonds, waqf and zakat endowment funds and other mechanisms that make use of obligatory and voluntary faith-based donations. Pilot projects will launch soon in selected countries in Africa, the Middle East and Asia, including Malaysia.

INCEIF will also provide guidance on ways to tap Islamic social finance, connect its alumni network in 80 countries with national Red Cross and Red Crescent societies and advocate for the direct funding of programmes that alleviate suffering, build resilience and promote human dignity. In addition, the MoU includes the development of an IFRC internship programme for INCEIF students.

Dr Jemilah says Islamic social financing has the potential to help address significant financial challenges in meeting the needs of millions of people caught in crises and poverty.

“We are keen to explore innovative ways the Islamic finance sector can work with Red Cross and Red Crescent societies and demonstrate solidarity and principled action to save lives and promote dignity,” Dr Jemilah stated. “We will be eager to see Islamic social finance contribute to strengthening communities and realising the IFRC`s commitment of leaving no one behind.”

“At INCEIF, we realise that it is a winning strategy to promote the development of Islamic finance by establishing effective collaborative partnerships around the globe,” said Daud. “INCEIF is proud to add IFRC to our list of partners, which includes the World Bank, the Islamic Development Bank and the Islamic Financial Services Board. It is an honour for INCEIF to share our expertise and knowledge in Islamic finance to better society through the duty of care, which is the true spirit of Islam.”

Annual Sirage CSR and humanitarian initiative launched in Dubai

Source: DED website.

Under the patronage of HH Sheikh Mansoor Bin Mohammed Bin Rashid Al Maktoum, Chairman of the Dubai International Marine Club, the Department of Economic Development (DED) in Dubai and its agencies have launched an annual corporate social responsibility (CSR) and humanitarian initiative called Sirage. The first cycle will support the Reading Nation campaign of HH Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, aimed to provide 5 million books to children in need worldwide.

Source: DED. Al Afridi.

The initiative will also feature the Sirage Exhibition - a charity bazaar showcasing varied products from members of Dubai SME, the DED agency mandated to develop the small and medium enterprise (SME) sector, and Dubai Exports, the export promotion agency of DED – as well as a Sirage Evening organised with the support of entrepreneurs, businesses and investors to raise funds for the Reading Nation campaign.

Mariam Al Afridi, Director of Government Communications in DED, stated that the Sirage initiative is a public-private partnership that aims to strengthen corporate social responsibility and humanitarian causes as well as in translating the aspirations of the UAE leadership into action.

"It's intended to be an annual event and in the next cycles, Sirage will remain in solidarity with the initiatives launched by our wise leadership," said Al Afridi.

"The DED seeks to serve the community and achieve the social responsibility targets of the UAE government in collaboration with various government and private agencies. We also support charitable initiatives as such concerted efforts are essential to consolidating the principles of humanity and to achieving greater impact in community development initiatives in the UAE and beyond."

Abdelrahman Al Hosani, Director - Exporter Services in Dubai Exports, added: "We aim to raise awareness on social responsibility among our members and hence we have invited them to be part of the Sirage initiative. We have set aside a number of stalls for our members to participate in the exhibition and we believe the programme would help activate our partnership with manufacturers and exporters in the country in the field of humanitarian work."

Dalal Al Balooshi, Senior Manager - Entrepreneurs Commercial Promotion in Dubai SME, said no less than 40 member entrepreneurs from Dubai SME will participate in the Sirage initiative. "We are pleased to be part of this initiative as our role is not limited to enhancing the economic performance of our members, but also extends to strengthening the role of SMEs in the society as well as inspiring them to do good by being part of the humanitarian programmes taking place during this holy month of Ramadhan," added Al Balooshi.

The Sirage Evening will feature a suhoor gathering to raise donations towards Reading Nation and honour sponsors and contributors to the initiative as well as announce the best social entrepreneur. The evening will be attended by the members of Dubai SME, Dubai Exports and Dubai Investment Development Agency (Dubai FDI), the investment development agency of DED.

Interested?

The Sirage Exhibition will be held in the Dubai Festival City Mall (main hall) from 16 to 21 June 2016 between 9pm and 12am.

Hashtag: #Sirage_Dubai

posted from Bloggeroid

KSA, UAE send help to Yemen

Humanitarian relief has been arriving in Yemen. The third installment of medical relief by King Salman Center for Relief and Humanitarian Action arrived in Saioon city on board three trucks coming from KSA through the Alwadaia'ah land border crossing point, the Saudi Press Agency has reported.

