Nov 28 2007

Mawarid Finance launches Tamaiaz Award

Tamaiaz Award
Tamaiaz Award

First-of-its kind award aims to boost innovative spirit among graduates

Dubai - Mawarid Finance has launched the Tamaiaz Award for new graduates and senior university students, giving them an opportunity to compete fairly in guaranteeing the first job of their careers.

Based on Mawarid 's policy to be an active contributor to the Emiratisation drive in the in private and public sectors, its new award is designed to enrich the competitive spirit in science and education.

The company seeks to boost the competitiveness and creativity of UAE nationals pursuing higher education degrees in UAE universities and colleges, preparing them to enter the career market in the private sector in full readiness and with the required qualifications.

The award will encourage and reward creative and innovative minds among students and new graduate Emirati citizens and boost their chances of finding suitable jobs that match their innovation skills.

Mawarid has dedicated an annual budget of AED 1 million to the award, which covers seven categories: media and mass communications, banking and finance, accounting and auditing, languages, sharia'a and law, information technology, and marketing and sales. Students and graduates are invited to submit innovative projects according to certain terms and conditions set for each category and governed by a special judging process.

Five winners from each category will result in a total of 35 winners every year, each of whom will receive award. Mawarid will offer employment opportunities for the first seven winners in each category.

Winners will be eligible for jobs to suit their creativity, bridging the traditional gap between academic education and the jobs market by empowering them to enter the private sector and guide them on how to convert their innovative ideas into reality.

The award was announced at a Mawarid media conference yesterday (Wednesday November 28 2007), in the presence of HE. HE Ahmed Humaid Al Tayer, Head of Human Resources Development Committee in the Banking and Financial Sector, Chairman of Emirates National Development Programme Board of Trustees, where Mawarid 's chairman Omran Sultan Al Owais said:

"The launch of Tamaiaz comes from our strong commitment at Mawarid Finance to participate effectively in elevating our country and its people to higher levels, inspired by the vision of the late Sheikh Zayed bin Sultan Al Nahyan and the late Sheikh Rashed bin Saeed Al Maktoum who established the cornerstones for building this nation, giving human development a priority before other things, and based on the further steps taken by our current leaders in continuing this trip towards the future which has made the UAE a centre for education, peace and prosperity that attracts people from so many different parts of the world."

The announcement function was also attended by Mawarid Finance executives including Mohamed Al Neaimi, chief executive officer, and Rehab Lootah, head of business development and corporate communications, as well prominent guests include Jamal Al Jassmi, general manager of the Emirates Institute for Banking and Financial Studies; HE Dr Sulaiman Al Jassim, vice-president, Zayed University; Salem Al Qaseer, vice chancellor, American University of Sharjah, and Dr Fatima Al Shamsi, secretary general, UAE University.

Mohamed Al Neaimi told guests that to achieve its objectives with this award, Mawarid has established a solid relationship with leading academic institutions to form the award's board of trustees. These include Zayed University, UAE University, American University of Sharjah, Emirates Institute for Banking and Financial Studies, Dubai University College, and Sharjah University.

Al Neaimi stressed that Mawarid has established specialised project committees along with its partners from the education sector. Each committee will include representatives from Mawarid Finance , the Emirates Banking and Finance Institute, and the participating universities or companies specialised in the appropriate field.

The committees will define the standards and qualification requirements for each category and judge applicants' entries in their respective categories. Mawarid , in collaboration with the Emirates Banking and Finance Institute, will select the jury members. Applications will be accepted from February 3 2008 until March 30 2008, and the winners will be announced on April 29 2008.

Jamal Al Jassmi, general manager the Emirates Institute for Banking and Financial Studies, said: "The Tamaiaz award is considered a valuable addition to the existing awards in the UAE since it plays such a big role in providing an innovative environment for students in universities and colleges in the country, strengthening the Emiratisation policy in the private sector while enhancing enrolment of locals in all business sectors.

"We are happy to participate in this initiative though the board of trustees, and we hope other parties will follow suit to encourage students and open the doors for them either through offering employment opportunities or rewarding the innovators among them."

Mawarid Finance is a private joint stock company established in Dubai, UAE, towards the end of 2006 with a paid-up capital of one billion dirham. The company plans to introduce a new vision within the Islamic finance sector to both retail and corporate customers in the region.

- Ends -

Mawarid Finance
Mawarid Finance is a new private joint stock company established in Dubai, UAE, towards the end of 2006 with a paid-up capital of one billion dirhams. The company plans to introduce a new vision within the Islamic finance sector to both retail and corporate customers in the region.

Mawarid Finance is the only finance company in the UAE that is completely independent. The company's shares are distributed across 352 shareholders, with companies or organisations owning not more than 5% each of the capital and no individual shareholder's stake exceeding 2.5%, giving the company the operational freedom to secure a leading position in the Islamic banking market in the UAE.

Mawarid Finance specialises in the competitive development of Sharia'a compliant financial services, focusing on rapid growth through outstanding customer service.

Mawarid Finance is structured as an integrated financial institution that specialises in providing all services related to finance and business, responsive to the rapid growth taking place in Dubai and modelled on the spectacular development of Dubai and the UAE as a whole.

Mawarid draws its strength from a solid vision for the future articulated by a team of leading industry professionals, a close-knit network of strategic partners and business associates, and the financial backing and support of well-established shareholders.

Mawarid 's mission is to create superior and exceptionally innovative Sharia'a- compliant products and services, sustaining high-quality performance and maximising market share to become the first choice provider of Islamic financial solutions in a modern business environment.

For more information, please contact:
Yasmine Al Husseiny
Media Relations Executive
Milestones Marketing Communications
Dubai Media City
Tel. : 00971 4 3658492
Fax : 00971 4 3678097
Mobile: 00971 50 7096716
Email: pr@milestonesmc.com

© Press Release 2007

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