Vice President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Mohammed Bin Rashid Al Maktoum announced instructions for the formation of a Board of Trustees for the “1 billion Meals Endowment” initiatives.
This program was organized as a part of the Mohammed Bin Rashid Al Maktoum Global Initiatives, to provide food security to the deprived.
Sheikh Mohammed said the Board of Trustees will help achieve the “1 billion Meals Endowment” targets
Sheikh Mohammed said that this initiative will be helpful to reach out to the underprivileged of society and provide a food safety network to millions of people around the globe.
It also aims to safeguard the investment and management of assets in the largest food aid endowment project, thereby attaining regular returns and the creation of a sustainable source of living.
He added that the Board of Trustees would be entrusted with the task of investing and increasing the endowed funds, planning for a return on investment, and making wise investments in sustainable food aid sites. It targets to attain positive effects for this initiative in the coming years through continuous efforts.
Secretary–General of the Mohammed Bin Rashid Al Maktoum Global Initiatives, Mohammed Bin Abdullah Al Gergawi will be the Chairman of the Board of Trustees.
It will have eight other members, including the Vice Chairman and Managing Director of Emirates NBD and the Chairman of Emirates Islamic Bank, Hesham Abdullah Al Qassim; Grand Mufti and the Director of the Ifta Department of the Islamic Affairs Charitable Activities Department in Dubai, Dr. Ahmad bin Abdulaziz Al Haddad; Chairman of the Dubai Financial Service Authority, Fadel Al Ali; Assistant Secretary General of Mohammed Bin Rashid Al Maktoum Global Initiatives, Saeed Al Eter Al Dhanhani; Secretary-General of Dubai’s Endowment and Minors’ Trust Foundation, Ali Al Mutawa; CEO and the Managing Director of Dar Al BerSocity, Dr. Mohammed Suhail Al Muhairi; Managing Director of Al Sharif Advocates and Legal Consultants, Dr. Abdulrahman Al Sharif and the Division Director, Engineering Office, Private Office of Sheikh Mohammed Bin Rashid Al Maktoum, Ali Al Obaidli.
The “1 Billion Meals Endowment” was introduced by Sheikh Mohammed bin Rashid Al Maktoum to coincide with the holy month of Ramadan.
Working within an institutional framework, this initiative intends to organize regional, local, and global efforts, thereby helping to implement sustainable programs to combat hunger and wipe out hunger.
In order to ensure the sustainability of the endowment, the Mohammed Bin Rashid Al Maktoum Global Initiatives worked together with specialized agencies to create a thorough governance system.
The Board of Trustees will analyze the cash requirements and cash flow, they will also monitor and assess the investment policies to confirm that they are in line with the established procedures.
The newly assigned trustees will be in charge of investing and increasing the endowment funds, broadening the mission of charity, and increasing its impact.
The trustees will strive to maximize the return on investments of the endowments. This can be achieved by concentrating on feasible industries that are consistent with economic growth with the support of the Sharia-compliant modern Islamic approach.