Another report from Emirates news agency WAM shared that the Emirates Red Crescent (ERC) handed out Eid al-Fitr gifts to 5,000 displaced children in the southeastern Yemeni province of Hadramaut. ERC teams delivered electronic toys, sweets and painting tools to makeshift shelters in the province.

The Emirati humanitarian agency has on-going operations in Yemen to provide basic educational, health and social services for children.

LuLu Group and Mohammed Bin Rashid Al Maktoum Charity launch Ramadhan campaign

Source: LuLu Group website.

Mohammed Bin Rashid Al Maktoum Charity & Humanitarian Foundation has partnered with the LuLu Group to distribute shopping vouchers to over 4,500 deserving Emirati families throughout the UAE for Ramadhan. 

Ibrahim Boumelha, Vice Chairman of the Board of Trustees of the Foundation, signed a Memorandum of Understanding (MoU) on behalf of Mohammed Bin Rashid Al Maktoum Charity & Humanitarian Foundation with Yusuff Ali MA, Managing Director of LuLu Group International, in the presence of Saleh Zaher Saleh Al Mazroui, General Manager of the Mohammed Bin Rashid Al Maktoum Charity & Humanitarian Foundation, and Salim MA, Director of LuLu Group, and other top officials.

Worth AED3.5 million, the vouchers have face values of AED500 and AED1,000 and can be redeemed for food items throughout Ramadhan at any LuLu outlet in the UAE. Discounts amounting to AED157,500 will also be extended by the LuLu Group for the initiative.

Ibrahim Boumelha said, “More families will benefit from the project this time and this project is of great importance to the Foundation as it cooperates with its partners in charity within the UAE for the distribution of the smart cards (vouchers). We also extend our gratitude to LuLu Group for partnering with us for this noble cause.”

Yusuff Ali M.A. said, “The foundation offered its best efforts to serve residents in the region during Ramadhan to develop an action plan for early implementation to reach the beneficiaries in the right time avoiding last-minute rush.”


This is the 8th year such a joint initiative is being carried out. AED20 million worth of vouchers have so far been issued in total.This is the 8th year such a joint initiative is being carried out. AED20 million worth of charity cards have so far been issued in total.

Saahtain Foods exhibits Tayyib brand, launches data porridge at DIHAD

Saahtain Foods, a manufacturer of ready-to-eat halal meals, exhibited at the Dubai International Humanitarian Aid & Development Conference and Exhibition (DIHAD) last week, during which it shared its Tayyib* brand in keeping with the 2015 DIHAD theme of Opportunity, Mobility and Sustainability. 

Source: Saahtain Foods.
The company has worked
with global organisations in
three continents.

"Innovation in the humanitarian sector truly makes us a social enterprise," said Adeel Khan, CEO of Saahtain Foods. "We bring private sector excellence in to the strategies of leading non-profit organisations and the corporate social responsibility efforts of leading corporates across the region."

The Tayyib brand is designed for the humanitarian sector, and features easily mobile, accessible and sustainable food that is sourced and produced entirely in the UAE. 

The ready-to-eat meals are 100% halal, 100% natural and nutritious. According to Saahtain, the meals require no special storage, nor a chilled environment for transportation. The shelf life of each meal is over two years at room temperature, enabled through the same technology NASA uses to develop its food for space. Half a million people have been fed through Tayyib meals to date, the company said.

Saahtain Foods also launched at DIHAD, the world's first date porridge. With long shelf life packaging, local UAE dates have been used to create this nutritious blend of high energy porridge.

"DIHAD is a very important platform for us, we are strong believers in the strategic and geographical location of UAE for humanitarian and development work. We are really excited to be using the highly nutritious dates of the region; it was an obvious choice for our next product launch," added Khan.

Saahtain Foods will shortly begin its annual drive to partner with local and UK-based charities to use sacrificial adhahi meat and produce a complete ready-to-eat rice-based meal that can then be sent to remote parts of the world, without having to be frozen, to feed the most vulnerable communities.

*According to Saahtain, At-Tayyib, a name of Allah, means 'the One far removed from every imperfection and deficiency'. Tayyib (طيّب) is from the Arabic root taa-ya-ba and it literally means to be pleasant, agreeable, lawful. The word 'tayyib' itself means to be good, clean, wholesome, gentle, fair and lawful. From these meanings we get the general meaning for tayyib of anything that is good and pure.