HSBC donates AED 10 Million to Dubai Cares

31 October 2007
HSBC has announced AED10 million donation to Dubai Cares, the new charity initiative by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai to help educate one million children in poor countries around the world.

"The future of any country rests on its children and how well they are educated. Education will help them achieve their full potential and overcome any future challenges they may face. Dubai Cares will make a meaningful difference in the lives of children across the world and at HSBC we are eager to share their vision," said Youssef Nasr, Chief Executive Officer, HSBC Bank Middle East Limited.

"At HSBC we believe financial institutions have a role to play in helping integrate children from disadvantaged backgrounds into the fabric of the society. Globally, HSBC had launched 'Future First', a global education trust to contribute towards the education of the underprivileged children. We are pleased that HSBC shares a common vision and goal with His Highness Sheikh Mohammed bin Rashid Al Maktoum to benefit those children. In collaborating with Dubai Care, HSBC hopes to positively intervene in the lives of children and to deliver a lasting and positive beneficial impact," added Nasr.

'Future First' is the HSBC Global Education Trust's five-year programme (2007-2012) to help street children, children in care and orphans around the world. As part of the programme, HSBC offices worldwide will collaborate with local charitable organisations to positively intervene in the lives of children and to deliver a lasting and positive beneficial impact. Future First will support projects that make efforts to bring these children into the mainstream of society. Education, livelihood training and rehabilitation are some of the issues that can be addressed through the Future First programme.

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HSBC Bank Middle East Limited
HSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limited has 36 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain. In addition to the branch network the Bank maintains representative offices in Tehran, Iran and Tripoli, Libya. This extensive regional coverage is strengthened by another member of the HSBC Group, HSBC Bank Egypt SAE, and by its associated companies, The Saudi British Bank, British Arab Commercial Bank Limited, and HSBC Saudi Arabia Limited.

HSBC Holdings plc
HSBC Holdings plc serves over 125 million customers worldwide through around 10,000 offices in 83 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of some US$2,150 billion at 30 June 2007, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.

HSBC Global Education Trust
The HSBC Global Education Trust, led by Dame Mary Richardson, was established in January 2001 to provide a focus for the HSBC Group's educational projects. It seeks to open doors of opportunity for young people by raising standards of education and focusing on:

primary and secondary education programmes for children or schools in disadvantaged areas
language programmes (particularly Mandarin)
programmes to promote international understanding among young people
programmes that encourage greater understanding of business and finance
attitudinal education