11 October 2016
By Shane McGinley
Emirati businessman Abdul Aziz Al Ghurair on Tuesday announced plans to set up an Islamic philanthropy network to develop “a homegrown approach” to the challenges faced by Arab citizens.
“While we (business leaders) have revolutionized our own business we have failed to bring this same bold approach to the immense challenges of poverty, ill health and social inequity,” Al Ghurair said during a keynote speech on philanthropy in the Muslim world at the Global Islamic Economy Summit (GIES).
“We must shift from traditional charity to a new ecosystem with high impact philanthropy,” he said. “This is why today I am announcing the launch of the network of philanthropists in the Arab world and ultimately in the Muslim world. I am asking all my peers to join me in building this ecosystem we so desperately need.”
Al Ghurair, who last year announced that his family would donate a third of its wealth over the next decade to philanthropic initiatives, urged fellow business leaders to adopt a bigger philanthropic role.
He said the philanthropy network would adhere to three main principles – tangible impact, transparency and accountability, and innovative solutions.
“We believe that giving is essential… Working together is much better than the sum of our individual parts,” he told delegates at the start of the two-day summit being held in Dubai. “Together we will learn, share and develop a homegrown approach to tackling our region’s challenges and help our citizens in the Arab world, and ultimately in the Muslim world, so they can reach their full potential.”
Abdul Aziz Al Ghurair is CEO of Mashreq Group, the bank set up by his father nearly 40 years ago, and in April he announced the establishment of the Abdulla Al Ghurair Foundation for Education, which plans to provide scholarships for 15,000 Middle Eastern students over the next 10 years.
By Shane McGinley
Emirati businessman Abdul Aziz Al Ghurair on Tuesday announced plans to set up an Islamic philanthropy network to develop “a homegrown approach” to the challenges faced by Arab citizens.
“While we (business leaders) have revolutionized our own business we have failed to bring this same bold approach to the immense challenges of poverty, ill health and social inequity,” Al Ghurair said during a keynote speech on philanthropy in the Muslim world at the Global Islamic Economy Summit (GIES).
“We must shift from traditional charity to a new ecosystem with high impact philanthropy,” he said. “This is why today I am announcing the launch of the network of philanthropists in the Arab world and ultimately in the Muslim world. I am asking all my peers to join me in building this ecosystem we so desperately need.”
Al Ghurair, who last year announced that his family would donate a third of its wealth over the next decade to philanthropic initiatives, urged fellow business leaders to adopt a bigger philanthropic role.
He said the philanthropy network would adhere to three main principles – tangible impact, transparency and accountability, and innovative solutions.
“We believe that giving is essential… Working together is much better than the sum of our individual parts,” he told delegates at the start of the two-day summit being held in Dubai. “Together we will learn, share and develop a homegrown approach to tackling our region’s challenges and help our citizens in the Arab world, and ultimately in the Muslim world, so they can reach their full potential.”
Abdul Aziz Al Ghurair is CEO of Mashreq Group, the bank set up by his father nearly 40 years ago, and in April he announced the establishment of the Abdulla Al Ghurair Foundation for Education, which plans to provide scholarships for 15,000 Middle Eastern students over the next 10 years.
